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Property profile & analytics
OFF-MARKET
Parking lots & garages
17555 Condit Rd Morgan Hill, CA 95037-3208
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2472246
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1984
Total area
1,904 SF
Lot
8.82 ac (384,199 SF)
Zoning code
A-20A
APN
728-21-009
UPID
US09-2472246
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
-
Rancho Grande de Morgan Hill Ranch
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rancho Grande De Morgan Hill LLC · 1 yrs held
Rancho Grande De Morgan Hill LLC
since 2025
7 recorded transactions
Zoning & alternative use
A-20A · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$6,117
Tax year 2024
Assessed value
$519,449
Assessed 2024
Previous assessed
$519,449
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$137,687
Assessed improvement
$381,762
Applied tax rate
87.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1984
Heating
NONE
Stories
1
Rooms
9
Bathrooms
2
Total area
1,904 SF
Lot
8.82 ac (384,199 SF)
Zoning code
A-20A
APN
728-21-009
UPID
US09-2472246
Jurisdiction
SANTA CLARA
Zoning & alternative use
A-20A · Morgan Hill, CA
Zoning A-20A · permitted uses
A-20A · 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.
Building & site characteristics
From public records
Year built
1984
Heating
NONE
Stories
1
Rooms
9
Bathrooms
2
Lot
8.82 ac
Current owner
From public records · entity-resolved
Rancho Grande De Morgan Hill LLC
Entity
Mailing address
7640 FILICE DR, GILROY, CA 95020-5508
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2025
$3,400,000
Rancho Grande De Morgan Hill LLC
Los Hermanos Pena LLC
Grant Deed
$2,600,000 · Secured Income Fund-ii LLC
Feb 12, 2020
—
Los Hermanos Pena LLC
Pena S & D Family Trust
Quit Claim Deed
—
Dec 31, 2019
—
Pena,s & D Family Trust
Steven J Pena
Quit Claim Deed
related
—
Jan 11, 2019
—
Pena Family Trust
Pena,mary J
Affidavit Of Death
related
—
Jul 29, 2004
—
Pena,tr
Pena,tr
Quit Claim Deed
related
—
Dec 21, 2000
—
Pena Trust
Pena Trust
Quit Claim Deed
related
—
—
—
Pena,tr
—
Deed Of Trust
related
$150,000 · Wells Fargo Bank
—
—
Adolfo C Pena
—
Deed Of Trust
related
$100,000 · First Interstate Bank Californ
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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