Milpitas Office Building Investment Opportunity

Corning Avenue, Milpitas, CA 95035

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For Sale

$3,995,000

Two-story office building with value-add potential in Milpitas.

Type:Commercial

Property size:

20,939 SF

Lot size:

0.68 Acres

Price / SF:

$190/SF

HighLights

Immediate value‑add potential through lease conversions and rent adjustments.
Prime location near major transportation and retail centers.
20,939 SF two‑story office building on corner lot.
High 89% occupancy rate.
Diverse tenant mix across 32 suites.
Gross Scheduled Income: $34,717/month.

We can help!

Listing Contact

MELINDA COLLINS

Learn more

For Sale

$3,995,000

Two-story office building with value-add potential in Milpitas.

Type:Commercial

Property size:

20,939 SF

Lot size:

0.68 Acres

Price / SF:

$190/SF

Added:: Apr 22, 2025
Days on Market:: 419
Last Refresh:: Apr 5 at 8:55 pm

Property Features for Corning Avenue

General Information

Standard status: Active
Size: 20,939 SF
Lot size: 0.68 Acres
Property subtype: Commercial

Building Details

Year Built: 1978

We can help!

Listing Contact

MELINDA COLLINS

Listing agent MELINDA COLLINS License #01178494,PersonLicenseNumber

Listing office NEXTHOME AXIS REALTY

Listing date Apr 22, 2025

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of NEXTHOME AXIS REALTY

HighLights

Immediate value‑add potential through lease conversions and rent adjustments.
Prime location near major transportation and retail centers.
20,939 SF two‑story office building on corner lot.
High 89% occupancy rate.
Diverse tenant mix across 32 suites.
Gross Scheduled Income: $34,717/month.

Overview

This two-story office building, totaling 20,939 square feet, presents an investment or owner-user opportunity in Milpitas. The property is located on a prominent corner lot and features 32 suites. The current occupancy rate is 89%, with a diverse tenant mix of professionals and small businesses. The gross scheduled income is $34,717 per month, or $416,606 annually. There is immediate value-add potential through converting lease terms from Gross to NNN and adjusting rents to market rates. The property has ample on-site parking. It is located near I-880, I-680, BART, VTA, and major retail centers, including the Great Mall. Opportunities exist to upgrade the HVAC and electrical systems, improve water efficiency to reduce operating costs, and implement green building features. Vacant spaces can be leased, and underperforming suites can be repositioned at market rates. This property is suitable for investors seeking asset appreciation or owner-users looking to secure premium office space.

Location Intelligence

Current Use by Public Records

Office buildings

Map

City: Milpitas
County: Santa Clara
State: California
Longitude: -121.906
Latitude: 37.4245

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For sale
Office buildings
CA
Milpitas
95035
Corning Avenue

What type of property is this?

Office building - Two-story office building with value-add potential in Milpitas.

Where is this office building located?

The property is located at Corning Avenue Milpitas, CA.

What is the asking price?

The asking price for this property is $3,995,000.

What are key features of this property?

This property features: Immediate value‑add potential through lease conversions and rent adjustments.; Prime location near major transportation and retail centers.; **20,939 SF two‑story office building** on corner lot.