890 Renz Ln Gilroy, CA 95020

Property Details for 890 Renz Ln

Year built

2003

Lot size

2.39 lot acres

Property size

15,000 SF

Zone code

A1-25

Property type

Retail space

APN

841-18-071

APU

84118071

Description

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.

Location Insight

City

Gilroy

County

Santa Clara

State

California

Longitude

-121.552

Latitude

37.0054

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments