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Property profile & analytics
OFF-MARKET
Estimated value
$22,435,000
Retail space
17043 Condit Rd Morgan Hill, CA 95037-3301
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-4809711
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Total area
58,035 SF
Lot
2.6 ac (113,256 SF)
Zoning code
PUDHC
APN
728-17-027
UPID
US09-4809711
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
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
Blink Charging Station Electric Vehicle Charging Station
-
Tesla Destination Charger Electric Vehicle Charging Station
-
La Quinta Inn & Suites by Wyndham Morgan Hill-San Jose South Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.44M
Owner & transaction history
Billa Hospitality Mh LLC · 4 yrs held
Billa Hospitality Mh LLC
since 2022
Last sale
$22.5M
5 recorded transactions
Zoning & alternative use
PUDHC · Morgan Hill, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$34.5M
+19.4%
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
$20,650,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$26,125,000
6.5%
$24,115,000
7%
$22,395,000
Alternative Use
Use
Estimation
RETAIL STORES
$28,860,000
Current use
OFFICE BUILDING
$34,450,000
Change: +19% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$24,255,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$22.44M
Range $20.19M – $24.68M · ±10% · vs last sale $22.49M (Apr 8 2022)
Last sale anchor
$22.49M
Apr 8 2022
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
$387 / 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
$233,434
Tax year 2024
Assessed value
$20,469,550
Assessed 2024
Previous assessed
$20,469,550
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$5,302,918
Assessed improvement
$15,166,632
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
Off-Market
Year built
2016
Heating
NONE
Stories
4
Units
104
Total area
58,035 SF
Lot
2.6 ac (113,256 SF)
Zoning code
PUDHC
APN
728-17-027
UPID
US09-4809711
Jurisdiction
SANTA CLARA
Zoning & alternative use
PUDHC · Morgan Hill, CA
Zoning PUDHC · permitted uses
PUDHC · 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
RETAIL STORES Current
Est. value
$28.9M
OFFICE BUILDING
Est. value
$34.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.3M
RETAIL STORES Current
OFFICE BUILDING
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
2016
Heating
NONE
Stories
4
Units
104
Lot
2.6 ac
Current owner
From public records · entity-resolved
Billa Hospitality Mh LLC
Entity
Mailing address
3562 ROUND BARN CIR STE #220, SANTA ROSA, CA 95403-0183
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Apr 8, 2022
$22,488,000
Billa Hospitality Mh LLC
Morgan Hill Limited Partnership
Grant Deed
$14,625,000 · Five Star Bank
Sep 25, 2017
—
Morgan Hill LP
—
Deed
related
$9,000,000 · Bank Of America
May 19, 2015
—
Morgan Hill LP
—
Grant Deed
related
$7,700,000 · Interamerican Investments INC Interamerican Investments INC
Feb 26, 2015
$1,730,000
Morgan Hill LP
Horizon Land INC
Grant Deed
—
—
—
Morgan Hill LP
—
Deed Of Trust
related
$9,000,000 · 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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