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Property profile & analytics
OFF-MARKET
Estimated value
$905,000
Retail space
7423 Monterey St Gilroy, CA 95020-5823
Entity Owned
3-yr Hold
Free & Clear
Property ID
US09-0670898
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1912
Construction
TILT-UP CONCRETE
Total area
2,964 SF
Lot
0.08 ac (3,400 SF)
Zoning code
C2
APN
799-07-062
UPID
US09-0670898
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
$1.23M
Comparable Approach
Comparable
$590k
Blend (final)
Blend
$905k
Owner & transaction history
7423 Monterey LLC · 3 yrs held
7423 Monterey LLC
since 2022
5 recorded transactions
Zoning & alternative use
C2 · Gilroy, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.1M
+13.0%
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%
$1,335,000
6.5%
$1,230,000
7%
$1,145,000
Alternative Use
Use
Estimation
RETAIL STORES
$930,000
Current use
WAREHOUSE, STORAGE
$1,055,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$825,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$905k
Range $815k – $996k · ±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
$305 / 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
$17,014
Tax year 2024
Assessed value
$1,374,450
Assessed 2024
Previous assessed
$1,374,450
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$204,000
Assessed improvement
$1,170,450
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1912
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
2,964 SF
Lot
0.08 ac (3,400 SF)
Zoning code
C2
APN
799-07-062
UPID
US09-0670898
Jurisdiction
SANTA CLARA
Zoning & alternative use
C2 · Gilroy, CA
Zoning C2 · permitted uses
C2 · Gilroy, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gilroy. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$930,000
WAREHOUSE, STORAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$825,000
RETAIL STORES Current
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1912
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
7423 Monterey LLC
Entity
Free & Clear · 3 yrs held
Mailing address
7423 MONTEREY ST, GILROY, CA 95020-5823
Mailing matches property
Yes
Owner-occupied
Yes
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
Oct 31, 2022
—
7423 Monterey LLC
Kellen Mcbain
Grant Deed
—
Mar 19, 2019
—
Kellen Mcbain
Mcbain 2005 Fam L/tr
Quit Claim Deed
related
—
Mar 28, 2005
—
Mcbain 2005 Trust
Mcbain,scott A & Tani L
Quit Claim Deed
related
—
May 25, 2000
$250,000
Scott A Mcbain
Garcia,jesus R
Grant Deed
$162,500 · Seller
Jul 11, 1994
—
Jesus R Garcia
Garcia,grace L
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.
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