Vacant Warehouse
New
For Sale
$1,900,000
6380 Monterey Road, Gilroy, CA 95020
Single-building warehouse property with RV use designated for offices.
Property Size4,000 SF
Price / SF$475
Days on Market4
Property Features for 6380 Monterey Road
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1948
Buildings
1
Listing Agency:
Cal-Neva Realty
(408) 705-0885
Listed By:
Fe Casem · License #01391790
Source:
Exitrealty
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 9 at 6:52AM
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 Cal-Neva Realty
Investment Insights
Based on property information with market context.
This vacant commercial property includes one warehouse building and RV use for offices. The building was constructed in 1948 and is located at 6380 Monterey Road in Gilroy, California.
Key Highlights
- Vacant warehouse property
- One warehouse building
- RV use for offices
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
$140,716
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
7.41%
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%
$2,814,320
$2.8M
Cap Rate 7%
$2,010,229
$2.0M
Cap Rate 9%
$1,563,511
$1.6M
Market Conditions
NOI Build-Up for 4,000 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
$224.2K $56.04/SF
− Vacancy
−$36.5K −$9.13/SF
EGI
$187.6K $46.91/SF
− OpEx
−$46.9K −$11.73/SF
NOI
$140.7K $35.18/SF
Area
Santa Clara County, CA
Vacancy
16.30%
Lease Rate
$56.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,814,320
Cap Rate 7%
$2,010,229
Cap Rate 9%
$1,563,511
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.35M
NOI $140,716 @ 7.0% cap · market cap 7.41%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $81,071 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$2.41M
$2.11M – $2.82M
NOI $169,040 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Well-served
Demand for This Use
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pacheco Pass Self Storage — 6600 Brem Ln, Gilroy, CA 95020
- Mini Storage of Gilroy — 50 E Luchessa Ave, Gilroy, CA 95020
- Simply Self Storage Unit Near Gilroy — 770 w 8th st, gilroy, ca 95020
Frequently Asked Questions
What type of property is this?
Warehouse - Single-building warehouse property with RV use designated for offices.
Where is this warehouse located?
The property is located at 6380 Monterey Road Gilroy, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Vacant warehouse property; One warehouse building; RV use for offices
