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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Industrial land
Main St Morro Bay, CA 93442
Entity Owned
19-yr Hold
Free & Clear
Property ID
US09-4952861
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1936
Construction
WOOD FRAME
Total area
3,684 SF
Lot
9.96 ac (433,796 SF)
Zoning code
R3
APN
065-149-001
UPID
US09-4952861
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
$575k
Comparable Approach
Comparable
$1.00M
Blend (final)
Blend
$910k
Owner & transaction history
Texaco Downstream Props INC · 19 yrs held
Texaco Downstream Props INC
since 2007
1 recorded transaction
Zoning & alternative use
R3 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Medical building
$1.5M
+27.7%
Retail stores
$1.2M
+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 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%
$625,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,185,000
Current use
MEDICAL BUILDING
$1,515,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$1,195,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±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
$247 / 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
$50,420
Tax year 2024
Assessed value
$4,562,271
Assessed 2024
Previous assessed
$4,562,271
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$4,562,271
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1936
Construction
WOOD FRAME
Heating
YES
Stories
1
Rooms
17
Bathrooms
4
Total area
3,684 SF
Lot
9.96 ac (433,796 SF)
Zoning code
R3
APN
065-149-001
UPID
US09-4952861
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
R3 · Morro Bay, CAZoning R3 · permitted uses
R3 · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
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
1936
Construction
WOOD FRAME
Heating
YES
Stories
1
Rooms
17
Bathrooms
4
Lot
9.96 ac
Current owner
From public records · entity-resolved
Texaco Downstream Props INC
Entity
Free & Clear · 19 yrs held
Mailing address
PO BOX 1392, BAKERSFIELD, CA 93302-1392
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2007
—
Texaco Downstream Props INC
Tmr
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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