Downtown Hollister Mixed-Use
For Sale
$1,300,000
721 Monterey Street, Hollister, CA 95023
Mixed-use property with residential and commercial space in downtown Hollister.
Property Size1,888 SF
Price / SF$688.56
Days on Market452
Property Features for 721 Monterey Street
General Information
Standard status
Active
Size
1,888 SF
Building Details
Year Built
1915
Listing Agency:
KELLER WILLIAMS PROPERTY TEAM
Listed By:
RAQUEL LOPEZ
Source:
Corcoran
Added: Jun 19, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 KELLER WILLIAMS PROPERTY TEAM
Investment Insights
Based on property information with market context.
This mixed-use property in downtown Hollister offers both residential and commercial space. The upstairs residential unit features 3 bedrooms, 2 bathrooms, a spacious family room, and a full kitchen. Downstairs is commercial office space that includes 5 private office rooms, 1 full bath, and 2 half baths. The property has been recently renovated and is move-in ready. It is suitable for a variety of professional uses such as accounting, legal, finance, real estate, counseling, or dispatching. The property provides on-site living quarters, offering a work-from-home solution. The building has a total size of 1888 square feet.
Key Highlights
- Mixed‑Use Property: Featuring a 3 bed, 2 bath residence and commercial space with 5 offices, 1 full bath, and 2 half baths.
- Move‑In Ready: Recently renovated and in turn‑key condition.
- Prime Location: Enjoy the convenience and accessibility of a downtown location.
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
$66,418
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
5.11%
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%
$1,328,360
$1.3M
Cap Rate 7%
$948,829
$948.8K
Cap Rate 9%
$737,978
$738.0K
Market Conditions
NOI Build-Up for 1,888 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
$105.8K $56.04/SF
− Vacancy
−$17.2K −$9.13/SF
EGI
$88.6K $46.91/SF
− OpEx
−$22.1K −$11.73/SF
NOI
$66.4K $35.18/SF
Area
San Benito 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%
$1,328,360
Cap Rate 7%
$948,829
Cap Rate 9%
$737,978
Alternative Uses
Best Use
Office B
$948.8K
$830.2K – $1.11M
NOI $66,418 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$512.7K
$448.6K – $598.1K
NOI $35,887 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.14M
$997.3K – $1.33M
NOI $79,787 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,225
Businesses Nearby
Explore this area
Business Placement
Demographics for 95023, CA
56,973
Population
18,043
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
83%
High-School Grad
394.8 sq mi
ZIP Area
144
Density / Sq Mi
$108,156
Median Household Income
$47,362
Median Earnings
$1,908
Median Rent
$740,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with residential and commercial space in downtown Hollister.
Where is this mixed-use property located?
The property is located at 721 Monterey Street Hollister, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Mixed‑Use Property: Featuring a 3 bed, 2 bath residence and commercial space with 5 offices, 1 full bath, and 2 half baths.; Move‑In Ready: Recently renovated and in turn‑key condition.; Prime Location: Enjoy the convenience and accessibility of a downtown location.
