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Property profile & analytics
OFF-MARKET
Estimated value
$4,725,000
Industrial properties
15005 Concord Cir Morgan Hill, CA 95037-5417
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-0086669
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1985
Construction
TILT-UP CONCRETE
Total area
16,152 SF
Lot
1.1 ac (47,916 SF)
Zoning code
M1
APN
817-06-038
UPID
US09-0086669
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Acrisure Morgan Hill, CA (Pacific Diversified Insurance) Insurance Agency
-
Covered California Certified Agent - Brandi Miller Insurance Agency
-
Custom Labeling & Bottling Industrial Manufacturer Factory
-
RGW Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.73M
CAP Approach
CAP
$4.15M
Comparable Approach
Comparable
$3.66M
Blend (final)
Blend
$4.73M
Owner & transaction history
15005 Concord Circle LLC · 2 yrs held
15005 Concord Circle LLC
since 2024
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
M1 · Morgan Hill, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.8M
+70.6%
Warehouse, storage
$5.7M
+45.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morgan Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morgan Hill submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,725,000
ML approach
$4,725,000
CAP Approach
CAP Return
Estimation
6%
$4,495,000
6.5%
$4,150,000
7%
$3,850,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,955,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,750,000
Change: +71% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,740,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$4.73M
Range $4.25M – $5.20M · ±10% · vs last sale $4.73M (Jun 21 2024)
Last sale anchor
$4.73M
Jun 21 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$293 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$31,503
Tax year 2024
Assessed value
$2,693,339
Assessed 2024
Previous assessed
$2,693,339
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$707,118
Assessed improvement
$1,986,221
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1985
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
16,152 SF
Lot
1.1 ac (47,916 SF)
Zoning code
M1
APN
817-06-038
UPID
US09-0086669
Jurisdiction
SANTA CLARA
Zoning & alternative use
M1 · Morgan Hill, CA
Zoning M1 · permitted uses
M1 · Morgan Hill, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morgan Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$5.7M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
15005 Concord Circle LLC
Entity
Mailing address
15005 CONCORD CIR STE #100, MORGAN HILL, CA 95037-5417
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2024
—
15005 Concord Circle LLC
—
Deed
related
$1,935,000 · Nevada State Development Corporation
Jun 21, 2024
$4,725,000
15005 Concord Circle LLC
Steven Callaway
Grant Deed
$2,362,500 · Heritage Bank Of Nevada
Jun 21, 2024
—
15005 Concord Circle LLC
—
Deed
related
$1,890,000 · Heritage Bank Of Nevada
Apr 14, 2021
$824,000
Barry E Link
Steven Callaway
Grant Deed
—
Jun 11, 2019
—
Callaway 1995 Living Trust
Concord Circle LLC
Quit Claim Deed
—
May 11, 2015
$1,900,000
Concord Circle LLC
Ferguson Holdings LP
Grant Deed
$1,460,000 · Bay Commercial Bank
Jun 17, 2011
$1,246,000
Ferguson Holdings L P
Juan Carlos Casas
Grant Deed
$622,800 · Wells Fargo Bank NA
Jul 18, 2007
$2,000,000
Juan C Casas
Faris,jose E
Grant Deed
$1,000,000 · Comerica Bank
Apr 30, 1993
$970,000
Joseph Faris
John Bodger & So
Grant Deed
$500,000 · Wells Fargo Bank
—
—
Joseph E Faris
—
Deed Of Trust
related
$690,000 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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