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Property profile & analytics
OFF-MARKET
Estimated value
$5,125,000
Retail space
1549 Landess Ave Milpitas, CA 95035-6901
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-2998969
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1989
Construction
WOOD
Total area
8,000 SF
Lot
0.65 ac (28,314 SF)
Zoning code
C2
APN
088-35-016
UPID
US09-2998969
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
-
LUCKY MONEY MILPITAS - AGENT OF RIA FINANCIAL Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.13M
CAP Approach
CAP
$3.33M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.13M
Owner & transaction history
Grms INC · 1 yrs held
Grms INC
since 2024
Last sale
$5.1M
6 recorded transactions
Zoning & alternative use
C2 · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.2M
+56.8%
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
$5,125,000
ML approach
$5,125,000
CAP Approach
CAP Return
Estimation
6%
$3,600,000
6.5%
$3,325,000
7%
$3,085,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,245,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$8,220,000
Change: +57% · Conversion: Moderate
OFFICE BUILDING
$4,750,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$5.13M
Range $4.61M – $5.64M · ±10% · vs last sale $5.13M (Jun 17 2024)
Last sale anchor
$5.13M
Jun 17 2024
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
$641 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$4,947,000
Assessed 2023
Previous assessed
$4,947,000
+0.0% YoY
Assessed land
$2,448,000
Assessed improvement
$2,499,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
1
Units
7
Bathrooms
9
Total area
8,000 SF
Lot
0.65 ac (28,314 SF)
Zoning code
C2
APN
088-35-016
UPID
US09-2998969
Jurisdiction
SANTA CLARA
Zoning & alternative use
C2 · Milpitas, CA
Zoning C2 · permitted uses
C2 · 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
RETAIL STORES Current
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
OFFICE BUILDING
Est. value
$4.8M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
7
Bathrooms
9
Lot
0.65 ac
Current owner
From public records · entity-resolved
Grms INC
Entity
Mailing address
867 BOAR TER, FREMONT, CA 94539-6013
Ownership since
2024
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
Aug 12, 2024
—
Grms INC
Gurman S Shoker
Grant Deed
—
Jun 17, 2024
$5,125,000
Gurman S Shoker
Peter Yu
Grant Deed
—
Oct 5, 2023
—
Peter Kin Wha Yu
Peter Kin Wha Yu
Intrafamily Transfer
related
—
Dec 21, 1995
—
Yee Trust
Yee,shum & Shui T
Quit Claim Deed
related
—
Dec 30, 1988
$750,000
Shum&shui Yee
Equity Preservat
Grant Deed
related
—
—
—
Yee,tr
—
Deed Of Trust
related
$1,054,845 · United National Bank
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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