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    890 Renz Ln Gilroy, CA 95020

    Sponsored
    For Sale
    $9,051,900

    14,821 SF Multi-Tenant Retail Center, 5.81% Cap Rate

    Property size:
    14,821 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A retail investment opportunity presents a 14,821 square foot multi-tenant shopping center in Gilroy, California. Located at 890 Renz Ln, 95020, this property boasts a prime location at the entrance of the Pacheco Pass Shopping Center, directly adjacent to Best Buy and in front of Lowe's. The center is 82% occupied by a mix of regional and national tenants, including GameStop and Sprint, under NNN leases, minimizing landlord responsibilities. Built between 2003 and 2005, the single-story building sits on a 2.39-acre lot with ample parking (5.8 spaces per 1,000 sq ft). The property features excellent visibility and accessibility, benefiting from its proximity to major traffic generators like Lowe's, Costco, and Walmart. The strong tenant mix, coupled with a 5.81% cap rate and a Net Operating Income (NOI) of $623,547, makes this a compelling investment. The property is zoned C3 (Shopping Center Commercial) and has an APN of 841-18-071. Situated at the intersection of Highway 101 and Highway 152 (Pacheco Pass Highway), the center benefits from approximately 110,400 AADT. The affluent demographics, with an average household income exceeding $100,200 within a 3-mile radius, and a rapidly growing population (over 17% growth within a 3-mile radius), further enhance the investment potential. This property offers a unique opportunity to acquire a proven, multi-tenant retail location with solid leasing momentum in a high-growth area. The asking price is $9,051,900.

    Property Features for 890 Renz Ln

    General Information

    Property type
    Lifestyle centers
    Square Feet
    14,821 SF
    Class
    A
    Lot Size
    104,108 SF

    Building Details

    Stories
    1

    HighLights

    • 82% occupancy.
    • 14,821 square foot multi‑tenant retail center with a new lease commencing in 2020.
    • Strong tenant mix including national and regional brands like GameStop and Sprint.
    • Excellent visibility and access as an outparcel to Lowe's and adjacent to Best Buy within the Pacheco Pass Shopping Center.
    • High traffic counts due to proximity to Lowe's, Costco, and Walmart.
    • Prime location at the intersection of Hwy 101 and Hwy 152 (Pacheco Pass Hwy), with approximately 110,400 AADT.
    Property Profile Location Intelligence

    Current Use by Public Records

    Olives Mediterranean Market ... Mediterranean Restaurant Blazin Bagelz Bagel Shop GameStop Video Game Store ATM (TV Shell) Atm The Joint Chiropractic Chiropractor

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gilroy
    County
    Santa Clara
    State
    California
    Longitude
    -121.5520304
    Latitude
    37.0054831

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    FAQs

    What type of property is this?
    Lifestyle center - 14,821 SF Multi-Tenant Retail Center, 5.81% Cap Rate
    Where is this lifestyle center located?
    The property is located at 890 Renz Ln Gilroy, CA.
    What is the asking price?
    The asking price for this property is $9,051,900.
    What are key features of this property?
    This property features: 82% occupancy.; 14,821 square foot multi-tenant retail center with a new lease commencing in 2020.; Strong tenant mix including national and regional brands like GameStop and Sprint.
    Request Owner's contact information
    890 Renz Ln Gilroy, CA 95020
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    890 Renz Ln Gilroy, CA 95020
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