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Property profile & analytics
OFF-MARKET
Estimated value
$10,275,000
Industrial properties
16840 Joleen Way Morgan Hill, CA 95037-4658
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1733115
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1971
Total area
82,000 SF
Lot
5.51 ac (240,015 SF)
Zoning code
M1
APN
817-11-032
UPID
US09-1733115
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
-
Resto Werks Restaurant
-
Nor Cal Fire Protection General Contractor Security Service
-
Pro Prep Events Event Planning Wedding Service
-
Windvest Motorcycle Windshields Auto Parts Store Motorcycle Shop
-
Tower Biminis, Inc. Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.06M
Blend (final)
Blend
$10.28M
Owner & transaction history
Montebello Investments LLC · 19 yrs held
Montebello Investments LLC
since 2007
6 recorded transactions
Zoning & alternative use
M1 · 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
Blend value · Realmo final
$10.28M
Range $9.25M – $11.30M · ±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
$125 / 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
$94,138
Tax year 2024
Assessed value
$7,881,113
Assessed 2024
Previous assessed
$7,881,113
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$4,071,910
Assessed improvement
$3,809,203
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
1971
Heating
NONE
Cooling
NONE
Stories
1
Units
2
Total area
82,000 SF
Lot
5.51 ac (240,015 SF)
Zoning code
M1
APN
817-11-032
UPID
US09-1733115
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.
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Cooling
Yes
Stories
1
Units
2
Lot
5.51 ac
Current owner
From public records · entity-resolved
Montebello Investments LLC
Entity
Mailing address
15030 MONTEBELLO RD, CUPERTINO, CA 95014-5470
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2020
—
Montebello Investments LLC
—
Deed
related
$3,013,300 · Safe Cu
May 31, 2007
—
Montebello Investments LLC
Burt Dev LLC
Grant Deed
$2,500,000 · Burt Dev LLC
Jun 25, 2003
—
Burt Development LLC
Burton,arthur R
Quit Claim Deed
related
—
Jan 14, 2003
$440,000
A Burton
Ferrari,tr
Grant Deed
—
Aug 22, 2002
—
Ferrari,tr
Burt Development LLC
Grant Deed
related
—
Nov 5, 1996
—
Burt Development LLC
Burt Development
Quit Claim Deed
related
$1,700,000 · Mid Peninsula Bank
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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