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Property profile & analytics
OFF-MARKET
Estimated value
$8,930,000
Strip malls
1535 Landess Ave Milpitas, CA 95035-8208
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2080624
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2010
Construction
TILT-UP CONCRETE
Total area
76,894 SF
Lot
7.24 ac (315,374 SF)
Zoning code
C2
APN
088-35-017
UPID
US10-2080624
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
-
Fine Jewelry (Bike/Boat/Book/etc) Store
-
PnC Music Company Vocational School Training Center
-
Gabucan Family Dentistry Dental Office
-
Milpitas Mall Shopping Center Shopping Center & Mall
-
Seasons Shopping Center Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.93M
Owner & transaction history
Ay-gb Milpitas LLC · 18 yrs held
Ay-gb Milpitas LLC
since 2008
5 recorded transactions
Zoning & alternative use
C2 · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Specific Plan area is currently designated General Commercial (C2) by the City of Milpitas Zoning Code. The C2 zoning district is intended to provide for a wide range of retail sales and personal and business services primarily oriented to the automobile customer and is intended to promote stable, attractive commercial development which will afford a ple…
Zone name
General Commercial
General category
COMMERCIAL
Zone area
168.55 ac
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.93M
Range $8.04M – $9.82M · ±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
$116 / 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
$380,863
Tax year 2024
Assessed value
$32,774,839
Assessed 2024
Previous assessed
$32,774,839
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$18,028,728
Assessed improvement
$14,746,111
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2010
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
76,894 SF
Lot
7.24 ac (315,374 SF)
Zoning code
C2
APN
088-35-017
UPID
US10-2080624
Jurisdiction
SANTA CLARA
Zoning & alternative use
C2 · Milpitas, CAZoning C2 · permitted uses
C2 · Milpitas, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Specific Plan area is currently designated General Commercial (C2) by the City of Milpitas Zoning Code. The C2 zoning district is intended to provide for a wide range of retail sales and personal and business services primarily oriented to the automobile customer and is intended to promote stable, attractive commercial development which will afford a pleasant shopping environment. This zone permits retail sales as of right. Grocery stores that are within one thousand (1,000) feet of a residential zone and Liquor Stores (Alcohol Beverage Sales) are conditionally permitted.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
168.55 ac
Building & site characteristics
From public records
Year built
2010
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
7.24 ac
Current owner
From public records · entity-resolved
Ay-gb Milpitas LLC
Entity
Mailing address
2883 SURVEYOR ST, POMONA, CA 91768-3251
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2014
—
Ay-gb Milpitas LLC
—
Grant Deed
related
$11,250,000 · East West Bk
Nov 18, 2009
—
Ay-gb Milpitas LLC
—
Trustees Deed
related
$7,000,000 · Preferred Bank
Jun 26, 2008
$16,000,000
Ay-gb Milpitas LLC
Home Depot USA INC
Grant Deed
—
Aug 15, 2007
—
Home Depot USA INC
Hd Supply Repair & Remodel LLC
Grant Deed
related
—
Mar 7, 2007
—
Hd Supply Repair & Remodel LLC
Home Depot INC
Grant Deed
—
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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