Off-Grid Duplex with Two
For Sale
$1,200,000
620 Broadway, Gilroy, CA 95020
New off-grid duplex built with SIP technology, offering two 2-bedroom, 2-bath units with premium interior finishes.
Property Size1,600 SF
Price / SF$750
Days on Market400
Property Features for 620 Broadway
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
3
Electric Dryer
Washer Hook Ups
Zero Lot Line.
Building Details
Year Built
2026
Stories
2
Tenancy
Multi
Listing Agency:
CMT Properties Inc.
(559) 349-8589
Listed By:
John Porter · License #01981468
(559) 618-1230
Source:
Xome
Added: Aug 4, 2025
Changed: Sep 1
Last Checked: Sep 6 at 4:29AM
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 CMT Properties Inc.
Investment Insights
Based on property information with market context.
Welcome to FBX Homes, a new construction off-grid duplex built with precision-engineered SIP technology designed for superior efficiency. The property consists of two units, and each unit features two bedrooms and two bathrooms. Interiors include gourmet kitchens and luxury vinyl planking, along with superior R-value insulation. The public remarks also note significantly lower utility bills compared to regular construction methods.
The property is located at 620 Broadway in Gilroy, CA. According to the remarks, the Gilroy Transit Center is just minutes away, and nearby attractions include Gilroy Gardens, Gilroy Premium Outlets, and Casa De Fruta.
This duplex is presented with durable, premium finishes intended to support long-term occupancy, with each unit positioned for either rental or owner-occupied resilience as described in the remarks.
The property is located at 620 Broadway in Gilroy, CA. According to the remarks, the Gilroy Transit Center is just minutes away, and nearby attractions include Gilroy Gardens, Gilroy Premium Outlets, and Casa De Fruta.
This duplex is presented with durable, premium finishes intended to support long-term occupancy, with each unit positioned for either rental or owner-occupied resilience as described in the remarks.
Key Highlights
- Off‑grid duplex new construction built with precision‑engineered SIP technology for efficiency
- 2 units total, each featuring 2 bedrooms and 2 bathrooms
- Each unit includes a gourmet kitchen and luxury vinyl planking
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
$35,668
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
2.97%
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%
$713,360
$713.4K
Cap Rate 7%
$509,543
$509.5K
Cap Rate 9%
$396,311
$396.3K
Market Conditions
NOI Build-Up for 1,600 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
$53.8K $33.60/SF
− Vacancy
−$2.8K −$1.75/SF
EGI
$51.0K $31.85/SF
− OpEx
−$15.3K −$9.55/SF
NOI
$35.7K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
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%
$713,360
Cap Rate 7%
$509,543
Cap Rate 9%
$396,311
Alternative Uses
Best Use
Multifamily LT 5
$509.5K
$445.9K – $594.5K
NOI $35,668 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$965.9K
$845.2K – $1.13M
NOI $67,616 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 95020, CA
68,090
Population
20,679
Households
3.3
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
151.8 sq mi
ZIP Area
449
Density / Sq Mi
$134,242
Median Household Income
$50,421
Median Earnings
$2,256
Median Rent
$1,005,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - New off-grid duplex built with SIP technology, offering two 2-bedroom, 2-bath units with premium interior finishes.
Where is this duplex located?
The property is located at 620 Broadway Gilroy, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Off‑grid duplex new construction built with precision‑engineered SIP technology for efficiency; 2 units total, each featuring 2 bedrooms and 2 bathrooms; Each unit includes a gourmet kitchen and luxury vinyl planking
