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Property profile & analytics
OFF-MARKET
Estimated value
$8,750,000
Retail space
17045 Condit Rd Morgan Hill, CA 95037-3301
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US09-5185771
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Total area
26,400 SF
Lot
8.57 ac (373,309 SF)
Zoning code
PUDHC
APN
728-17-031
UPID
US09-5185771
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
-
The Ford Store Morgan Hill Parts Auto Parts Store
-
The Ford Store Morgan Hill Car Dealership Auto Repair Shop
-
The Ford Store Morgan Hill Service Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.97M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.75M
Owner & transaction history
Morgan Hill Land LLC · 12 yrs held
Morgan Hill Land LLC
since 2014
2 recorded transactions
Zoning & alternative use
PUDHC · 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%
$11,885,000
6.5%
$10,970,000
7%
$10,185,000
Alternative Use
Use
Estimation
RETAIL STORES
$13,130,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,035,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$8.75M
Range $7.88M – $9.63M · ±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
$331 / 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
$141,831
Tax year 2024
Assessed value
$11,986,868
Assessed 2024
Previous assessed
$11,986,868
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$6,687,127
Assessed improvement
$5,299,741
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
2004
Heating
NONE
Cooling
YES
Stories
2
Units
1
Total area
26,400 SF
Lot
8.57 ac (373,309 SF)
Zoning code
PUDHC
APN
728-17-031
UPID
US09-5185771
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
$13.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.0M
RETAIL STORES Current
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
2004
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
8.57 ac
Current owner
From public records · entity-resolved
Morgan Hill Land LLC
Entity
Mailing address
17045 CONDIT RD, MORGAN HILL, CA 95037-3301
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2014
—
Morgan Hill Land LLC
—
Deed Of Trust
related
$4,515,502 · Ford Motor Credit
—
—
Morgan Hill Land LLC
—
Loan Modification
related
$12,330,000 · Ford Motor Credit
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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