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100% Leased Multi-Tenant Shopping Center

128 Ranch Drive, Milpitas, CA 95035

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For Sale

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Acquired as a fully occupied retail center with a fitness, restaurant, and medical tenant mix near major freeway access.

Type:Retail

Property size:

84,735 SF

Price / SF:

$299/SF

HighLights

McCarthy Ranch Shopping Center is a 100% leased, multi‑tenant retail center with 84,735 SF.
Anchored by PICKLR and includes fitness, restaurant, and medical tenants such as Planet Fitness, HL Peninsula Restaurant, and Gentle Dental.
Located in Milpitas, CA near the intersection of I‑880 and Highway 237 within the McCarthy Ranch retail corridor.
Surrounding retail hub totals over 400,000 SF of high‑traffic retail.
Weighted average lease term (WALT) is approximately 7.7 years with contractual rent increases.
100% occupancy supported by long‑term leases for a stable, in‑place income stream.

We can help!

Listing Contact

Don LeBuhn

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For Sale

Contact for pricing

Acquired as a fully occupied retail center with a fitness, restaurant, and medical tenant mix near major freeway access.

Type:Retail

Property size:

84,735 SF

Price / SF:

$299/SF

Added:: Jun 16, 2026
Days on Market:: 8
Last Refresh:: Jun 20 at 3:38 am

Property Features for 128 Ranch Drive

General Information

Standard status: Active
Size: 84,735 SF
Property subtype: Retail

Building Details

Year Built: 1996

We can help!

Listing Contact

Don LeBuhn

Listing agent Don LeBuhn License #CA 01821805

Listing office Cushman & Wakefield - San Francisco, California

Listing date Jun 16, 2026

Source Crexi

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 Cushman & Wakefield - San Francisco, California

HighLights

McCarthy Ranch Shopping Center is a 100% leased, multi‑tenant retail center with 84,735 SF.
Anchored by PICKLR and includes fitness, restaurant, and medical tenants such as Planet Fitness, HL Peninsula Restaurant, and Gentle Dental.
Located in Milpitas, CA near the intersection of I‑880 and Highway 237 within the McCarthy Ranch retail corridor.
Surrounding retail hub totals over 400,000 SF of high‑traffic retail.
Weighted average lease term (WALT) is approximately 7.7 years with contractual rent increases.
100% occupancy supported by long‑term leases for a stable, in‑place income stream.

Overview

McCarthy Ranch Shopping Center is a 100% leased, 84,735-square-foot multi-tenant retail property configured to serve a mix of fitness, dining, and healthcare uses. The tenant roster includes PICKLR, Planet Fitness, HL Peninsula Restaurant, and Gentle Dental. The center is offered with in-place leases and is supported by long-term lease terms, including a weighted average lease term (WALT) of approximately 7.7 years and contractual rent increases.

The property is located in Milpitas, California, within the McCarthy Ranch retail corridor just off the intersection of Interstate 880 and Highway 237. It also benefits from its position inside a dominant retail hub comprising more than 400,000 square feet of surrounding high-traffic retail.

For buyers and investors, the shopping center provides an opportunity to acquire a fully occupied, diversified neighborhood retail asset anchored by fitness and experience-driven concepts, complemented by restaurant and medical tenants. With all space leased and long-term lease rollover considerations reflected in the reported WALT, the property can be evaluated as a stabilized income-producing retail acquisition within a well-established corridor.

Location Intelligence

Current Use by Public Records

Shopping centers

Suggested Use

Similar Places Nearby

Calaveras Plaza Shopping Center — 231 W Calaveras Blvd, Milpitas, CA 95035
Abel Plaza — S Abel St, Milpitas, CA 95035
Milpitas Center — 20 S Abbott Ave, Milpitas, CA 95035
Quick-Tag — Walmart Supercenter, 301 Ranch Dr, Milpitas, CA 95035
McCarthy Ranch Marketplace — Ranch Dr, Milpitas, CA 95035

Location Insight

Map
Local Demand

City: Milpitas
County: Santa Clara
State: California
Longitude: -121.9195606
Latitude: 37.4264531

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For sale
Shopping centers
CA
Milpitas
95035
128 Ranch Drive

What type of property is this?

Shopping center - Acquired as a fully occupied retail center with a fitness, restaurant, and medical tenant mix near major freeway access.

Where is this shopping center located?

The property is located at 128 Ranch Drive Milpitas, CA.

What is the asking price?

The asking price for this property is $25,340,000.

What are key features of this property?

This property features: McCarthy Ranch Shopping Center is a 100% leased, multi‑tenant retail center with 84,735 SF.; Anchored by PICKLR and includes fitness, restaurant, and medical tenants such as Planet Fitness, HL Peninsula Restaurant, and Gentle Dental.; Located in Milpitas, CA near the intersection of I‑880 and Highway 237 within the McCarthy Ranch retail corridor.