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Property profile & analytics
OFF-MARKET
Estimated value
$20,055,000
Life science properties
1323 Great Mall Dr Milpitas, CA 95035-8013
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0880193
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
2000
Construction
CONCRETE
Total area
53,670 SF
Lot
3 ac (130,680 SF)
Zoning code
C2-S
APN
086-24-046
UPID
US09-0880193
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.06M
Owner & transaction history
Seg INC · 3 yrs held
Seg INC
since 2023
Last sale
$21.5M
3 recorded transactions
Zoning & alternative use
C2-S · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$31.9M
+3.9%
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
$20,810,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$30,655,000
Current use
OFFICE BUILDING
$31,860,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$20.06M
Range $18.05M – $22.06M · ±10% · vs last sale $21.50M (Jul 6 2023)
Last sale anchor
$21.50M
Jul 6 2023
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
$374 / 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
$248,883
Tax year 2024
Assessed value
$21,500,000
Assessed 2024
Previous assessed
$21,500,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$14,375,000
Assessed improvement
$7,125,000
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
2000
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
2
Total area
53,670 SF
Lot
3 ac (130,680 SF)
Zoning code
C2-S
APN
086-24-046
UPID
US09-0880193
Jurisdiction
SANTA CLARA
Zoning & alternative use
C2-S · Milpitas, CA
Zoning C2-S · permitted uses
C2-S · 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
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$30.7M
OFFICE BUILDING
Est. value
$31.9M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
OFFICE BUILDING
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
2000
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
3 ac
Current owner
From public records · entity-resolved
Seg INC
Entity
Free & Clear · 3 yrs held
Mailing address
1999 S BASCOM AVE STE #400, CAMPBELL, CA 95008-2219
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2023
—
Seg INC
Store Master Funding IV LLC
Assignment Of Lease (leasehold Sale)
—
Jul 6, 2023
$21,500,000
Store Master Funding IV LLC
Jjp Industrial Enterprises LLC
Grant Deed
$56,650,000 · Citibank NA
May 10, 2000
—
Jjp Industrial Enterprises LLC
Centre Point Plaza LLC
Grant Deed
related
—
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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