Industrial Condominium Units For
For Sale
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521-547 Sinclair Frontage Rd, Milpitas, CA 95035
Two industrial condominium units totaling approximately 2,640 SF for sale.
Property Size2,640 SF
Price / SF$500
Days on Market116
Property Features for 521-547 Sinclair Frontage Rd
General Information
Standard status
Active
Size
2,640 SF
Property subtype
INDUSTRIAL
Listing Agency:
SVN | Capital West Partners
(510) 846-4649
Listed By:
Sean Dinh
Source:
Moodyscre
Added: Apr 30
Changed: Jul 10
Last Checked: Aug 22 at 2:08PM
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 SVN | Capital West Partners
Investment Insights
Based on property information with market context.
Two industrial condominium units are available for sale, totaling approximately 2,640 square feet. Each unit measures approximately 1,320 square feet. The property features a built-out office area with a drop ceiling. It includes two grade-level roll-up doors. The configuration allows for front and rear access, enhancing operational efficiency. The property is zoned M2 (Industrial). It offers excellent access to Interstate 680 and 880.
Key Highlights
- Excellent access to Interstate 680 and 880
- Two (2) industrial condominium units with ±2,640 SF total
- M2 zoning (industrial)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,064
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$881,280
$881.3K
Cap Rate 7%
$629,486
$629.5K
Cap Rate 9%
$489,600
$489.6K
Market Conditions
NOI Build-Up for 2,640 SF
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.
Gross rent
$68.1K $25.80/SF
− Vacancy
−$5.2K −$1.96/SF
EGI
$62.9K $23.84/SF
− OpEx
−$18.9K −$7.15/SF
NOI
$44.1K $16.69/SF
Area
Santa Clara County, CA
Vacancy
7.58%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$881,280
Cap Rate 7%
$629,486
Cap Rate 9%
$489,600
Alternative Uses
Best Use
Industrial
$629.5K
$550.8K – $734.4K
NOI $44,064 @ 7.0% cap · market cap 3.34%
Second Best
Flex RnD
$584.5K
$511.5K – $682.0K
NOI $40,917 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,567 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95035, CA
80,440
Population
25,851
Households
3.1
Avg Household Size
37
Median Age
59%
College-Educated
90%
High-School Grad
22.4 sq mi
ZIP Area
3,591
Density / Sq Mi
$176,723
Median Household Income
$81,070
Median Earnings
$3,110
Median Rent
$1,180,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two industrial condominium units totaling approximately 2,640 SF for sale.
Where is this flex space located?
The property is located at 521-547 Sinclair Frontage Rd Milpitas, CA.
What is the asking price?
The asking price for this property is $1,320,000.
What are key features of this property?
This property features: Excellent access to Interstate 680 and 880; Two (2) industrial condominium units with ±2,640 SF total; M2 zoning (industrial)
