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    405 Alberto Way Los Gatos, CA 95032
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    405 Alberto Way Los Gatos, CA 95032

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    • Retirement homes
    • 2.15 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bolt Porta Potty Rentals / Factory / Metal Fabrication Plant
    • Nastari Linda / Company / Family Counselor
    • Instagram Verification / Media Distribution
    • Lisa Greene / Physician
    • MobiDigger / Consultant

    Property Details for 405 Alberto Way

    Lot size
    2.15 lot acres
    Property type
    Retirement homes
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 2.15-acre development site in Los Gatos, California, presents a unique opportunity to acquire a transformative mixed-use project. Located at 405 Alberto Way, this property is zoned CH and boasts a prime location, just 0.6 miles from North Santa Cruz Avenue and the vibrant downtown area. Currently designed as two 6-story buildings, the project will encompass 78 luxury condo units—65 market-rate and 13 affordable units (120% AMI), achieving a density of 30 units per acre. This aligns perfectly with the Town of Los Gatos' Housing Element Overlay Zone (HEOZ), which encourages higher-density development. Significant progress has already been made on the entitlement process, with numerous revisions to prior plans already completed and vetted by the Town's Public Works and Engineering Department. The streamlined SB 330 submission process is expected to expedite approval, with a projected timeline for project completion by late spring 2025. This represents one of the last remaining large undeveloped parcels in Los Gatos, offering an unparalleled opportunity to capitalize on the area's high demand for housing and its coveted location within a luxury submarket experiencing a significant housing shortage. The median home sales price in this desirable area is $2.64 million, underscoring the exceptional investment potential of this project. The property's APN is 529-23-018. The project's convenient access to downtown Los Gatos and its proximity to numerous amenities further enhance its appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Los Gatos
    County
    Santa Clara
    State
    California
    Longitude
    -121.972
    Latitude
    37.2268

    Comparable in this City

    • Value Estimation by Request

      Los Gatos, CA 95032

      HOMES (RETIRED, NURSING)
      Los Gatos, CA 95032
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    • Value Estimation
      $1,070,000
      41,099 SF

      16412 Los Gatos Blvd

      HOMES (RETIRED, NURSING) • 41,099 SF
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    • Value Estimation by Request
      8.89 Acres

      800 Blossom Hl Rd

      HOMES (RETIRED, NURSING) • 8.89 Acres
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      View Details
    • Value Estimation by Request
      1.30 Acres

      16601 Lark Ave

      HOMES (RETIRED, NURSING) • 1.30 Acres
      16601 Lark Ave, Los Gatos, CA 95032-7652
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    • Value Estimation by Request
      1.15 Acres

      14966 Terreno De Flores Ln

      HOMES (RETIRED, NURSING) • 1.15 Acres
      14966 Terreno De Flores Ln, Los Gatos, CA 95032-2023
      View Details
    • Value Estimation by Request
      1.77 Acres

      350 De Soto Dr

      HOMES (RETIRED, NURSING) • 1.77 Acres
      350 De Soto Dr, Los Gatos, CA 95032-2402
      View Details

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    405 Alberto Way
    Los Gatos, CA 95032
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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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