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Property profile & analytics
OFF-MARKET
Estimated value
$2,610,000
Warehouses
16500 Railroad Ave, Morgan Hill, CA 95037-5209
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US10-2428018
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1930
Construction
WOOD
Total area
1,200 SF
Lot
2.52 ac (109,771 SF)
Zoning code
MG
APN
817-58-002
UPID
US10-2428018
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.61M
Owner & transaction history
Thompson & Harvey Bay Area LLC · 5 yrs held
Thompson & Harvey Bay Area LLC
since 2020
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
MG · 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
$2,730,000
ML approach
$2,875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.61M
Range $2.35M – $2.87M · ±10% · vs last sale $2.42M (Nov 6 2020)
Last sale anchor
$2.42M
Nov 6 2020
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
$2,175 / 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
$40,175
Tax year 2024
Assessed value
$3,346,899
Assessed 2024
Previous assessed
$3,346,899
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$2,546,899
Assessed improvement
$800,000
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1930
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
1,200 SF
Lot
2.52 ac (109,771 SF)
Zoning code
MG
APN
817-58-002
UPID
US10-2428018
Jurisdiction
SANTA CLARA
Zoning & alternative use
MG · Morgan Hill, CA
Zoning MG · permitted uses
MG · 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.
Building & site characteristics
From public records
Year built
1930
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
2.52 ac
Current owner
From public records · entity-resolved
Thompson & Harvey Bay Area LLC
Entity
Mailing address
PO BOX 2067, ORCUTT, CA 93457-2067
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2025
—
Thompson & Harvey Bay Area LLC
—
Deed
related
$2,500,000 · Jpmorgan Chase Bank NA
Nov 6, 2020
$2,415,000
Thompson & Harvey Bay Area LLC
David W Lander
Grant Deed
$1,400,000 · Us Bank NA
Mar 7, 2011
$595,000
David W Lander
Cosentini Leonard Trust
Grant Deed
$500,000 · Cosentini Leonard Trust
Dec 9, 2010
—
Cosentini Leonard Trust
H L Powell Paving INC
Deed In Lieu Of Foreclosure
related
—
Mar 24, 2008
$600,000
Hl Powell Paving INC
Cosentini Leonard Trust
Grant Deed
$500,000 · Cosentini Leonard Trust
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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