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    Gilroy Mixed-Use Commercial Property Title is generated by Realmo AI

    GILROY, Gilroy 95020

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    For Sale
    $8,999,000

    COMMERCIAL - GILROY

    Lot size:
    10.00 Acres
    Added:
    Apr 12, 2026
    Days on Market:
    40
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for GILROY

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    A140
    Parking
    2
    Parking features
    Garage - Attached
    Standard status
    Active
    Lot size
    10.00 Acres

    Utilities

    Water source
    Public

    Building Details

    Year built
    1940
    Roof type
    Composition

    We can help!

    Listing Contact
    Jeremy Daviner
    Jeremy Daviner

    Listing agent Jeremy Daviner License #01318144

    Listing office Intero Real Estate Services 175 E Main Ave, Suite 130, Cupertino, CA

    Listing date Apr 12, 2026

    MLS# ML82023359

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 195 Feet of Frontage visible from US 101 with high traffic count (75,000 vehicles daily).
    • 10 Acres Total.
    • Mixed‑use building with two 3‑bedroom, 1‑bath apartments and a bar/restaurant space.
    • Zoning: Mixed Use Commercial (CM or M1) with future City Gateway District (GD) designation.
    • Potential Rental Income: Prior rents around $7,000/month.
    • Proximity to Proposed Sharks Ice and Sports Park.

    Overview

    This 10-acre property in Gilroy features a mixed-use building with frontage visible from US 101. The location sees an estimated 75,000 vehicles passing daily. The mixed-use building includes two 3-bedroom, 1-bath apartments on the second level. The lower level features a large bar, kitchen, stage, and two restrooms. The zoning was previously Mixed Use Commercial (CM or M1) and is designated as City Gateway District (GD) in the City of Gilroy's 2040 plan. Prior rents were approximately $7,000 per month. The property was formerly the Senaidas Painted Wagon Restaurant and Bar. A proposed Sharks Ice and Sports park is located nearby. The zoning is A140.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilroy
    County
    Santa Clara
    State
    Longitude
    -121.468
    Latitude
    37.0418

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      Downtown Gilroy Commercial Building

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with frontage on US 101 in Gilroy.
    Where is this mixed-use property located?
    The property is located at GILROY Gilroy.
    What is the asking price?
    The asking price for this property is $8,999,000.
    What are key features of this property?
    This property features: 195 Feet of Frontage visible from US 101 with high traffic count (75,000 vehicles daily).; 10 Acres Total.; Mixed‑use building with two 3‑bedroom, 1‑bath apartments and a bar/restaurant space.
    (408) 710-3459
    We can help!
    Listing Contact
    Jeremy Daviner
    Jeremy Daviner
    Real Estate License ID: 01318144
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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