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    Property profile & analytics

    17020 Condit Rd Morgan Hill, CA 95037-7229

    • Retail space
    • 9,570 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimations
    $3,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0728417
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Subway / Take-out & Catering / Catering Service
    • King's Cleaners / (Bike/Boat/Book/etc) Store
    • Lava Smoke & Cigar / (Bike/Boat/Book/etc) Store
    • Morgan Hill Dental Studio / Dental Office
    • Mountain Mike's Pizza / Restaurant

    Property Details for 17020 Condit Rd

    Year built
    1998
    Construction
    WOOD
    Lot size
    0.84 lot acres
    Property size
    9,570 SF
    Zone code
    CN
    Property type
    Retail space
    APN
    728-17-017
    APU
    72817017

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,310,000
      6.5%
      $3,975,000
      7%
      $3,695,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,760,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $4,000,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morgan Hill
    County
    Santa Clara
    State
    California
    Longitude
    -121.63
    Latitude
    37.1336
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $44,630
    $1,205,473
    $2,682,192
    $3,887,665
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,750,000
      26,400 SF

      17045 Condit Rd

      RETAIL STORES (PERSONAL SERVICES) • 26,400 SF
      17045 Condit Rd, Morgan Hill, CA 95037-3301
      View Details
    • Value Estimation
      $1,935,000
      6,169 SF

      275 Dunne Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,169 SF
      275 Dunne Ave, Morgan Hill, CA 95037-4610
      View Details
    • Value Estimation
      $1,810,000
      10,240 SF

      17520 Monterey St

      RETAIL STORES (PERSONAL SERVICES) • 10,240 SF
      17520 Monterey St, Morgan Hill, CA 95037-3646
      View Details
    • Value Estimation
      $4,505,000
      17,002 SF

      16995 Walnut Grv Dr

      RETAIL STORES (PERSONAL SERVICES) • 17,002 SF
      16995 Walnut Grv Dr, Morgan Hill, CA 95037-4440
      View Details
    • Value Estimation by Request
      1,044 SF

      17270 Monterey St

      RETAIL STORES (PERSONAL SERVICES) • 1,044 SF
      17270 Monterey St, Morgan Hill, CA 95037-3640
      View Details
    • Value Estimation by Request

      Morgan Hill, CA 95037

      RETAIL STORES (PERSONAL SERVICES)
      Morgan Hill, CA 95037
      View Details

    Similar Nearby for Sale

    • $8,826,000
      22,065 SF

      Freestanding Showroom on 2.48 Acres

      22,065 SF showroom with service department on 2.48 AC.
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      View Details
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    Similar Nearby for Lease

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      21,500 SF

      Retail Spaces in Candy Park

      Prime commercial spaces available in high-traffic Morgan Hill shopping center.
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      Retail space with highway frontage and development opportunities in Morgan Hill.
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      Retail Endcap Opportunity Available

      Retail space available at Monterey and Cochrane Road.
      18585 Monterey Rd, Morgan Hill, CA 95037
      View Details
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      5,000 SF

      Retail Space Near Highway 101

      Retail space available in Cochrane Commons near Highway 101.
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    • $2 SF/Yr
      2,450 SF

      Retail Space in Morgan Hill

      Thriving shopping center space for lease in Morgan Hill, CA.
      15790 Monterey Rd, Morgan Hill, CA 95037
      View Details
    • Contact for pricing
      2,020 SF

      Retail Space in Morgan Hill

      Retail space available for lease in Morgan Hill, CA.
      17043 Condit Rd, Morgan Hill, CA 95037
      View Details

    Property Visit Statistics

    • Visits by month
      2.3k
    • Visitors by month
      1.8k
    • Avg Time on site
      10 min
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    Morgan Hill, CA 95037-7229
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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