Building Details

Year Built 2007

Tenancy Multi

Listing Agency: Compass

Listed By: Guy Giuffre · License #01393931 Show Phone

Source: Giuffreproperties

Added: Feb 17 Changed: Oct 28 Last Checked: Oct 28 at 2:33PM

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Investment Insights

Based on property information with market context.

Built in 2007, this indoor shopping center contains retail stores and office space. Its tenant offerings focus on personalized services, and the businesses are not franchised.

The property is at 7660 Monterey Street in downtown Gilroy’s Historical District.

Key Highlights

• Indoor shopping center with retail stores and office space
• Businesses offer personalized services and are not franchised
• Built in 2007

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$5,141

Suggested Prices Based on Cap Rates

Cap Rate 5%

$102,820 $102.8K

Cap Rate 7%

$73,443 $73.4K

Cap Rate 9%

$57,122 $57.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 298 SF

Gross rent

$8.9K $30.00/SF

− Vacancy

−$715 −$2.40/SF

EGI

$8.2K $27.60/SF

− OpEx

−$3.1K −$10.35/SF

NOI

$5.1K $17.25/SF

Area

Santa Clara County, CA

Vacancy

8.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$102,820

Cap Rate 7%

$73,443

Cap Rate 9%

$57,122

Alternative Uses

Best Use

Retail

$115.0K

$100.6K – $134.2K (±1% cap)

NOI $8,049 @ 7.0% cap · market cap 699.91%

Second Best

Mixed Use

$73.4K

$64.3K – $85.7K (±1% cap)

NOI $5,141 @ 7.0% cap · market cap 447.04%

Theoretical Best

Office A

$179.9K

$157.4K – $209.9K (±1% cap)

NOI $12,594 @ 7.0% cap · market cap 1,095.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Catering Service Pet Grooming Service (Bike/Boat/Book/etc) Store Electrical Service Pet Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,519

Businesses Nearby

16k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 80% Shops & Services 20%

Jack in the Box Dining

12,407 visits/mo 0.3 miles

BMO Harris Bank Shops & Services

1,851 visits/mo 0.3 miles

Napa Auto Parts Shops & Services

697 visits/mo 0.3 miles

SpeeDee Oil Change & Auto Service Shops & Services

628 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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Similar Off Market Nearby

• Gilroy Village — Gilroy, CA 95020
• South Valley Plaza Shopping Center — 6940 Chestnut St, Gilroy, CA 95020
• Novedades Los Koras — 7243 monterey rd, gilroy, ca 95020
• Laurel Square — Gilroy, CA 95020
• The Downtown Gilroy Mall at Old City Hall — 7412 Monterey Rd, Gilroy, CA 95020

Frequently Asked Questions

What type of property is this?

Shopping center - The downtown property brings together retail stores and offices offering personalized services.

Where is this shopping center located?

The property is located at 7660 Monterey ST Suite 101 Gilroy, CA.

What are key features of this property?

This property features: Indoor shopping center with retail stores and office space; Businesses offer personalized services and are not franchised; Built in 2007