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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Sports & entertainment properties
1287 Park Victoria Dr Milpitas, CA 95035-6909
Entity Owned
22-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-3260956
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1980
Total area
33,905 SF
Lot
3.32 ac (144,619 SF)
Zoning code
C
APN
088-34-109
UPID
US10-3260956
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bowler's Edge Pro Shop (Bike/Boat/Book/etc) Store Bowling Alley
-
Bowlero Milpitas Bowling Alley
-
Bowlero Bowling Alley
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$940k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.01M
Owner & transaction history
Istar Bowling Centers I LP · 22 yrs held
Istar Bowling Centers I LP
since 2004
4 recorded transactions
Zoning & alternative use
C · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Milpitas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milpitas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$1,280,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,270,000
Change: -1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,165,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$30 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$91,793
Tax year 2024
Assessed value
$7,920,182
Assessed 2024
Previous assessed
$7,920,182
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$7,250,872
Assessed improvement
$669,310
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1980
Heating
NONE
Stories
1
Total area
33,905 SF
Lot
3.32 ac (144,619 SF)
Zoning code
C
APN
088-34-109
UPID
US10-3260956
Jurisdiction
SANTA CLARA
Zoning & alternative use
C · Milpitas, CA
Zoning C · permitted uses
C · Milpitas, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milpitas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Heating
NONE
Stories
1
Lot
3.32 ac
Current owner
From public records · entity-resolved
Istar Bowling Centers I LP
Entity
Free & Clear · 22 yrs held
Mailing address
7313 BELL CRK RD, MECHANICSVILLE, VA 23111-3551
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2022
—
Cnli Amf I LP
—
Deed
related
—
Mar 11, 2004
$615,909
Istar Bowling Centers I LP
American Recreation Centers
Grant Deed
—
Mar 1, 1995
$2,111,500
Arc Properties INC
Mission Square
Grant Deed
—
—
—
Arc Properties INC
—
Deed Of Trust
related
$780,000 · Citicorp USA Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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