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3.2-AC Mixed-Use High Density Development Opp 16000-16060 Monterey Rd 9,900 SF Retail Building Morgan Hill, CA 95037 $19,542,881 CAD ($1,974.03 CAD/SF)
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- 16000-16060 Monterey Road presents approximately 3.2 acres of development space and commercial opportunity in the heart of Morgan Hill.
- With limitless potential, this site can accommodate mixed-use, medium- to high-density residential development.
- New owners can benefit from higher rents, renewed leases, and redevelopment options, as property values increase due to regional growth.
- Prominently at the signalized corner of Tennant Avenue and Monterey Road, where over 43,248 vehicles pass through daily.
- Surrounded by nearby retailers and entertainment, including CineLux Morgan Hill, Safeway, Bank of America, and Chipotle.
- Benefit from proximity to the heart of Silicon Valley, freeways, shopping, restaurants, and highly rated schools.
EXECUTIVE SUMMARY
16000-16060 Monterey Road presents a prime commercial investment opportunity, offering 3.2 acres of property in the heart of Morgan Hill, California. This includes a vacant Rite Aid on 2.119 acres and a strip center featuring O'Reilly Auto Parts and Salon Centric, situated on a 1.063-acre lot. With its potential for redevelopment, this site can accommodate mixed-use, medium- to high-density residential development in the heart of Morgan Hill.
The striking property boasts a prime corner position at the signalized intersection of Tennant Avenue, frequented by 21,816 vehicles daily, and Monterey Road, which is traveled by over 21,432 vehicles daily. It is located near Vineyard Town Center, anchored by Nob Hill Foods and T.J. Maxx, and is close to Tennant Station, which is home to Safeway, Fitness 19, Starbucks, and US Bank. 16000-16060 Monterey Road's convenient access to Highway 101 makes it easy for residents to travel around the San Francisco Bay Area and the Central Coast.
Morgan Hill, nestled at the southern tip of Silicon Valley, is a charming community known for its natural beauty, diverse landscapes, rich history, and welcoming atmosphere. The area boasts a population of over 117,557 within a 10-mile radius, with an average household income of $158,268, contributing to $1.67 billion in consumer spending. With its exceptional visibility, strategic location, and strong local demographics, 16000-16060 Monterey Road represents an outstanding investment opportunity in a thriving retail corridor.
The striking property boasts a prime corner position at the signalized intersection of Tennant Avenue, frequented by 21,816 vehicles daily, and Monterey Road, which is traveled by over 21,432 vehicles daily. It is located near Vineyard Town Center, anchored by Nob Hill Foods and T.J. Maxx, and is close to Tennant Station, which is home to Safeway, Fitness 19, Starbucks, and US Bank. 16000-16060 Monterey Road's convenient access to Highway 101 makes it easy for residents to travel around the San Francisco Bay Area and the Central Coast.
Morgan Hill, nestled at the southern tip of Silicon Valley, is a charming community known for its natural beauty, diverse landscapes, rich history, and welcoming atmosphere. The area boasts a population of over 117,557 within a 10-mile radius, with an average household income of $158,268, contributing to $1.67 billion in consumer spending. With its exceptional visibility, strategic location, and strong local demographics, 16000-16060 Monterey Road represents an outstanding investment opportunity in a thriving retail corridor.
MATTERPORT 3D TOUR
3D Exterior
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,900 SF
Building Class
B
Year Built
2001
Price
$19,542,881 CAD
Price Per SF
$1,974.03 CAD
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Lot Size
3.20 AC
Parking
50 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
119’ on Monterey St
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Monterey Tennant Assoc
- Public Administration
- -
- -
- -
-
- Retailer
- -
- -
- -
O’Reilly Automotive is a publicly traded automotive aftermarket parts retailer headquartered in Springfield, Missouri. Founded on December 2, 1957, by Charles F. O’Reilly and Charles H. “Chub” O’Reilly, the company began as a single store and has grown into one of the largest specialty retailers in its sector. O’Reilly serves both professional service providers and do-it-yourself customers through a dual-market strategy, offering parts, tools, and related services. The company operates more than 6,400 stores across the United States, Puerto Rico, Mexico, and Canada. O’Reilly Automotive trades on the NASDAQ under the ticker symbol ORLY and employs over 93,000 team members. Its growth has been driven by strategic acquisitions and a robust distribution network designed to ensure product availability and timely delivery.
