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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Office buildings
45 1st St Morgan Hill, CA 95037-4501
Trust Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-2367901
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1956
Construction
WOOD
Total area
912 SF
Lot
0.13 ac (5,600 SF)
Zoning code
CC
APN
767-07-016
UPID
US09-2367901
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
$850k
CAP Approach
CAP
$525k
Comparable Approach
Comparable
$880k
Blend (final)
Blend
$755k
Owner & transaction history
Borello,s & J 2007 Fam Trust · 5 yrs held
Borello,s & J 2007 Fam Trust
since 2020
Last sale
$695,500
7 recorded transactions
Zoning & alternative use
CC · Morgan Hill, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$935,000
+73.1%
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
$875,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$570,000
6.5%
$525,000
7%
$490,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$540,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$935,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$455,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $696k (Nov 10 2020)
Last sale anchor
$696k
Nov 10 2020
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
$828 / 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
$9,166
Tax year 2024
Assessed value
$737,539
Assessed 2024
Previous assessed
$737,539
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$583,664
Assessed improvement
$153,875
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1956
Construction
WOOD
Heating
NONE
Stories
1
Rooms
5
Bathrooms
1
Total area
912 SF
Lot
0.13 ac (5,600 SF)
Zoning code
CC
APN
767-07-016
UPID
US09-2367901
Jurisdiction
SANTA CLARA
Zoning & alternative use
CC · Morgan Hill, CA
Zoning CC · permitted uses
CC · 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
OFFICE BUILDING Current
Est. value
$540,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$935,000
RETAIL STORES
Est. value
$455,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1956
Construction
WOOD
Heating
NONE
Stories
1
Rooms
5
Bathrooms
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Borello,s & J 2007 Fam Trust
Trust
Mailing address
PO BOX 2107, MORGAN HILL, CA 95038-2107
Ownership since
2020
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
Nov 10, 2020
$695,500
Borello,s & J 2007 Fam Trust
Silva 2012 Family Trust
Grant Deed
—
Jul 25, 2019
—
Sean Silva
—
Deed
related
$400,000 · Jpmorgan Chase Bank NA
Jun 1, 2017
—
Silva Family Trust 2012
—
Deed
related
$325,310 · Citizens Equity First Cu
Aug 2, 2016
$490,000
Sean Silva
Robert B Mitchell
Grant Deed
$318,500 · Herzer Financial Services INC
Apr 26, 2011
—
Robert B Mitchell
Robert B Mitchell
Intrafamily Transfer
related
—
Dec 21, 1988
$158,000
Robert& Mitchell
Tichinin,b. Trus
Grant Deed
$131,000 · South Valley Bank
—
—
Robert B Mitchell
—
Deed Of Trust
related
$112,628 · South Valley National Bank
—
—
Silva Family Trust 2012
—
Deed Of Trust
related
$325,310 · Citizens Equity First Cu
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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