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Property profile & analytics
FOR LEASE
Office Spaces
805 Aerovista Pl 205 San Luis Obispo, CA 93401
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US09-3847984
For Lease
1 / 6
$6,678/Mo
805 Aerovista Pl,Unit 205, San Luis Obispo, CA 93401
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2001
Total area
3,435 SF
Lot
0.08 ac (3,435 SF)
Zoning code
BP
APN
053-416-008
UPID
US09-3847984
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.18M
Owner & transaction history
Gary E Esajian · 7 yrs held
Gary E Esajian
since 2018
7 recorded transactions
Zoning & alternative use
BP · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+16.0%
Auto repair, garage
$1.6M
+0.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs San Luis Obispo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Luis Obispo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,135,000
6.5%
$1,050,000
7%
$975,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,560,000
Current use
COMMERCIAL (GENERAL)
$1,810,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,570,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$1,465,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$342 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$16,317
Tax year 2024
Assessed value
$1,476,418
Assessed 2024
Previous assessed
$1,476,418
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$546,820
Assessed improvement
$929,598
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Lease
Year built
2001
Heating
NONE
Total area
3,435 SF
Lot
0.08 ac (3,435 SF)
Zoning code
BP
APN
053-416-008
UPID
US09-3847984
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
BP · San Luis Obispo, CA
Zoning BP · permitted uses
BP · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Luis Obispo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Lot
0.08 ac
Current owner
From public records · entity-resolved
Gary E Esajian
Individual
Mailing address
PO BOX 100, LEMOORE, CA 93245-0100
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2018
$2,708,500
Gary E Esajian
Tahmazian,bryan L
Grant Deed
—
May 23, 2018
$2,700,000
Bryan L Tahmazian
Minicucci Alexander P Trust
Trustees Deed
$2,708,452 · Esajian INC
Mar 20, 2018
—
Minicucci,alexander P Trust
—
Grant Deed
related
$1,720,000 · Super G Cap LLC
Dec 5, 2017
—
Minicucci,alexander P Trust
—
Trustees Deed
related
$600,000 · Wild Dragon LP
Apr 4, 2017
—
Minicucci,alexander P Trust
—
Trustees Deed
related
$105,000 · World Busn Lenders
Sep 24, 2015
—
Minicucci,alexander P Trust
—
Trustees Deed
related
$200,000 · Bank Of Lake Mills
Nov 30, 2012
—
Minicucci Alexander P Trust
805 Aerovista Partners LLC
Grant Deed
$305,000 · Bank Of America
Aug 14, 2009
—
805 Aerovista Partners LLC
—
Deed Of Trust
related
$1,460,949 · First Source Bank
Aug 27, 2008
—
805 Aerovista Partners LLC
Aeroloop Partners
Quit Claim Deed
—
—
—
Minicucci,alexander P Trust
—
Deed Of Trust
related
$125,000 · Us Bk
—
—
Minicucci,alexander P Trust
—
Deed Of Trust
related
$250,000 · Condor Ents LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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