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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    970 Chorro St San Luis Obispo, CA 93401-3202

    • Retail space
    • 1,089 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence
    Property ID
    US09-1925225
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 970 Chorro St

    Year built
    1900
    Construction
    TILT-UP CONCRETE
    Lot size
    0.10 lot acres
    Property size
    1,089 SF
    Zone code
    CD
    Property type
    Retail space
    APN
    002-416-006
    APU
    2416006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $295,000
      6.5%
      $270,000
      7%
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $392,000
      Market price range: $196k - $512k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $365,000
      Current use
      COMMERCIAL (GENERAL)
      $575,000
      Change: +57% Conversion: Easy
      AUTO REPAIR, GARAGE
      $500,000
      Change: +37% Conversion: Difficult
      OFFICE BUILDING
      $495,000
      Change: +36% Conversion: Easy
      MEDICAL BUILDING
      $465,000
      Change: +28% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.664
    Latitude
    35.2811
    CBSA code
    42020
    CBSA name
    SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,765
    $207,777
    $132,934
    $340,711
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $660,000
      3,693 SF

      684 Higuera St Ste A

      RETAIL STORES (PERSONAL SERVICES) • 3,693 SF
      684 Higuera St Ste A, San Luis Obispo, CA 93401-3550
      View Details
    • Value Estimation
      $610,000
      15,522 SF

      1026 Chorro St

      RETAIL STORES (PERSONAL SERVICES) • 15,522 SF
      1026 Chorro St, San Luis Obispo, CA 93401-3230
      View Details
    • Value Estimation
      $690,000
      6,216 SF

      876 Marsh St

      RETAIL STORES (PERSONAL SERVICES) • 6,216 SF
      876 Marsh St, San Luis Obispo, CA 93401-3612
      View Details
    • Value Estimation
      $855,000
      13,560 SF

      962 Monterey St

      RETAIL STORES (PERSONAL SERVICES) • 13,560 SF
      962 Monterey St, San Luis Obispo, CA 93401-3205
      View Details
    • Value Estimation
      $465,000
      16,060 SF

      4025 Higuera St

      RETAIL STORES (PERSONAL SERVICES) • 16,060 SF
      4025 Higuera St, San Luis Obispo, CA 93401-7704
      View Details
    • Value Estimation
      $610,000
      8,523 SF

      11 Higuera St

      RETAIL STORES (PERSONAL SERVICES) • 8,523 SF
      11 Higuera St, San Luis Obispo, CA 93401-5414
      View Details

    Similar Nearby for Sale

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      Profitable Laundromat Business Opportunity

      Established laundromat business with growth potential in prime location.
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      San Luis Obispo Commercial Condo

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      Rare opportunity to own a piece of local history.
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    • $13,000,000
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      San Luis Obispo Leased Investment

      34,427 SF commercial property in active commercial corridor.
      855 Aerovista Pl, San Luis Obispo, CA 93401
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo
      2,199 SF

      Subterranean Retail Space in SLO

      Retail space in the heart of San Luis Obispo.
      1029 Chorro St, San Luis Obispo, CA 93401
      View Details
    • $2 SF/Yr
      700 SF

      Retail Space in Vibrant Complex

      End cap retail unit with excellent exposure for rent.
      3240 Broad St, San Luis Obispo, CA 93401
      View Details
    • $2,600 /Mo
      670 SF

      Retail Space Available For Rent

      Retail space available for rent, includes fixtures and furniture.
      3594 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,381 SF

      Retail Space in San Luis Obispo

      Grocery-anchored retail space available for lease in San Luis Obispo.
      3830 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,130 SF

      Prime Monterey Street Commercial Space

      Versatile commercial space in a central business district location.
      1413 Monterey St, San Luis Obispo, CA 93401
      View Details
    • $1.65 SF/Yr
      1,960 SF

      Retail Space in Crossroads Center

      Prime retail space in a mixed-use development.
      3165 Broad St, San Luis Obispo, CA 93401
      View Details
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    970 Chorro St
    San Luis Obispo, CA 93401-3202
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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