15335 Monterey Rd

CT zoned, would have sold to a developer if I had adequate time, but I don't feel free to purchase and then sell to a developer, an attractive wholesale deal with 35% plus discount on the value of the property. The General Plan designates the Monterey corridor for Mixed‑Use Flex (MU‑F) — allowing retail, office, residential (up to 35–55 units/acre).

Morgan Hill’s 2025 Commercial Land Report notes new multifamily units renting between $2,900–$3,600 per month (1–2 BR) and commercial rents around $2.50–$3.00 / SF gross near the downtown transit district.

Construction‑ready parcels with infrastructure/utilities in place are trading at a 10–15 % premium over raw land.
💰 Estimated Value Range (Q1 2026)

Given:

8.02 ac ready‑to‑build,
Mixed‑Use zoning (high versatility),
Location along a major commercial/retail artery,
Recent comps averaging ≈ $1.1 M–$1.4 M per acre,
 

The fair market range is:

🟩 Low Estimate:  $8.8 M (≈ $1.1 M/ac)
🟨 Likely Range:  $9.6 – $11.2 M (≈ $1.2 – $1.4 M/ac)
🟦 High‑End (prime mixed‑use pad):  $12 – $13 M (≈ $1.5 – $1.6 M/ac)**

Developers targeting mixed‑use or multifamily (≈ 250 – 300 units possible, subject to city density limits) would value it near the top end. I am taking offers from everyone interested.
 

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