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    Property profile & analytics

    17085 Condit Rd Morgan Hill, CA 95037-3301

    • Retail space
    • 31,865 SF
    • 9.24 lot acres
    OFF-MARKET
    Last Sale
    Feb 10, 2021
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5364759
    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

    • Morgan Hill Chrysler Dodge Jeep RAM Service Department / Auto Repair Shop
    • Morgan Hill Chrysler Dodge Jeep Ram Parts Department / Auto Parts Market / Auto Tune Up Service
    • My Truck Now / Auto Parts Store / Car Dealer
    • Morgan Hill Chrysler Dodge Jeep Ram / Car Dealer / Auto Parts Store

    Property Details for 17085 Condit Rd

    Year built
    2023
    Lot size
    9.24 lot acres
    Property size
    31,865 SF
    Zone code
    PUD
    Property type
    Retail space
    APN
    728-17-035
    APU
    72817035

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $680,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgan Hill
    County
    Santa Clara
    State
    California
    Longitude
    -121.634
    Latitude
    37.1359
    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
    $225,938
    $7,902,136
    $11,480,000
    $19,382,136
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $310,000
      5.92 Acres

      Morgan Hill, CA 95037

      RETAIL STORES (PERSONAL SERVICES) • 5.92 Acres
      Morgan Hill, CA 95037
      View Details
    • Value Estimation
      $390,000
      6,395 SF

      18599 Sutter Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,395 SF
      18599 Sutter Blvd, Morgan Hill, CA 95037-2817
      View Details
    • Value Estimation
      $1,310,000
      64,818 SF

      18620 Madrone Pkwypy

      RETAIL STORES (PERSONAL SERVICES) • 64,818 SF
      18620 Madrone Pkwypy, Morgan Hill, CA 95037-2837
      View Details
    • Value Estimation
      $1,075,000
      49,493 SF

      18610 Madrone Pkwypy

      RETAIL STORES (PERSONAL SERVICES) • 49,493 SF
      18610 Madrone Pkwypy, Morgan Hill, CA 95037-2837
      View Details
    • Value Estimation
      $330,000
      6,831 SF

      84 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 6,831 SF
      84 2nd St, Morgan Hill, CA 95037-4504
      View Details
    • Value Estimation
      $780,000
      41,413 SF

      16525 Condit Rd

      RETAIL STORES (PERSONAL SERVICES) • 41,413 SF
      16525 Condit Rd, Morgan Hill, CA 95037-9533
      View Details

    Similar Nearby for Sale

    • $1,395,000
      3,565 SF

      Retail Building with High Visibility

      Commercial building in excellent location with parking.
      16270 Monterey Rd, Morgan Hill, CA 95037
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    • $250,000

      Retail Opportunity on Monterey Highway

      Retail property for sale on Monterey Hwy, Morgan Hill.
      16915 Monterey Hwy, Morgan Hill, CA 95037
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    • $8,826,000
      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
    • $2,650,000
      6,450 SF

      Mixed-Use Commercial Property For Sale

      Mixed-use property with established tenants and value-add potential.
      16795 Monterey Rd, Morgan Hill, CA 95037
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    • $1,195,000
      2,720 SF

      Automotive Property For Sale

      Automotive property featuring three grade level doors, leased until 2025.
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    • $1,600,000
      1.45 Acres

      240 Vineyard Ct

      Land • 1.45 Acres
      240 Vineyard Ct, Morgan Hill, CA 95037
      View Details

    Similar Nearby for Lease

    • $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
      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
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      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
    • 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
    • Contact for pricing
      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
      View Details
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    17085 Condit Rd
    Morgan Hill, CA 95037-3301
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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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