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Property profile & analytics
OFF-MARKET
Estimated value
$5,480,000
Office buildings
1289 Park Victoria Dr, Milpitas, CA 95035-6996
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3155219
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Total area
9,696 SF
Lot
0.52 ac (22,500 SF)
Zoning code
CSS
APN
088-36-035
UPID
US10-3155219
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
-
Milpitas Children's Dentistry Dental Office
-
Comerica Bank Bank Loan Service
-
Comerica Bank - ATM Investment Bank Atm
-
Antonio Chan Physician
-
Lei Jiang Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.77M
CAP Approach
CAP
$5.60M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.48M
Owner & transaction history
Sierra Gate LLC · 6 yrs held
Sierra Gate LLC
since 2020
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
CSS · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.4M
+10.5%
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
$6,195,000
ML approach
$5,770,000
CAP Approach
CAP Return
Estimation
6%
$6,065,000
6.5%
$5,595,000
7%
$5,200,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,755,000
Current use
RETAIL STORES
$6,355,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$5.48M
Range $4.93M – $6.03M · ±10% · vs last sale $4.92M (Jan 28 2020)
Last sale anchor
$4.92M
Jan 28 2020
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
$565 / 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
$62,228
Tax year 2024
Assessed value
$5,384,245
Assessed 2024
Previous assessed
$5,384,245
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,447,471
Assessed improvement
$3,936,774
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1982
Heating
NONE
Cooling
YES
Total area
9,696 SF
Lot
0.52 ac (22,500 SF)
Zoning code
CSS
APN
088-36-035
UPID
US10-3155219
Jurisdiction
SANTA CLARA
Zoning & alternative use
CSS · Milpitas, CA
Zoning CSS · permitted uses
CSS · 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
OFFICE BUILDING Current
Est. value
$5.8M
RETAIL STORES
Est. value
$6.4M
OFFICE BUILDING Current
RETAIL STORES
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
1982
Heating
NONE
Cooling
Yes
Lot
0.52 ac
Current owner
From public records · entity-resolved
Sierra Gate LLC
Entity
Mailing address
3485 SIERRA RD, SAN JOSE, CA 95132-3000
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2025
—
Sierra Gate LLC
—
Deed
related
$1,999,999 · Bank Of America NA
Jan 28, 2020
$4,921,000
Sierra Gate LLC
Mccarthy Lg Boulevard LLC
Grant Deed
$3,000,000 · Jpmorgan Chase Bank NA
Oct 5, 2012
$2,837,000
Mccarthy Lg Boulevard LLC
Chan Family Trust
Grant Deed
$2,100,000 · Comerica Bank
Nov 7, 2006
$2,330,000
Chan Family Trust
Patterson,janice E
Grant Deed
$1,212,000 · Luther Burbank Savings & Loan
Dec 9, 1999
—
Patterson Trust
Patterson,janice E
Quit Claim Deed
related
—
Feb 13, 1997
—
Janice E Patterson
Patterson,richard L
Quit Claim Deed
related
—
Feb 7, 1997
$1,300,000
Janice E Patterson
Pacific Victoria Investment Co
Grant Deed
$800,000 · Bank Of America
Feb 6, 1997
$1,300,000
Janice E Patterson
Pacific Victoria Investment Co
Grant Deed
$800,000 · Bank Of America
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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