-
- Retailer
- -
- -
- -
SalonCentric is a U.S.-based wholesale distributor of professional salon products headquartered in Saint Petersburg, Florida. Established in 2008 by L’Oréal USA, the company serves licensed beauty professionals with a wide range of haircare, color, styling tools, and salon equipment. Operating across 48 states, SalonCentric provides access to leading brands such as Redken, Pureology, Matrix, and Mizani. The company emphasizes education and business support for salon professionals through in-store classes and digital platforms. SalonCentric is a subsidiary of L’Oréal USA and is privately held. Over the years, it has expanded its footprint to retail locations and distribution centers nationwide. Notable initiatives include sustainability programs to reduce packaging waste and industry partnerships promoting diversity and inclusion.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Monterey Tennant Assoc | Public Administration | - | - | - | ||
|
|
Retailer | - | - | - | ||
|
|
Retailer | - | - | - |
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (79)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
12,051
42,779
53,793
63,905
2029 Population
11,526
40,958
51,314
64,805
2024-2029 Projected Population Growth
-4.4%
-4.3%
-4.6%
1.4%
Median Age
38.6
41.4
42.3
41.6
College Degree + Higher
39%
40%
41%
27%
Daytime Employees
6,898
19,090
21,329
27,447
Total Businesses
834
2,261
2,504
3,300
Average Household Income
$149,697
$170,051
$173,916
$181,614
Median Household Income
$120,899
$140,479
$143,391
$156,909
Total Consumer Spending
$168.5M
$658.9M
$840.7M
$948.7M
2024 Households
4,028
13,982
17,468
20,429
Average Home Value
$929,417
$927,547
$943,232
$955,498
$ values in USD
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Park Daegam Korean BBQ | Barbecue | $$ | 3 min walk |
| Starbucks | Cafe | $ | 4 min walk |
| The City Fish | Seafood | $$$$ | 3 min walk |
| Pita Pita | Mediterranean | $$$ | 3 min walk |
| MOOYAH Burgers, Fries & Shakes | Burgers | - | 4 min walk |
| Baskin-Robbins | - | - | 4 min walk |
| Jamba | - | - | 4 min walk |
| Poki Bowl | Seafood | $$ | 5 min walk |
| Starbucks | Cafe | $ | 6 min walk |
| Panda Express | - | - | 5 min walk |
RETAIL |
||
|---|---|---|
| SalonCentric | Health & Beauty Aids | In Building |
| T.J. Maxx | Other Retail | 5 min walk |
| Safeway | Supermarket | 6 min walk |
| Fitness 19 | Fitness | 7 min walk |
| CrossFit | Fitness | 10 min walk |
| Kiddie Academy | Daycare | 10 min walk |
| United States Postal Service | Business/Copy/Postal Services | 11 min walk |
| Ace Hardware | Hardware | 13 min walk |
HOTELS |
|
|---|---|
| Hampton by Hilton |
106 rooms
4 min drive
|
| Holiday Inn Express |
85 rooms
6 min drive
|
| Microtel Inn & Suites by Wyndham |
60 rooms
5 min drive
|
PROPERTY TAXES
| Parcel Number | 817-04-057 | Improvements Assessment | $3,519,613 CAD |
| Land Assessment | $2,015,766 CAD | Total Assessment | $5,535,379 CAD |
PROPERTY TAXES
Parcel Number
817-04-057
Land Assessment
$2,015,766 CAD
Improvements Assessment
$3,519,613 CAD
Total Assessment
$5,535,379 CAD
SALE ADVISORS
SALE ADVISORS
Dan Gluhaich, Realtor
Dan is a licensed agent with Intero Real Estate in California and with Colliers International in Nevada. He has successfully closed over 1200 escrows during his career, ranking in the top 5% of producers. Having partnered with investors in over 200 spec homes and subdivisions, Dan specializes in bringing together designers, city officials, lenders, and construction managers and guiding them through the development process. He also has extensive experience and success with triple net lease properties, 1031 exchanges, and commercial retail and office space. Born and raised in Gilroy, Dan resides in Morgan Hill with his wife and two sons. He actively supports church, school, and sports programs in the community. Dan graduated from California Poly, San Luis Obispo, in 1983.
Ralph Chellino, Realtor
Ralph has lived and sold real estate in South Santa Clara County for the past 43+ years and is a "Founding Member" of Intero. With more than one thousand local homes sold, and hundreds of happy clients, friends & family, Ralph has become a fiber in his community to the point that "locals" call him the ‘Mayor of Morgan Hill.’ He has proven to be a master of his profession, with negotiating prowess, and unmatched expertise. Ultimately providing every client with a smooth, seamless, and solid transaction. Elements that do not happen without a lifetime of experience.
Teressa, his daughter, and teammate is the Co-Founder and former Marketing Director of the Intero brand for 22+ years. She grew from the same dirt as our south county orchards, and now is raising her own family here as well. She is a marketing ace, a guru in her field, and is networked globally. Together as the Chellino Francis Group they are unrivaled.
So, if you are looking to get top dollar for your home or are a first-time home buyer looking to stretch every dollar, NO TEAM has the skills like the Chellino Francis Group. We promise to take care of you like family
Teressa, his daughter, and teammate is the Co-Founder and former Marketing Director of the Intero brand for 22+ years. She grew from the same dirt as our south county orchards, and now is raising her own family here as well. She is a marketing ace, a guru in her field, and is networked globally. Together as the Chellino Francis Group they are unrivaled.
So, if you are looking to get top dollar for your home or are a first-time home buyer looking to stretch every dollar, NO TEAM has the skills like the Chellino Francis Group. We promise to take care of you like family
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3.2-AC Mixed-Use High Density Development Opp | 16000-16060 Monterey Rd
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