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    17043 Condit Rd Morgan Hill, CA 95037
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    Property profile & analytics

    17043 Condit Rd, Morgan Hill, CA 95037

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    • Retail space
    • 58,035 SF
    • 2.60 lot acres
    For Lease
    $22,435,000
    View Listing →
    Retail Space in Morgan Hill For Lease
    $22,435,000
    2,020 SF

    Retail Space in Morgan Hill

    Retail space available for lease in Morgan Hill, CA.

    17043 Condit Rd, Morgan Hill, CA
    View Listing
    Property ID
    US09-4809711
    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.
    Value Estimations
    $22,435,000
    Cap Rate Potential
    7.6%
    Retail space
    Location Intelligence

    Current Use by 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

    Property Details for 17043 Condit Rd

    Year built
    2016
    Lot size
    2.60 lot acres
    Zone code
    PUDHC
    Property type
    Retail space
    APN
    728-17-027
    APU
    72817027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $20,650,000

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgan Hill
    County
    Santa Clara
    State
    California
    Longitude
    -121.632
    Latitude
    37.134
    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
    $233,434
    $5,302,918
    $15,166,632
    $20,469,550
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.21 Acres

      19260 Monterey St

      RETAIL STORES (PERSONAL SERVICES)
      19260 Monterey St, Morgan Hill, CA 95037-2704
      View Details
    • Value Estimation
      $11,670,000
      50,086 SF

      17035 Condit Rd

      RETAIL STORES (PERSONAL SERVICES)
      17035 Condit Rd, Morgan Hill, CA 95037-3301
      View Details
    • Value Estimation
      $3,740,000
      16,509 SF

      16105 Monterey St

      RETAIL STORES (PERSONAL SERVICES)
      16105 Monterey St, Morgan Hill, CA 95037-5401
      View Details
    • Value Estimation
      $615,000
      2,080 SF

      17290 Monterey St

      RETAIL STORES (PERSONAL SERVICES)
      17290 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
    • Value Estimation
      $1,595,000
      7,475 SF

      17945th Monterey Sta

      RETAIL STORES (PERSONAL SERVICES)
      17945th Monterey Sta, Morgan Hill, CA 95037-3616
      View Details

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      Mixed-Use Development Opportunity

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      22,065 SF

      Freestanding Showroom on 2.48 Acres

      22,065 SF showroom with service department on 2.48 AC.
      16175 Condit Rd, Morgan Hill, CA 95037
      View Details
    • Contact for pricing
      6,450 SF

      Mixed-Use Commercial Property For Sale

      Mixed-use property with established tenants and value-add potential.
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      Automotive Property For Sale

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    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail Space Near Highway 101

      Retail space available in Cochrane Commons near Highway 101.
      Cochrane Rd, Morgan Hill, CA 95037
      View Details
    • Contact for pricing
      1,725 SF

      Retail Endcap Opportunity Available

      Retail space available at Monterey and Cochrane Road.
      18585 Monterey Rd, Morgan Hill, CA 95037
      View Details
    • $2,550 /Mo
      21,500 SF

      Retail Spaces in Candy Park

      Prime commercial spaces available in high-traffic Morgan Hill shopping center.
      Monterey St, Morgan Hill, CA 95037
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      700 SF

      Remodeled Retail Space Available

      700 SF retail space with remodeled exterior.
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      1,800 SF

      Retail Space near Highway 101

      Retail space with highway frontage and development opportunities in Morgan Hill.
      1057 Cochrane Rd, Morgan Hill, CA 95037
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    • Contact for pricing
      2,200 SF

      Retail Space Near Highway 101

      Retail space with highway frontage and development opportunities in Morgan Hill.
      1041 Cochrane Rd, Morgan Hill, CA 95037
      View Details
    View Listing
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    Morgan Hill, CA 95037
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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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