New search
Property profile & analytics
FOR LEASE
Industrial properties
235 Vineyard Ct Morgan Hill, CA 95037
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1885840
For Lease
1 / 2
$4,525,000
235 Vineyard Ct, Morgan Hill, CA 95037
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1998
Construction
TILT-UP CONCRETE
Total area
15,360 SF
Lot
1.09 ac (47,480 SF)
Zoning code
ML
APN
817-05-055
UPID
US09-1885840
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
-
Tanaka Kikinzoku International General Contractor
-
PACON | A+J Machining Industrial Manufacturer Production Facility
-
Eeja America Inc Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.51M
CAP Approach
CAP
$3.95M
Comparable Approach
Comparable
$5.02M
Blend (final)
Blend
$4.53M
Owner & transaction history
Pacon Mfg INC · 3 yrs held
Pacon Mfg INC
since 2022
Last sale
$4.6M
5 recorded transactions
Zoning & alternative use
ML · Morgan Hill, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.4M
+70.6%
Warehouse, storage
$5.5M
+45.1%
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
$4,385,000
ML approach
$4,505,000
CAP Approach
CAP Return
Estimation
6%
$4,275,000
6.5%
$3,945,000
7%
$3,665,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,765,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,420,000
Change: +71% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,460,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$4.53M
Range $4.07M – $4.98M · ±10% · vs last sale $4.60M (Jan 6 2022)
Last sale anchor
$4.60M
Jan 6 2022
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
$295 / 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
$55,156
Tax year 2024
Assessed value
$4,785,840
Assessed 2024
Previous assessed
$4,785,840
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$884,340
Assessed improvement
$3,901,500
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1998
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
15,360 SF
Lot
1.09 ac (47,480 SF)
Zoning code
ML
APN
817-05-055
UPID
US09-1885840
Jurisdiction
SANTA CLARA
Zoning & alternative use
ML · Morgan Hill, CA
Zoning ML · permitted uses
ML · 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
INDUSTRIAL (GENERAL) Current
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.4M
WAREHOUSE, STORAGE
Est. value
$5.5M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1998
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.09 ac
Current owner
From public records · entity-resolved
Pacon Mfg INC
Entity
Mailing address
P #400034, LAS VEGAS, NV 89140
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Sep 30, 2022
—
Pacon Mfg INC
Qxp 2 LLC
Lease
$1,705,000 · The Mortgage Capital Development Corp
Jan 6, 2022
$4,600,000
Qxp2 LLC
Gazipura Gu
Grant Deed
$2,920,500 · Mufg Union Bank NA
Aug 30, 2016
—
Gazipura,gul & Vanessa Trust
Gazipura Gul & V Trust
Quit Claim Deed
related
—
Jun 8, 2001
—
Gazipura Trust
Gazipura,gul & Vanessa
Quit Claim Deed
related
—
May 22, 2001
—
Gul Gazipura
Gazipura,gul & Vanessa
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
