Historic Hollister Mixed-Use Investment
500 San Benito Street Hollister, CA 95023
500 San Benito Street, Hollister, CA, 95023
$6,565,000
For Sale
$6,565,000
Downtown Hollister mixed-use property with restaurant and residential units.
Property Size17,569 SF
Price / SF$373.67
Days on Market194
Property Features for 500 San Benito Street
General Information
- Standard status
- Active
- Size
- 17,569 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1929
Listing Agency
INTERO REAL ESTATE SERVICES
(408) 840-7400
Listed by
BRYSON SMITH · License #02118821
Source
Corcoran
Added: Jan 7 Updated: Jul 6 at 9:57 am Checked: Jul 20 at 6:01 am
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.
Located in the heart of Downtown Hollister, 500 San Benito Street is a historic mixed-use investment property. Constructed in the late 1920s, the property is a contributing structure within the Downtown Hollister Historic District and features reinforced concrete construction. The building includes a ground-floor restaurant and residential units above. The commercial space is currently leased. The property is undergoing a significant renovation, with the building shell and structural components updated both inside and out. The residential portion is being built out to include 12 apartments, consisting of six one-bedroom units and six two-bedroom units. Individual unit control is provided via ductless mini-split HVAC systems. Recent capital improvements include a refinished low-slope commercial membrane roof. Renovations are in progress and nearing completion, positioning the property for stabilized mixed-use operation. The property is near City Hall, retail, dining, and civic amenities. The property size is 17569 square feet.
Key Highlights
- Stable in‑place income from leased commercial space (restaurant).
- Prime downtown location near City Hall, retail, dining, and civic amenities.
- Significant renovation underway, including 12 new apartments (6 one‑bedroom, 6 two‑bedroom) with individual mini‑split HVAC systems.
Local Financial Insights For Apartment 5plus
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 | $632.5k | $36.00 |
| − Vacancy | −$25.3k | −$1.44 |
| EGI | $607.2k | $34.56 |
| − OpEx | −$273.2k | −$15.55 |
| NOI | $334.0k | $19.01 |
17,569 SF · lease $36.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.77M
$4.17M – $5.57M
NOI $333,952 @ 7.0% cap · market cap 5.09%
Second Best
Specialty Retail
$4.67M
$4.09M – $5.45M
NOI $326,994 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$10.61M
$9.28M – $12.37M
NOI $742,467 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Baler Steakhouse
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Downtown Hollister mixed-use property with restaurant and residential units.
Where is this mixed-use property located?
The property is located at 500 San Benito Street Hollister, CA.
What is the asking price?
The asking price for this property is $6,565,000.
What are key features of this property?
This property features: Stable in‑place income from leased commercial space (restaurant).; Prime downtown location near City Hall, retail, dining, and civic amenities.; Significant renovation underway, including **12 new apartments (6 one‑bedroom, 6 two‑bedroom) with individual mini‑split HVAC systems.**
