Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$125,015,000
Apartment buildings
1317 Mccandless Dr Milpitas, CA 95035-8123
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-5318675
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2019
Construction
WOOD
Total area
503,840 SF
Lot
5.02 ac (218,671 SF)
Zoning code
MXD2
APN
086-33-104
UPID
US09-5318675
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
-
Orangetheory Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$147.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$125.02M
Owner & transaction history
Starbucks Corporation · 1 yrs held
Starbucks Corporation
since 2025
6 recorded transactions
Zoning & alternative use
MXD2 · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$159,615,000
6.5%
$147,340,000
7%
$136,815,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$179,110,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$125.02M
Range $112.51M – $137.52M · ±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
$248 / 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
$2,567,624
Tax year 2024
Assessed value
$197,071,953
Assessed 2024
Previous assessed
$197,071,953
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$25,757,306
Assessed improvement
$171,314,647
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
CENTRAL
Cooling
YES
Stories
7
Units
371
Total area
503,840 SF
Lot
5.02 ac (218,671 SF)
Zoning code
MXD2
APN
086-33-104
UPID
US09-5318675
Jurisdiction
SANTA CLARA
Zoning & alternative use
MXD2 · Milpitas, CA
Zoning MXD2 · permitted uses
MXD2 · 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
WAREHOUSE, STORAGE
Est. value
$179.1M
WAREHOUSE, STORAGE
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
2019
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
7
Units
371
Lot
5.02 ac
Current owner
From public records · entity-resolved
Starbucks Corporation
Entity
Mailing address
4901 BIRCH ST, NEWPORT BEACH, CA 92660-2114
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2025
—
Starbucks Corporation
Milpitas - District 1 Owner LLC
Deed
—
Feb 1, 2023
—
Bin Liu
—
Deed
related
$250,000 · Us Bank NA
Dec 1, 2022
—
Milpitas District 1 Owner LLC
—
Deed
related
$121,129,000 · Capital One NA
Jun 24, 2019
—
Milpitas-district 1 Owner LLC
—
Grant Deed
related
$185,500,000 · Clnc Cr 6 LLC +
Oct 28, 2011
—
Nine Of District Project Owner
Milpitas Project Owner LP
Quit Claim Deed
related
$9,405,000 · California Bk&tr
Oct 28, 2010
$14,123,000
Milpitas Project Owner LP
Mission West Properties LP II
Grant Deed
$7,123,000 · Tom Meckenstock
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1317 Mccandless Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
