Organic Farm with Cold
For Sale
$1,400,000
1010 Union Road, Hollister, CA 95023
24+ acre organic farm with cold storage near Hollister.
Property Size1,917 SF
Lot Size24.24 Acres
Price / SF$400
Days on Market302
Property Features for 1010 Union Road
General Information
Standard status
Active
Size
1,917 SF
Lot size
24.24 Acres
Property subtype
Farm
Amenities
No Heating
Propane, Composition
Building Details
Building Size
1,917 SF
Year Built
1880
Listing Agency:
Intero Real Estate Services
(831) 801-1222
Listed By:
Karey Grimsley · License #01116747
(831) 801-1222
Source:
Kw
Added: Oct 29, 2025
Changed: Aug 25
Last Checked: Aug 25 at 5:07PM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This property features over 24 acres of agricultural land that has been used for certified organic crops for over ten years. Multiple functional structures are present, including a detached shop/garage, packing sheds, and an approximately 3,500± sq. ft. cold-storage warehouse with three temperature-controlled rooms. Also included is a vintage 1880s farmhouse, currently in poor condition, presenting an opportunity for remodeling. The property is located just outside the City of Hollister, offering potential for continued agricultural use or future development.
Key Highlights
- 24+ acres of prime agricultural land with certified organic crop production for over a decade.
- Approximately 3,500± sq. ft. cold‑storage warehouse with three temperature‑controlled rooms.
- Multiple functional structures including detached shop/garage and packing sheds.
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
$70,937
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
5.07%
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%
$1,418,740
$1.4M
Cap Rate 7%
$1,013,386
$1.0M
Cap Rate 9%
$788,189
$788.2K
Market Conditions
NOI Build-Up for 3,500 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
$90.3K $25.80/SF
− Vacancy
−$6.8K −$1.96/SF
EGI
$83.5K $23.84/SF
− OpEx
−$12.5K −$3.58/SF
NOI
$70.9K $20.27/SF
Area
San Benito County, CA
Vacancy
7.58%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,418,740
Cap Rate 7%
$1,013,386
Cap Rate 9%
$788,189
Alternative Uses
Best Use
Warehouse
$1.01M
$886.7K – $1.18M
NOI $70,937 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $147,910 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 95023, CA
56,973
Population
18,043
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
83%
High-School Grad
394.8 sq mi
ZIP Area
144
Density / Sq Mi
$108,156
Median Household Income
$47,362
Median Earnings
$1,908
Median Rent
$740,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Farm - 24+ acre organic farm with cold storage near Hollister.
Where is this farm located?
The property is located at 1010 Union Road Hollister, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 24+ acres of prime agricultural land with certified organic crop production for over a decade.; Approximately 3,500± sq. ft. cold‑storage warehouse with three temperature‑controlled rooms.; Multiple functional structures including detached shop/garage and packing sheds.
