Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    119 Farrell Ave Gilroy, CA 95020

    Sponsored
    For Sale
    $369,000

    Residential Lots & Land - GILROY, CA

    Lot size:
    0.36 Acres
    Days on Market:
    47
    Last Refresh:
    Feb 21 at 4:06 am

    Property Features for 119 Farrell Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R1
    Lot size
    0.36 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brian Liu

    Next Realty Inc (347) 400-5878

    Listing agent Brian Liu (408) 658-0615 License #01937250

    Listing date Jan 6, 2026

    MLS# ML82005361 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Lots in Gilroy, CA

    An opportunity exists to acquire three residential lots located on Farrell Avenue in Gilroy, California. Significant civil preparations have been completed. Architectural plans for three single-family homes, each approximately 3,000 square feet, have been submitted to the city. 119 Farrell Ave is approximately 0.3607 acres (15,710 square feet). 111 Farrell Ave is approximately 0.1537 acres (6,694 square feet). 103 Farrell Ave is approximately 0.1537 acres (6,694 square feet). Sold as a combined package, these lots provide an opportunity for builders or investors looking to develop a cohesive residential community or spacious private estate. The zoning is R1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gilroy
    County
    Santa Clara
    State
    California
    Longitude
    -121.583477
    Latitude
    37.031385

    Nearby Similar for Sale

    • New
      $10,500,000
      4,222 SF

      Equestrian Estate with Vineyard

      58+ acre estate with equestrian facilities and vineyard.
      3970 Leavesley Rd, Gilroy, CA 95020
      View Details
    • $2,099,000
      2,504 SF

      Contemporary Home with Rental Income

      Spacious home with rental unit in desirable Gilroy neighborhood.
      3455 Susie Ln, Gilroy, CA 95020
      View Details
    • $999,000
      7,008 SF

      Downtown Gilroy Commercial Building For Sale

      Versatile commercial property in downtown Gilroy, suitable for retail.
      7648 Monterey St, Gilroy, CA 95020
      View Details
    • $8,999,000
      6,630 SF

      Gilroy Commercial Property with Highway Frontage

      Mixed-use property with high visibility and development potential near US-101.
      5680 Monterey Rd, Gilroy, CA 95020
      View Details
    • $2,800,000
      16,080 SF

      GILROY Commercial Property with Redevelopment Potential

      16,080 SF property in high-traffic downtown redevelopment area.
      7541-7543 Monterey St, Gilroy, CA 95020
      View Details
    • $8,999,000

      Established Vineyard on Santa Clara Wine Trail

      Meticulously maintained vineyard with wine production facility and event venue.
      11775 Watsonville Rd, Gilroy, CA 95020
      View Details
    • Contact for pricing
      11,526 SF

      Gilroy Multifamily Investment Opportunity

      16-unit apartment complex in Gilroy, near outlets and shopping.
      420 Broadway, Gilroy, CA 95020
      View Details
    • $2,500,000

      20-Acre Ranch with Apple Orchard

      Updated farmhouse, producing orchard, multiple residences, and income potential.
      4125 Prunedale Ave, Gilroy, CA 95020
      View Details
    • $15,000,000

      Prime Agricultural Land in Gilroy

      Large farmland property with long-term tenant in Santa Clara County.
      25 Hwy, Gilroy, CA 95020
      View Details
    • $9,051,900
      14,821 SF

      Gilroy Retail Center Investment

      14,821 SF Multi-Tenant Retail Center, 5.81% Cap Rate
      890 Renz Ln, Gilroy, CA 95020
      View Details
    • Contact for pricing
      1.29 Acres

      Gilroy Mixed-Use Investment Opportunity

      1.29-Acre Mixed-Use Property in Gilroy, CA
      8425, Gilroy, CA 95020
      View Details
    • $19,000,000
      82.13 Acres

      Gilroy Commercial Land Investment

      82 Acres, Highway 101 Access
      275 Bolsa Rd, Gilroy, CA 95020
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three residential lots for sale in Gilroy, California.
    Where is this residential land & home lot located?
    The property is located at 119 Farrell Ave Gilroy, CA.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: - Three prime residential lots offered as a combined package for development.; - Civil preparations completed, streamlining the building process.; - Architectural plans for three approximately 3,000 sqft single-family homes already submitted to the city.
    (510) 598-7685
    Request Owner's contact information
    119 Farrell Ave Gilroy, CA 95020
    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.
    119 Farrell Ave
    Gilroy, CA 95020
    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
    119 Farrell Ave Gilroy, CA 95020
    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

    We can help!
    Listing Contact
    Brian Liu
    Real Estate License ID: 01937250
    (510) 598-7685 (408) 658-0615
    Learn more
    Google sign-in failed. Please try again or use another login method.