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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Retail space
880 Shasta Ave A, Morro Bay, CA 93442-1933
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1433020
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Construction
WOOD
Total area
2,175 SF
Lot
0.4 ac (17,424 SF)
Zoning code
C1
APN
066-068-001
UPID
US09-1433020
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
$545k
Comparable Approach
Comparable
$705k
Blend (final)
Blend
$660k
Owner & transaction history
Raymond A Schmall · 4 yrs held
Raymond A Schmall
since 2021
4 recorded transactions
Zoning & alternative use
C1 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$995,000
+41.0%
Medical building
$895,000
+26.7%
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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%
$590,000
6.5%
$545,000
7%
$505,000
Alternative Use
Use
Estimation
RETAIL STORES
$705,000
Current use
AUTO REPAIR, GARAGE
$995,000
Change: +41% · Conversion: Difficult
MEDICAL BUILDING
$895,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$303 / 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
$10,073
Tax year 2024
Assessed value
$911,470
Assessed 2024
Previous assessed
$911,470
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$401,926
Assessed improvement
$509,544
Applied tax rate
6.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1955
Construction
WOOD
Heating
NONE
Rooms
13
Bathrooms
7
Total area
2,175 SF
Lot
0.4 ac (17,424 SF)
Zoning code
C1
APN
066-068-001
UPID
US09-1433020
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C1 · Morro Bay, CA
Zoning C1 · permitted uses
C1 · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$705,000
AUTO REPAIR, GARAGE
Est. value
$995,000
MEDICAL BUILDING
Est. value
$895,000
RETAIL STORES Current
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
1955
Construction
WOOD
Heating
NONE
Rooms
13
Bathrooms
7
Lot
0.4 ac
Current owner
From public records · entity-resolved
Raymond A Schmall
Individual
Free & Clear · 4 yrs held
Mailing address
7287 N KATY AVE, FRESNO, CA 93722-3486
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
—
Raymond A Schmall
Raymond Schmall
Intrafamily Transfer
related
—
Apr 6, 2021
—
Raymond Schmall
Floyd K Schmall
Intrafamily Transfer
related
—
Sep 16, 2020
—
Schmall 1999 Family Trust
Alfred H Schmall
Affidavit Of Death
related
—
Jul 31, 2001
—
Alfred H Schmall
Schmall,alfred H & Florence H
Quit Claim Deed
related
—
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.
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