Downtown Gilroy Land
For Sale
$735,000
7483 Monterey Street, Gilroy, CA 95020
Land in Downtown Gilroy near breweries, restaurants, and retail.
Property Size2,000 SF
Price / SF$367.50
Days on Market269
Property Features for 7483 Monterey Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Amenities
Central air
Common Garage
Lighted Parking Area
On Street
Parking Area
Window/Wall Unit Cooling
Building Details
Year Built
1940
Listing Agency:
KELLER WILLIAMS PROPERTY TEAM
(408) 430-6598
Listed By:
SYLVIA BELL · License #01503487
Source:
Corcoran
Added: Nov 15, 2025
Changed: Aug 8
Last Checked: Aug 8 at 1:27PM
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 2,000-square-foot commercial land is located in Downtown Historical Gilroy, surrounded by breweries, restaurants, and retail shops. The property is situated in an area known for wineries and year-round festivities. Gilroy is centrally located at the southern gateway to Silicon Valley, presenting various opportunities for investment and development. The property is suitable for commercial land, retail, restaurants, and other commercial real estate ventures.
Key Highlights
- Located in Downtown Historical Gilroy, offering access to breweries, restaurants, and retail shops.
- Central location at the southern gateway to Silicon Valley.
- Proximity to Gilroy's wineries and year‑round festivities.
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
$54,023
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
7.35%
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%
$1,080,460
$1.1M
Cap Rate 7%
$771,757
$771.8K
Cap Rate 9%
$600,256
$600.3K
Market Conditions
NOI Build-Up for 2,000 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
$80.9K $40.44/SF
− Vacancy
−$3.7K −$1.85/SF
EGI
$77.2K $38.59/SF
− OpEx
−$23.2K −$11.58/SF
NOI
$54.0K $27.01/SF
Area
Santa Clara County, CA
Vacancy
4.58%
Lease Rate
$40.44 /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%
$1,080,460
Cap Rate 7%
$771,757
Cap Rate 9%
$600,256
Alternative Uses
Best Use
Retail
$771.8K
$675.3K – $900.4K
NOI $54,023 @ 7.0% cap · market cap 7.35%
Second Best
Specialty Retail
$531.8K
$465.3K – $620.4K
NOI $37,224 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,520 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
139k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 30%
Apparel 9%
Hotels & Casinos 1%
Rotten Robbie
Shops & Services
14,748 visits/mo
0.3 miles
Arco AM/PM
Shops & Services
14,016 visits/mo
0.3 miles
Black Bear Diner
Dining
13,433 visits/mo
0.3 miles
Burger King
Dining
13,254 visits/mo
0.4 miles
Chevron
Shops & Services
13,042 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Land in Downtown Gilroy near breweries, restaurants, and retail.
Where is this commercial land located?
The property is located at 7483 Monterey Street Gilroy, CA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Located in Downtown Historical Gilroy, offering access to breweries, restaurants, and retail shops.; Central location at the southern gateway to Silicon Valley.; Proximity to Gilroy's wineries and year‑round festivities.
