Cold Shell Retail
18491 Monterey Road Morgan Hill, CA 95037
18491 Monterey Road, Morgan Hill, CA, 95037
$449,000
For Sale
$449,000
Five fully built cold shell retail units are offered separately within a townhome-style community.
Property Size638 SF
Price / SF$703.76
Days on Market59
Property Features for 18491 Monterey Road
General Information
- Standard status
- Active
- Size
- 638 SF
- Property subtype
- Commercial Sale / Mixed Use
Listing agency
City Ventures Construction, Inc
(831) 840-1068
Listed by
Petrise Switzer · License #01862316
(831) 840-1068
Source
Compass
Added: May 26 Updated: Jul 21 at 11:37PM Checked: Jul 22 at 10:14AM
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 City Ventures Construction, Inc
Investment Insights
Based on property information with market context.
The Gates Commercial Units consist of five fully built cold shell retail spaces located at 18491, 18483, 18475, 18467, and 18459 Monterey Road. The units range in size from 626 to 1,340 square feet and are offered separately from the adjacent 49-unit townhome-style condominium community.
Positioned adjacent to an established and active retail corridor, the commercial units benefit from nearby retail anchors including Starbucks, a nail salon, a hair salon, and an AMPM.
The project is designed as part of a modern all-electric, solar-powered community.
Positioned adjacent to an established and active retail corridor, the commercial units benefit from nearby retail anchors including Starbucks, a nail salon, a hair salon, and an AMPM.
The project is designed as part of a modern all-electric, solar-powered community.
Key Highlights
- Five fully built cold shell commercial retail units offered separately within a townhome‑style community
- Unit addresses: 18491, 18483, 18475, 18467, and 18459 Monterey Road
- Retail units range in size from 626 to 1,340 SF
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.8k | $40.44 |
| − Vacancy | −$1.2k | −$1.85 |
| EGI | $24.6k | $38.59 |
| − OpEx | −$7.4k | −$11.58 |
| NOI | $17.2k | $27.01 |
638 SF · lease $40.44/SF/yr · vacancy 4.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$246.2K
$215.4K – $287.2K
NOI $17,233 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$385.2K
$337.0K – $449.4K
NOI $26,962 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Five fully built cold shell retail units are offered separately within a townhome-style community.
Where is this retail space located?
The property is located at 18491 Monterey Road Morgan Hill, CA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Five fully built cold shell commercial retail units offered separately within a townhome‑style community; Unit addresses: 18491, 18483, 18475, 18467, and 18459 Monterey Road; Retail units range in size from 626 to 1,340 SF
