Flex Space with Warehouse
New
For Sale
$2,895,000
10095 Monterey Road, Gilroy, CA 95020
Fenced industrial-use property with multiple structures, dedicated utilities, and Monterey Road frontage.
Property Size2,740 SF
Lot Size2.08 Acres
Price / SF$1,056
Days on Market7
Property Features for 10095 Monterey Road
General Information
Standard status
Active
Size
2,740 SF
Lot size
2.08 Acres
Property subtype
Commercial/Industrial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,740 SF
Office Build-Out
720 SF
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$2,040
Amenities
coffee bar
private entrance
Building Details
Year Built
1920
Listing Agency:
EXIT Realty Consultants
(408) 202-3243
Listed By:
Margaret Vierra · License #01183425
(408) 202-3243
Source:
Exitrealty
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 7:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Realty Consultants
Investment Insights
Based on property information with market context.
This 2.08-acre property at 10095 Monterey Road and 10065 Monterey Road combines a warehouse, workshop, and single-family residence. The primary building contains approximately 2,740 SF, including about 720 SF of office and conference space, a bathroom, coffee bar, private access, parking, and a newer 12x12 rollup door. A separate 340 SF workshop and storage building supports current storage, U-Pick flower, and organic edible tea garden uses. The site is fully fenced, with industrial land use in the county and an Industrial/Commercial designation in the City of Gilroy General Plan.
The residence includes 3BR/2BA, approximately 1,425 SF, a fenced yard, separate electric meter, well service, and an approximately 1,200gal septic tank. The second address has two electric meters, 3phase power, and an approximately 1,500gal septic tank. Approximately 2,020 SF of the warehouse is currently leased to Arborists. Buyer to verify square footage, zoning, uses, permits, leases, utilities, and septic and well details.
The residence includes 3BR/2BA, approximately 1,425 SF, a fenced yard, separate electric meter, well service, and an approximately 1,200gal septic tank. The second address has two electric meters, 3phase power, and an approximately 1,500gal septic tank. Approximately 2,020 SF of the warehouse is currently leased to Arborists. Buyer to verify square footage, zoning, uses, permits, leases, utilities, and septic and well details.
Key Highlights
- 2.08‑acre industrial‑use property with Monterey Rd frontage and dual addresses
- Approximately 2,740 SF warehouse with about 720 SF of office/conference area
- Newer 12x12 rollup door, private entrance/parking, bathroom, and coffee bar
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$96,391
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,927,820
$1.9M
Cap Rate 7%
$1,377,014
$1.4M
Cap Rate 9%
$1,071,011
$1.1M
Market Conditions
NOI Build-Up for 2,740 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$153.5K $56.04/SF
− Vacancy
−$25.0K −$9.13/SF
EGI
$128.5K $46.91/SF
− OpEx
−$32.1K −$11.73/SF
NOI
$96.4K $35.18/SF
Area
Santa Clara County, CA
Vacancy
16.30%
Lease Rate
$56.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,927,820
Cap Rate 7%
$1,377,014
Cap Rate 9%
$1,071,011
Alternative Uses
Best Use
Office B
$1.38M
$1.20M – $1.61M
NOI $96,391 @ 7.0% cap · market cap 3.33%
Second Best
Warehouse
$793.3K
$694.2K – $925.6K
NOI $55,534 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,793 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95020, CA
68,090
Population
20,679
Households
3.3
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
151.8 sq mi
ZIP Area
449
Density / Sq Mi
$134,242
Median Household Income
$50,421
Median Earnings
$2,256
Median Rent
$1,005,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fenced industrial-use property with multiple structures, dedicated utilities, and Monterey Road frontage.
Where is this flex space located?
The property is located at 10095 Monterey Road Gilroy, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: 2.08‑acre industrial‑use property with Monterey Rd frontage and dual addresses; Approximately 2,740 SF warehouse with about 720 SF of office/conference area; Newer 12x12 rollup door, private entrance/parking, bathroom, and coffee bar
