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Property profile & analytics
OFF-MARKET
Estimated value
$1,415,000
Office buildings
66 1st St Gilroy, CA 95020-5140
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2735012
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
WOOD
Total area
4,984 SF
Lot
0.24 ac (10,454 SF)
Zoning code
C3
APN
799-01-053
UPID
US09-2735012
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
-
Calimex Auto Insurance Services Insurance Agency
-
Doreen Diego, MA., LMFT Physician
-
Informed Choices Medical Clinic
-
R&J Motors Car Dealership
-
Storietv Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$1.42M
Owner & transaction history
849 Kearny Street LLC · 3 yrs held
849 Kearny Street LLC
since 2022
7 recorded transactions
Zoning & alternative use
C3 · Gilroy, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C3 SHOPPING CENTER COMMERCIAL DISTRICT § 30.15.10 Statement of intent. § 30.15.20 Permitted uses and conditional uses. § 30.15.30 Site and building requirements. § 30.15.10 Statement of intent. The intent of the C3 shopping center commercial district is to provide areas in the city suitable for commercial uses of a high intensity and of a city-wide or region…
Zone name
Shopping Center Commercial
General category
COMMERCIAL
Zone area
382.40 ac
Top alternative use upside
Warehouse, storage
$1.8M
+27.4%
Retail stores
$1.6M
+12.7%
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 Gilroy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gilroy 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,390,000
Current use
WAREHOUSE, STORAGE
$1,770,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$1,570,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$1.42M
Range $1.27M – $1.56M · ±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
$284 / 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
$13,758
Tax year 2024
Assessed value
$1,102,321
Assessed 2024
Previous assessed
$1,102,321
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$238,175
Assessed improvement
$864,146
Applied tax rate
2.0000
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
1986
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
2
Units
4
Total area
4,984 SF
Lot
0.24 ac (10,454 SF)
Zoning code
C3
APN
799-01-053
UPID
US09-2735012
Jurisdiction
SANTA CLARA
Zoning & alternative use
C3 · Gilroy, CAZoning C3 · permitted uses
C3 · Gilroy, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C3 SHOPPING CENTER COMMERCIAL DISTRICT § 30.15.10 Statement of intent. § 30.15.20 Permitted uses and conditional uses. § 30.15.30 Site and building requirements. § 30.15.10 Statement of intent. The intent of the C3 shopping center commercial district is to provide areas in the city suitable for commercial uses of a high intensity and of a city-wide or regional character. Businesses in the C3 shopping center commercial district should be restricted to those which cater to residents of the entire city and its surrounding region. Ample landscaping, large setbacks, ample parking and creative design are encouraged in the C3 shopping center commercial district. The following regulations, except to the extent that they may be modified by a combining district, shall apply to every lot and building in a C3 shopping center commercial district. ( Ord. No. 2013-08 , § 2 (Exh. A), 8-5-2013 )
Zone name
Shopping Center Commercial
General category
COMMERCIAL
Zone area
382.40 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.8M
RETAIL STORES
Est. value
$1.6M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1986
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
4
Lot
0.24 ac
Current owner
From public records · entity-resolved
849 Kearny Street LLC
Entity
Mailing address
7570 KENTWOOD CT, GILROY, CA 95020-4741
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
—
Kay M Carlson
—
Deed
related
$150,000 · Stephen A Toste Living Trust
Nov 23, 2022
$2,251,500
849 Kearny Street LLC
Akw Limited Partnership
Grant Deed
$1,000,000 · Cathay Bank
Jan 4, 2008
—
Carlson Wayne G Trust
Carlson Family Trust
Quit Claim Deed
related
—
Jun 7, 1988
—
Carlson Trust
Carlson Wayne G
Quit Claim Deed
related
—
—
—
Carlson Trust
—
Deed Of Trust
related
$350,000 · Heritage Bank Of Commerce
—
—
Carlson,wayne G Trust
—
Deed Of Trust
related
$150,000 · Donald C Christopher
—
—
Carlson Wayne G Trust
—
Deed Of Trust
related
$300,000 · Donald C Christopher
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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