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    Property profile & analytics

    7648 Monterey St Gilroy, CA 95020

    • Retail space
    • 6,768 SF
    • 0.19 lot acres
    For Sale
    View listing
    $999,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0674125
    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

    • Retail space

    Property Details for 7648 Monterey St

    Year built
    1920
    Construction
    TILT-UP CONCRETE
    Lot size
    0.19 lot acres
    Property size
    6,768 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    841-04-012
    APU
    84104012

    Description

    This exceptional 6,329 square foot free-standing commercial building, situated on a 0.17-acre lot at 7648 Monterey Street in Gilroy, California, is offered for sale at $999,000. Currently operating as a fitness and boxing gym, the property's adaptable layout presents a multitude of commercial and retail possibilities. The building boasts a recently updated showroom and flooring, along with modernized restrooms and dressing rooms, enhancing its appeal and functionality. Its robust construction features poured-in-place concrete walls and a metal roof supported by a wood-framed structure. The upstairs manager's lounge offers additional income potential, potentially as a rental apartment. The property benefits from a highly desirable location in downtown Gilroy, experiencing high foot traffic and convenient proximity to numerous amenities. The existing gym business and equipment are available for purchase, providing a turnkey opportunity for a new owner. This property presents a unique chance to establish or relocate a business in a thriving area, capitalizing on its strategic location and flexible design. The potential for future development further enhances its investment value. This is an exceptional opportunity to own a substantial commercial property in a dynamic and growing city.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $322,000
      Market price range: $266k - $1.35M

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilroy
    County
    Santa Clara
    State
    California
    Longitude
    -121.57
    Latitude
    37.0107
    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
    $7,099
    $223,101
    $340,232
    $563,333
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $450,000
      2,448 SF

      6975 Camino Arroyo

      RETAIL STORES (PERSONAL SERVICES) • 2,448 SF
      6975 Camino Arroyo, Gilroy, CA 95020-7078
      View Details
    • Value Estimation
      $405,000
      13,542 SF

      7100 Chestnut St

      RETAIL STORES (PERSONAL SERVICES) • 13,542 SF
      7100 Chestnut St, Gilroy, CA 95020-6684
      View Details
    • Value Estimation
      $340,000
      3,839 SF

      450 Leavesley Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,839 SF
      450 Leavesley Rd, Gilroy, CA 95020-3609
      View Details
    • Value Estimation
      $355,000
      4,248 SF

      395 Leavesley Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,248 SF
      395 Leavesley Rd, Gilroy, CA 95020-3606
      View Details
    • Value Estimation
      $245,000
      3,500 SF

      7529 Monterey St

      RETAIL STORES (PERSONAL SERVICES) • 3,500 SF
      7529 Monterey St, Gilroy, CA 95020-5825
      View Details
    • Value Estimation
      $790,000
      181,508 SF

      7151 Camino Arroyo

      RETAIL STORES (PERSONAL SERVICES) • 181,508 SF
      7151 Camino Arroyo, Gilroy, CA 95020-7308
      View Details

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    Similar Nearby for Lease

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      View Details
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    7648 Monterey St
    Gilroy, CA 95020
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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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