Current Use by Public Records
- Investment properties
Property Details for Monterey Rd Rd
- Lot size
- 1.10 lot acres
- Property type
- Investment properties
Description
This exceptional 1.1-acre property in Gilroy, CA, presents a compelling mixed-use development opportunity. The 7,658 square foot site offers the potential to create up to 50 residential units, combined with commercial space, fostering a vibrant and diverse community. Preliminary assessments suggest a high-density development is feasible, maximizing the land's potential. The property's strategic location in Gilroy provides excellent access to transportation networks and local amenities. Furthermore, an adjacent property owner has expressed interest in an assemblage, presenting the exciting possibility of acquiring an entire city block for a truly transformative integrated development project. This would allow for a larger-scale vision, creating a cohesive and impactful community asset. Currently, the property generates supplemental income through an existing motel operation, with the potential to exceed $150,000 annually during the development and planning phases. This provides a significant financial buffer while navigating the development process. This is a rare chance to shape the future of Gilroy, creating a landmark mixed-use development. The potential for significant return on investment, coupled with the opportunity to contribute to the community's growth, makes this an unparalleled opportunity.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gilroy
- County
- Santa Clara
- State
- California
- Longitude
- -121.551
- Latitude
- 36.9584
