Milpitas Industrial Condominium For
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527 Sinclair Frontage Rd, Milpitas, CA 95035
Two-unit industrial condominium totaling 2,640 SF in Milpitas, CA.
Property Size2,640 SF
Price / SF$500
Days on Market162
Property Features for 527 Sinclair Frontage Rd
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Industrial
Building Details
Year Built
1980
Units
2
Listing Agency:
SVN | Capital West Partners
(510) 846-4649
Listed By:
Sean Dinh · License #01839424
Source:
Crexi
Added: Mar 2
Changed: Aug 9
Last Checked: Aug 10 at 7:40AM
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.
The property at 525 & 527 Sinclair Frontage Road is a two-unit industrial condominium offering totaling approximately 2,640 square feet, with each unit comprising approximately 1,320 square feet. Constructed in 1980 and zoned M2, the property provides a functional and flexible layout. It is located in Milpitas, CA. The property is ideal for light industrial, manufacturing, R&D, or owner-user operations. This presents an ideal opportunity for owner-users looking to control their occupancy costs while positioning their business for long-term growth in a premier Milpitas industrial location.
Key Highlights
- Two‑unit industrial condominium totaling ±2,640 square feet.
- Each unit comprises ±1,320 square feet.
- Zoned M2, suitable for light industrial, manufacturing, R&D, or owner‑user operations.
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
1,436
Businesses Nearby
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?
Manufacturing property - Two-unit industrial condominium totaling 2,640 SF in Milpitas, CA.
Where is this manufacturing property located?
The property is located at 527 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: Two‑unit industrial condominium totaling ±2,640 square feet.; Each unit comprises ±1,320 square feet.; Zoned M2, suitable for light industrial, manufacturing, R&D, or owner‑user operations.
