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    Historic Hollister Mixed-Use Investment Property Title is generated by Realmo AI

    500 San Benito Street, Hollister, CA 95023

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    For Sale
    $6,565,000

    Downtown Hollister mixed-use property with restaurant and residential units.

    Type:Commercial
    Property size:
    17,569 SF
    Price / SF:
    $373/SF
    Added:
    Jan 7, 2026
    Days on Market:
    129
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 500 San Benito Street

    General Information

    Standard status
    Active
    Size
    17,569 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1929

    We can help!

    Listing Contact
    BRYSON SMITH

    Listing agent BRYSON SMITH License #02118821

    Listing office INTERO REAL ESTATE SERVICES

    Listing date Jan 7, 2026

    Source Corcoran

    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

    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.
    • Historic building (circa 1929) in the Downtown Hollister Historic District with reinforced concrete construction.
    • Recent capital improvements, including a refinished commercial membrane roof.
    • Opportunity to acquire a character‑rich, income‑producing asset with long‑term value.

    Overview

    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.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $3.71M
    NOI $333,952 @ 9.00% cap · cautious / downside scenario
    Moderate
    $4.77M
    NOI $333,952 @ 7.00% cap · market / base-case scenario
    Aggressive
    $6.68M
    NOI $333,952 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    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 Use Scenarios

    Best Use
    Apartment 5plus
    $4.77M
    $4.17M – $5.57M (±1% cap)
    NOI $333,952 @ 7.0% cap · market cap 5.09%
    Second Best
    Specialty Retail
    $4.67M
    $4.09M – $5.45M (±1% cap)
    NOI $326,994 @ 7.0% cap · market cap 4.98%
    Theoretical Best
    Office A
    $10.61M
    $9.28M – $12.37M (±1% cap)
    NOI $742,467 @ 7.0% cap · market cap 11.31%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Baler Steakhouse Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hollister
    County
    San Benito
    State
    California
    Longitude
    -121.402
    Latitude
    36.8513

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    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.**
    (408) 840-7400
    We can help!
    Listing Contact
    BRYSON SMITH
    Real Estate License ID: 02118821
    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.

    More about this property
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    500 San Benito Street, HOLLISTER, CA 95023
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