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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Warehouses
199 Mast St, Morgan Hill, CA 95037-5112
Individually Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-2961478
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2013
Total area
3,000 SF
Lot
2.94 ac (128,066 SF)
Zoning code
MG
APN
817-02-064
UPID
US10-2961478
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$935k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$930k
Owner & transaction history
Gerald R Blatt · 11 yrs held
Gerald R Blatt
since 2015
5 recorded transactions
Zoning & alternative use
MG · Morgan Hill, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+39.9%
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%
$1,015,000
6.5%
$935,000
7%
$870,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,065,000
Current use
RETAIL STORES
$1,490,000
Change: +40% · Conversion: Moderate
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±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
$310 / 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
$18,091
Tax year 2024
Assessed value
$1,525,867
Assessed 2024
Previous assessed
$1,525,867
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,272,542
Assessed improvement
$253,325
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2013
Heating
NONE
Stories
1
Units
1
Total area
3,000 SF
Lot
2.94 ac (128,066 SF)
Zoning code
MG
APN
817-02-064
UPID
US10-2961478
Jurisdiction
SANTA CLARA
Zoning & alternative use
MG · Morgan Hill, CA
Zoning MG · permitted uses
MG · 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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
2013
Heating
NONE
Stories
1
Units
1
Lot
2.94 ac
Current owner
From public records · entity-resolved
Gerald R Blatt
Individual
Free & Clear · 11 yrs held
Mailing address
1404 S 7TH ST, SAN JOSE, CA 95112-5927
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
May 26, 2015
$1,295,000
Gerald R Blatt
Goularte Family Trust
Grant Deed
—
Dec 20, 2012
—
Goularte Family Trust
Goularte Family Trust
Quit Claim Deed
related
—
Sep 27, 2012
—
Goularte Anthony E Tr
Goularte,ida M
Affidavit Of Death
related
—
Sep 16, 2005
$910,000
Goularte Anthony E & Ida M Tr
Armand Agra INC
Grant Deed
—
—
—
Goularte Anthony E & Ida M Tr
—
Deed Of Trust
related
$400,000 · Morgan Hill Redevelopment Agcy
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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