Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    978 Griffin St Grover Beach, CA 93433

    • Industrial land
    • 0.73 lot acres
    For Sale
    View listing
    $500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1552613
    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

    • Industrial land

    Property Details for 978 Griffin St

    Lot size
    0.73 lot acres
    Zone code
    M1
    Property type
    Industrial land
    APN
    060-544-008
    APU
    60544008

    Description

    This exceptional development opportunity in Grover Beach, California, presents two new commercial buildings totaling approximately 26,447 square feet on a prime parcel located at 978 Griffin Street E & F. The property is zoned M1 & C1, offering significant flexibility for various commercial uses. Building E, encompassing roughly 13,601 square feet, is divisible into six bays ranging from 2,643 to 2,785 square feet. Building F, approximately 12,846 square feet, can be divided into four bays, ranging from 3,162 to 3,307 square feet. This presents a unique chance to lease space in a newly constructed facility, tailored to meet diverse business needs. The asking price for the entire development project is $17,681. Leasing rates are $1.30 per square foot, plus NNN charges. This development is situated in San Luis Obispo County, California, with a zip code of 93433, offering easy access to local amenities and transportation routes. The property's latitude and longitude coordinates are 35.110807 and -120.621791 respectively. This is an ideal investment for businesses seeking modern, flexible space in a thriving California community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grover Beach
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.622
    Latitude
    35.1108
    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
    $2,207
    $186,730
    $6,003
    $192,733
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      Saratoga Ave

      INDUSTRIAL - VACANT LAND • 0.18 Acres
      Saratoga Ave, Grover Beach, CA 93433
      View Details
    • Value Estimation by Request
      0.90 Acres

      951 Griffin St

      INDUSTRIAL - VACANT LAND • 0.90 Acres
      951 Griffin St, Grover Beach, CA 93433-3018
      View Details
    • Value Estimation
      $1,800,000
      1.62 Acres

      980 Huber St

      INDUSTRIAL - VACANT LAND • 1.62 Acres
      980 Huber St, Grover Beach, CA 93433-3023
      View Details
    • Value Estimation by Request
      0.78 Acres

      938 Huston St

      INDUSTRIAL - VACANT LAND • 0.78 Acres
      938 Huston St, Grover Beach, CA 93433-3109
      View Details
    • Value Estimation
      $775,000
      0.84 Acres

      1088 Huston St

      INDUSTRIAL - VACANT LAND • 0.84 Acres
      1088 Huston St, Grover Beach, CA 93433-3111
      View Details
    • Value Estimation by Request
      0.17 Acres

      986 Huston St

      INDUSTRIAL - VACANT LAND • 686 SF
      986 Huston St, Grover Beach, CA 93433-3109
      View Details

    Similar Nearby for Sale

    • $500,000

      Grover Beach Industrial Lot

      Vacant 0.73-acre industrial lot, ideal for development or expansion.
      978 Griffin St, Grover Beach, CA 93433
      View Details
    • $3,750,000

      Grover Beach Industrial Zoned Lots

      Four industrial lots in Grover Beach, near the ocean.
      943 Huston St, Grover Beach, CA 93433
      View Details
    • $345,000
      13,503.00 Acres

      Expansive Homesite with Sweeping Views

      Large homesite in North Grover with views and coastal access.
      1032 Margarita Ave, Grover Beach, CA 93433
      View Details
    • $1,095,000

      Grover Beach Mixed-Use Redevelopment Opportunity

      Two parcels totaling 11,326 SF in Grover Beach.
      294 N 4Th St, Grover Beach, CA 93433
      View Details
    • $619,000

      Prime Corner Commercial Land Opportunity

      Coastal Commercial zoned land near ocean, ideal for mixed-use development.
      127 Ramona Ave, Grover Beach, CA 93433
      View Details
    • $265,000
      Pending

      Oversized Lot in Grover Beach

      Rare 9,157 sq. ft. lot near beaches and amenities.
      1362 Farroll Rd, Grover Beach, CA 93433
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      23,959 SF

      Gateway Plaza: Executive Suites

      Prime San Luis Obispo location; 3 suites available.
      1800 Grand Ave, Grover Beach, CA 93433
      View Details
    • Contact for pricing
      2,865 SF

      Grover Beach Commercial Lease Opportunity

      New commercial condos available for lease in Grover Beach, CA.
      401 W Grand Ave, Grover Beach, CA 93433
      View Details
    • $2,100,000
      3,518 SF

      Retail Space in Arroyo Grande

      Retail space in Arroyo Grande's premier commercial corridor.
      1375 E Grand Ave, Arroyo Grande, CA 93433
      View Details
    • $1.00 SF/Yr
      7,260 SF

      Grover Beach Industrial/Office Space

      Industrial and office space available for lease in Grover Beach.
      390 Manhattan Ave, Grover Beach, CA 93433
      View Details
    • $2.00 SF/Yr
      1,569 SF

      Arroyo Grande Retail/Office Space

      Retail/office space available in Arroyo Grande, close to Highway 101.
      618-624 E Grand Ave, Arroyo Grande, CA 93433
      View Details
    • Contact for pricing
      1,830 SF

      Commercial Space in Grover Beach

      New commercial condos available for lease in Grover Beach, CA.
      401 W Grand Ave, Grover Beach, CA 93433
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    978 Griffin St
    Grover Beach, CA 93433
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.