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    Property profile & analytics

    40 Dunne Ave Morgan Hill, CA 95037-8405

    • Apartment buildings
    • 17,126 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $4,635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-3302714
    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

    • Tobiano at Orchard Ranch / Corporate Office

    Property Details for 40 Dunne Ave

    Year built
    2018
    Construction
    WOOD
    Lot size
    0.55 lot acres
    Property size
    17,126 SF
    Zone code
    R1
    Property type
    Apartment buildings
    APN
    817-01-080
    APU
    81701080

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,425,000
      6.5%
      $5,010,000
      7%
      $4,650,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,160,000
      Current use
      WAREHOUSE, STORAGE
      $6,090,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Morgan Hill
    County
    Santa Clara
    State
    California
    Longitude
    -121.649
    Latitude
    37.1253
    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
    $806
    $824,922
    $5,562,064
    $6,386,986
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2.79 Acres

      16915 Del Monte Ave

      APARTMENT HOUSE (5+ UNITS) • 2.79 Acres
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    • Value Estimation
      $3,115,000
      16,734 SF

      260 Berry Ct

      APARTMENT HOUSE (5+ UNITS) • 16,734 SF
      260 Berry Ct, Morgan Hill, CA 95037-4240
      View Details
    • Value Estimation
      $3,600,000
      23,412 SF

      220 Berry Ct

      APARTMENT HOUSE (5+ UNITS) • 23,412 SF
      220 Berry Ct, Morgan Hill, CA 95037-4201
      View Details
    • Value Estimation
      $2,495,000
      15,737 SF

      18555 Butterfield Blvd

      APARTMENT HOUSE (5+ UNITS) • 15,737 SF
      18555 Butterfield Blvd, Morgan Hill, CA 95037-2848
      View Details
    • Value Estimation
      $6,955,000
      36,266 SF

      16875 Ciolino Ave

      APARTMENT HOUSE (5+ UNITS) • 36,266 SF
      16875 Ciolino Ave, Morgan Hill, CA 95037
      View Details
    • Value Estimation
      $9,015,000
      32,500 SF

      235 Dunne Ave

      APARTMENT HOUSE (5+ UNITS) • 32,500 SF
      235 Dunne Ave, Morgan Hill, CA 95037-4695
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Development Opportunity

      Mixed-use development with residential and commercial potential.
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      Mixed-Use Development Opportunity

      Mixed-use development with residential and commercial potential.
      18060 Monterey Rd, Morgan Hill, CA 95037
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      Spacious Mobile Home in 55+ Community

      Comfortable 2-bedroom mobile home in rent-controlled 55+ community.
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      Spacious Fourplex in Morgan Hill

      Fourplex with 3,172 sqft on a 13,700 sqft lot.
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      Spacious Fourplex in Morgan Hill

      Fourplex in Morgan Hill, perfect for generating income.
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    • $1,950,000
      3.79 Acres

      Morgan Hill Estate Land Opportunity

      3.79 Acres, Prime Residential Location
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    Similar Nearby for Lease

    • Contact for pricing
      1,725 SF

      Retail Endcap Opportunity Available

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      5,000 SF

      Retail Space Near Highway 101

      Retail space available in Cochrane Commons near Highway 101.
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      750 SF

      Neighborhood Shopping Center Retail Space

      Retail spaces available in a neighborhood shopping center.
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      82,446 SF

      Morgan Hill Industrial/Warehouse Space

      Industrial/warehouse space suitable for manufacturing and distribution.
      18215 Butterfield Blvd, Morgan Hill, CA 95037
      View Details
    • Contact for pricing
      122,101 SF

      Morgan Hill Distribution Warehouse Space

      122,101 SF warehouse with office space for lease.
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    • Contact for pricing

      Freestanding Office/R&D Building Available

      25,000 SF Class A office/R&D building in Morgan Hill.
      18635 Sutter Blvd, Morgan Hill, CA 95037
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    40 Dunne Ave
    Morgan Hill, CA 95037-8405
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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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