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Property profile & analytics
OFF-MARKET
Estimated value
$10,390,000
Warehouses
1680 Main St Milpitas, CA 95035-6249
Entity Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2677538
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
TILT-UP CONCRETE
Total area
71,904 SF
Lot
2.19 ac (95,396 SF)
Zoning code
R4
APN
083-42-001
UPID
US09-2677538
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
-
Record Nations Storage Facility
-
Saf Keep Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.39M
Owner & transaction history
Merritt Three LP · 28 yrs held
Merritt Three LP
since 1998
7 recorded transactions
Zoning & alternative use
R4 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$144 / 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
$79,219
Tax year 2024
Assessed value
$6,729,441
Assessed 2024
Previous assessed
$6,729,441
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,676,609
Assessed improvement
$5,052,832
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
498
Total area
71,904 SF
Lot
2.19 ac (95,396 SF)
Zoning code
R4
APN
083-42-001
UPID
US09-2677538
Jurisdiction
SANTA CLARA
Zoning & alternative use
R4 · Milpitas, CA
Zoning R4 · permitted uses
R4 · 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.
Building & site characteristics
From public records
Year built
1999
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
498
Lot
2.19 ac
Current owner
From public records · entity-resolved
Merritt Three LP
Entity
Mailing address
1939 HARRISON ST STE #410, OAKLAND, CA 94612-3532
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2024
—
Merritt Three LP
—
Deed
related
$75,000 · 4086 Mortgage Capital INC
Apr 28, 1998
—
Merrit Three LP
—
Grant Deed
related
$3,428,000 · Bank Of The West
Feb 26, 1998
$100,000
Merritt Three LP
Merritt Patners LP
Grant Deed
related
—
Jun 6, 1997
$1,050,000
Merritt Partners LP
Tire Salvage Corp
Grant Deed
$525,000 · Bank Of The West
—
—
Merritt Three LP
—
Deed Of Trust
related
$3,945,000 · Bank Of The West
—
—
Tire Salvage Corp
—
Deed Of Trust
related
$50,000 · Mm&b Marketing
—
—
Merritt Three LP
—
Deed Of Trust
related
$4,150,000 · Miscellaneous Ins Co
—
—
Merritt Three
—
Deed Of Trust
related
$4,400,000 · Lehman Brothers Bk
—
—
Tire Salvage Corp
—
Deed Of Trust
related
$350,000 · Jamals Enterprises INC Psp
—
—
Tire Salvage Corp
—
Deed Of Trust
related
$10,125 · M M & B Marketing INC Pst
—
—
Tire Salvage Corp
—
Deed Of Trust
related
$15,000 · Montebelo Capital Corp
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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