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Property profile & analytics
FOR SALE
Retail space
16175 Condit Rd Morgan Hill, CA 95037
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2294166
For Sale
1 / 2
$8,826,000
16175 Condit Rd, Morgan Hill, CA 95037
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Construction
TILT-UP CONCRETE
Total area
22,065 SF
Lot
2.48 ac (108,028 SF)
Zoning code
PUD
APN
817-13-027
UPID
US10-2294166
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
-
House of Thunder Harley-Davidson Motorcycle Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.16M
Owner & transaction history
Live Wire LLC · 9 yrs held
Live Wire LLC
since 2017
7 recorded transactions
Zoning & alternative use
PUD · Morgan Hill, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$9,225,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$6.16M
Range $5.54M – $6.77M · ±10%
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
$279 / 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
$83,828
Tax year 2024
Assessed value
$7,247,067
Assessed 2024
Previous assessed
$7,247,067
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,755,032
Assessed improvement
$5,492,035
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
2004
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
22,065 SF
Lot
2.48 ac (108,028 SF)
Zoning code
PUD
APN
817-13-027
UPID
US10-2294166
Jurisdiction
SANTA CLARA
Zoning & alternative use
PUD · Morgan Hill, CA
Zoning PUD · permitted uses
PUD · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.2M
APARTMENT HOUSE (5+ UNITS)
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
2004
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.48 ac
Current owner
From public records · entity-resolved
Live Wire LLC
Entity
Mailing address
2398 BENTLEY RDG DR, SAN JOSE, CA 95138-2435
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2020
—
Live Wire LLC
—
Deed
related
—
May 16, 2017
—
Live Wire LLC
Live Wire LLC
Quit Claim Deed
related
$2,400,000 · Heritage Bk/commerce
Nov 14, 2000
—
Live Wire LLC
Tan,wilson & Helen
Trustees Deed
$772,200 · South Valley National Bank
Nov 14, 2000
$1,188,000
Tan,wilson & Helen
Tan & Associates Partnership
Trustees Deed
related
—
—
—
Live Wire LLC
—
Loan Modification
related
—
—
—
Lee P./lee J. Trustee
—
Deed Of Trust
related
$150,000 · Individual
—
—
Live Wire LLC
—
Deed Of Trust
related
$3,653,650 · Wells Fargo Bank
—
—
Live Wire LLC
—
Deed Of Trust
related
$1,263,000 · Wells Fargo Bank
—
—
Live Wire LLC
—
Deed Of Trust
related
$1,300,000 · Bay Area Emp Development
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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