5680 Monterey RdGilroy, CA 95020

Property Details for 5680 Monterey Rd

Year built

1940

Construction

WOOD

Lot size

0.49 AC

Property size (Sq ft)

6,630 SF

Zone code

A140

Property type

Retail properties

Property subtype

Retail space

APN

841-14-028

APU

84114028

Description

This exceptional 6,630 square foot commercial property, situated on a 10-acre lot at 5680 Monterey Road in Gilroy, CA, boasts an unparalleled location with 195 feet of frontage directly visible from US Highway 101. An estimated 75,000 vehicles pass this high-visibility site daily, presenting a remarkable opportunity for a variety of commercial ventures. The property currently includes two single-family homes and a mixed-use building. The mixed-use building comprises two 3-bedroom, 1-bathroom apartments on the upper level and a substantial ground floor space previously configured as a restaurant and bar, complete with a kitchen, stage, and two restrooms. Additional structures on the property include several garages and a large metal/wood barn. The property's zoning is currently designated as Mixed Use Commercial (CM) or M1, with the City of Gilroy's 2040 plan indicating a future designation as City Gateway District (GD). Prior rental income generated approximately $7,000 per month. The property's proximity to the proposed Sharks Ice and Sports park further enhances its investment potential. This unique offering presents a compelling opportunity for redevelopment or continued operation as a mixed-use property, capitalizing on its prime location and high traffic count.

• CAP approach

  CAP return

  Valuation

  6%

  $2,918,561

  6.5%

  $2,694,056

  7%

  $2,501,624

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,659,916

  Geo Method

  $4,659,916

• Alternative Use

  Use

  Valuation

  Residential

  $2,272,537

  Hospitality

  $2,081,632

  Educational

  $1,731,893

  Medical

  $1,791,456

  Retail

  $2,694,056

Location Insight

City

Gilroy

County

Santa Clara

State

California

Latitude

36.9826

Longitude

-121.555

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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