Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Spaces in Candy Park Title is generated by Realmo AI

    Monterey Street, Morgan Hill, CA 95037

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,550/Mo $1.42 SF/Yr (calc)

    Prime commercial spaces available in high-traffic Morgan Hill shopping center.

    Type:Commercial
    Property size:
    21,500 SF
    Lot size:
    1.63 Acres
    Added:
    Jul 29, 2025
    Days on Market:
    292
    Last Refresh:
    Apr 5 at 8:14 pm

    Property Features for Monterey Street

    General Information

    Standard status
    Active
    Size
    21,500 SF
    Lot size
    1.63 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    WASEEM RABIH

    Listing agent WASEEM RABIH License #01740892

    Listing office KELLER WILLIAMS REALTY

    Listing date Jul 29, 2025

    Source Corcoran

    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 REALTY

    HighLights

    • High‑visibility location in a high‑traffic shopping center (Candy Park Center) on Monterey Road.
    • Move‑in ready spaces suitable for various business types.
    • Located in a well‑maintained center in one of Morgan Hill’s busiest commercial corridors.
    • Gross monthly rent with landlord covering water and garbage.
    • Located on the same building side as Parktown Pizza.
    • Part of a thriving business community with 16 established local businesses.

    Overview

    Two retail/commercial suites are available for lease at Candy Park Center, a shopping plaza on Monterey Road in Morgan Hill. The center is home to 16 established local businesses and experiences high visibility and traffic. The available suites are located on the same building side as Parktown Pizza. These spaces are move-in ready and suitable for various business types seeking exposure and consistent foot traffic. The landlord covers water and garbage expenses. Candy Park Center is situated in one of Morgan Hill’s busiest commercial corridors. The property is part of a 21,500 square foot shopping center.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Morgan Hill
    County
    Santa Clara
    State
    California
    Longitude
    -121.629516
    Latitude
    37.10467

    Nearby Similar for Lease

    • $5,608/Mo
      2,411 SF

      Prestigious Morgan Hill Office Suite

      Exceptional office suite in premier Morgan Hill location for rent.
      18525 Sutter Blvd 280, Morgan Hill, CA 95037
      View Details
    • $1,440/Mo
      1,440 SF

      Office Space Available For Rent

      Office space available for lease with 1440 square feet.
      605 Tennant Ave, Suite B, Morgan Hill, CA 95037
      View Details
    • $0.90 SF/Yr
      25,571 SF

      Morgan Hill Industrial Flex Space

      Industrial flex space with fenced yard available for lease.
      640 E Dunne Ave, Morgan Hill, CA
      View Details
    • $1.35 SF/Yr
      258,122 SF

      Advanced Manufacturing Building For Rent

      258,122 SF manufacturing building with expansion possibilities in Morgan Hill.
      755 Jarvis Drive, Morgan Hill, CA, 95037
      View Details
    • Contact for pricing
      2,926 SF

      Mission Style Commercial Space

      High-quality commercial space with strong co-tenants in Morgan Hill.
      755-795 Cochrane Road, Morgan Hill, California 95037
      View Details
    • $1.40 SF/Yr
      4,992 SF

      Light Industrial Building For Rent

      4,992 SF light industrial building with office space available.
      120 Mast Street, Morgan Hill, CA, 95037
      View Details
    • $30 SF/Yr
      1,906 SF

      Retail Space in Active Corridor

      High-visibility retail space available December 2025 in Morgan Hill.
      16113 Monterey Rd, Morgan Hill, CA 95037
      View Details
    • Contact for pricing
      60,000 SF

      Office/R&D Building in Morgan Hill

      Two-story office/R&D building with expansion potential in Morgan Hill.
      18705 Madrone Parkway, Morgan Hill, CA, 95037
      View Details
    • $1.50 SF/Yr
      4,360 SF

      Morgan Hill R&D Building

      R&D building with manufacturing/assembly space available for lease.
      235 Vineyard Ct, Morgan Hill, CA
      View Details
    • $1.50 SF/Yr
      1,440 SF

      Corner Office Space Available

      Second floor office space with excellent visibility and easy access.
      605 Tennant Ave, Morgan Hill, CA
      View Details
    • $0.22 SF/Yr
      2,340 SF

      Industrial Space with Fenced Yard

      Industrial space featuring a fenced yard in Santa Clara County.
      18145 Peet Rd, Morgan Hill, CA
      View Details
    • $1.95 SF/Yr
      1,029 SF

      Morgan Hill Office Space Available

      Office space for rent with highway access and kitchenette.
      16035 Caputo Dr, Morgan Hill, CA
      View Details

    FAQs

    What type of property is this?
    Shopping center - Prime commercial spaces available in high-traffic Morgan Hill shopping center.
    Where is this shopping center located?
    The property is located at Monterey Street Morgan Hill, CA.
    What is the lease rate?
    The lease rate is $2,550 /Mo.
    What are key features of this property?
    This property features: High‑visibility location in a high‑traffic shopping center (Candy Park Center) on Monterey Road.; Move‑in ready spaces suitable for various business types.; Located in a well‑maintained center in one of Morgan Hill’s busiest commercial corridors.
    (949) 482-3999
    We can help!
    Listing Contact
    WASEEM RABIH
    Real Estate License ID: 01740892
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Monterey Street, Morgan Hill, CA 95037
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!