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    Prime Ground Lease Opportunity Title is generated by Realmo AI

    310 Lena Ave, Gilroy, CA 95020

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    Claim this Listing
    For Lease
    $4 SF/Yr

    Trophy ground lease pads at high-profile transportation hub.

    Type:Commercial
    Lot size:
    2.00 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    47
    Last Refresh:
    Apr 14 at 6:43 am

    Property Features for 310 Lena Ave

    General Information

    Standard status
    Active
    Lot size
    2.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2026

    We can help!

    Listing Contact
    Grail Nitsch

    Listing agent Grail Nitsch

    Listing office LEGACY REAL ESTATE & ASSOCIATES

    Listing date Apr 15, 2026

    Source Elliman

    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 LEGACY REAL ESTATE & ASSOCIATES

    HighLights

    • Prime ground lease opportunity at a high‑profile transportation hub, the gateway to Silicon Valley.
    • Next‑generation EV and mobility destination with large‑scale EV charging infrastructure.
    • Anchor tenancy secured by a global, top‑tier transportation operator with a long‑term lease.
    • High traffic counts exceeding 400,000 vehicles per day.
    • Roadside Service zoning allows for various uses, including fast food, tire, oil, motel, gas station/EV.
    • Flexible pad sizes available for customized build‑to‑suit development.

    Overview

    This roadside service zoned site is being transformed into a next-generation EV and mobility destination designed to serve both passenger vehicles and commercial transit. The development will feature large-scale EV charging infrastructure alongside complementary, travel-oriented retail and service uses creating a built-in customer base supported by heavy daily traffic and extended dwell times. With traffic counts exceeding 400,000 vehicles per day, it is located in one of the most dynamic corridors in the country. A global, top-tier transportation operator has already committed to a long-term lease and is in the process of securing a ±2-acre pad for a flagship, high-impact truck stop concept. Remaining pad users will benefit from this anchor tenancy and will have the opportunity to select premium locations within the site. Ownership is seeking best-in-class operators for ground leases with options, with flexibility for build-to-suit development. Ideal uses would be fast food, tire, oil, motel gas station/ EV + more. Flexible pad sizes are available for customized development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Kitchen & Bath Showroom Food Market Electrical Service Garden Center Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilroy
    County
    Santa Clara
    State
    California
    Longitude
    -121.5888925
    Latitude
    37.0596525

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    FAQs

    What type of property is this?
    Commercial land - Trophy ground lease pads at high-profile transportation hub.
    Where is this commercial land located?
    The property is located at 310 Lena Ave Gilroy, CA.
    What is the lease rate?
    The lease rate is $4 SF/Yr.
    What are key features of this property?
    This property features: Prime ground lease opportunity at a high‑profile transportation hub, the gateway to Silicon Valley.; Next‑generation EV and mobility destination with **large‑scale EV charging infrastructure**.; **Anchor tenancy secured** by a global, top‑tier transportation operator with a long‑term lease.
    (650) 772-1519
    We can help!
    Listing Contact
    Grail Nitsch
    Learn More
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    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.

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