Milpitas Mixed-Use Development
27 Main Street, Milpitas, CA 95035
0.34 acre mixed-use development land in rapidly growing Milpitas.
Type:Land or Vacant Lot
Property size:
15,000 SFLot size:
0.34 AcresPrice / SF:
$200/SF- Added:
- Sep 25, 2025
- Days on Market:
- 251
- Last Refresh:
- Apr 5 at 9:30 pm
Property Features for 27 Main Street
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Lot size
- 0.34 Acres
- Property subtype
- Land or Vacant Lot
Listing agent FRANK LIU License #991680
Listing office ALLIANCE BAY REALTY (510) 742-6600
Listing date Sep 25, 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 ALLIANCE BAY REALTY
HighLights
- Development potential for a seven‑story mixed‑use building with approximately 75,000 sqft total building floor area.
- Zoned for mixed‑use development, allowing for residential and commercial units.
- Prime location in Milpitas, a rapidly growing region near Silicon Valley.
- Potential to construct 48 condo units (combination of one, two, and three bedroom) and 1062 sqft of commercial space.
- Land area of 0.34 acres (15,000 sqft) primed for development.
- Conveniently located near public transportation, shopping, and entertainment.
Overview
This 0.34-acre property, totaling 15,000 square feet, is zoned for mixed-use development. Located in Milpitas, it is suitable for constructing a seven-story building with approximately 75,000 square feet of total building floor area. The site can accommodate a design featuring a combination of 48 one, two, and three-bedroom condominium units, along with 1,062 square feet of commercial unit area, and an underground garage. The location is in a rapidly growing region near Silicon Valley, offering a development opportunity to capitalize on the increasing demand for mixed-use properties. The property's proximity to public transportation, shopping, and entertainment enhances its appeal for both businesses and residents.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $450.0k | $30.00 |
| − Vacancy | −$36.0k | −$2.40 |
| EGI | $414.0k | $27.60 |
| − OpEx | −$155.3k | −$10.35 |
| NOI | $258.8k | $17.25 |
15,000 SF · lease $30.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$3.70M
$3.23M – $4.31M
NOI $258,750 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.06M
$7.92M – $10.57M
NOI $633,901 @ 7.0% cap · market cap 21.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Milpitas
- County
- Santa Clara
- State
- California
- Longitude
- -121.907
- Latitude
- 37.4302
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - 0.34 acre mixed-use development land in rapidly growing Milpitas.
Where is this commercial land located?
The property is located at 27 Main Street Milpitas, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Development potential for a seven‑story mixed‑use building with approximately 75,000 sqft total building floor area.; Zoned for mixed‑use development, allowing for residential and commercial units.; Prime location in Milpitas, a rapidly growing region near Silicon Valley.
