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8955 Monterey Rd 2.05 Acres of Commercial Land Offered at $3,995,000 in Gilroy, CA 95020
INVESTMENT HIGHLIGHTS
- Large 2.05 Acre Site
- R4 Zoning (High Density Residential)
- Redevelopment Opportunity
- Income Potential - Four Commerical/Warehouse Buildings
EXECUTIVE SUMMARY
Fantastic opportunity to acquire a large 2.05 acres site with over 260 feet of linear frontage on Monterey Road within the city of Gilroy. The site has been upzoned to R4 (High Density Residential) with the ability to develop 20 residential units to the acre. The property is currently vacant but benefits from usable structures on-site which include a 4,550 square foot warehouse, 5,000 square foot commercial building (previously used as a church), 1,408 square foot showroom/office building, and 700 square foot garage. These buildings present an opportunity for income.
PROPERTY FACTS
| Price | $3,995,000 | Property Type | Land |
| Sale Type | Investment or Owner User | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | Single Family Development |
| No. Lots | 1 | Total Lot Size | 2.05 AC |
| Zoning | R4 - High Density Residential | ||
| Price | $3,995,000 |
| Sale Type | Investment or Owner User |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Single Family Development |
| Total Lot Size | 2.05 AC |
| Zoning | R4 - High Density Residential |
1 LOT AVAILABLE
Lot
| Price | $3,995,000 | Lot Size | 2.05 AC |
| Price Per AC | $1,952,781.31 |
| Price | $3,995,000 |
| Price Per AC | $1,952,781.31 |
| Lot Size | 2.05 AC |
Flat 2.05 acres with over 260 linear feet of frontage on Monterey Road.
DESCRIPTION
Buildings are of various ages, but are in usable condition and present an opportunity either an owner user, or investor to lease them. Low building to land ratio of approximately 12.5% with an undeveloped large lot to the rear.
PROPERTY TAXES
| Parcel Number | 790-14-025 | Improvements Assessment | $0 |
| Land Assessment | $2,781,920 | Total Assessment | $2,781,920 |
PROPERTY TAXES
Parcel Number
790-14-025
Land Assessment
$2,781,920
Improvements Assessment
$0
Total Assessment
$2,781,920
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8955 Monterey Rd
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