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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Sports & entertainment properties
1818 Clear Lk Ave Milpitas, CA 95035-7017
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1898224
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1978
Construction
WOOD
Total area
24,300 SF
Lot
1.3 ac (56,628 SF)
Zoning code
C2
APN
088-43-026
UPID
US09-1898224
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
-
Fit Zone Milpitas Gym & Fitness Center
-
Milpitas Elite Academy Tutoring Service Training Center
-
Milpitas Star Aquatics & Fitness Swimming School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$440k
Blend (final)
Blend
$570k
Owner & transaction history
Timespace Milpitas Dev LLC · 14 yrs held
Timespace Milpitas Dev LLC
since 2011
7 recorded transactions
Zoning & alternative use
C2 · 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
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$915,000
Current use
APARTMENT HOUSE (5+ UNITS)
$910,000
Change: -1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$835,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$23 / 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
$34,898
Tax year 2024
Assessed value
$2,924,634
Assessed 2024
Previous assessed
$2,924,634
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,723,995
Assessed improvement
$1,200,639
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1978
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
24,300 SF
Lot
1.3 ac (56,628 SF)
Zoning code
C2
APN
088-43-026
UPID
US09-1898224
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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$915,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$910,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$835,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1978
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.3 ac
Current owner
From public records · entity-resolved
Timespace Milpitas Dev LLC
Entity
Mailing address
12230 SARATOGA SUNNYVALE RD, SARATOGA, CA 95070-3079
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2025
—
Timespace Milpitas Development LLC
—
Deed
related
$2,000,000 · Preferred Bank
Feb 12, 2020
—
Timespace Milpitas Development LLC
—
Deed
related
$250,000 · First Commercial Bank
May 24, 2018
—
Timespace Milpitas Development LLC
—
Deed
related
$125,000 · First Commercial Bank
Apr 12, 2012
—
Timespace Milpitas Dev LLC
—
Trustees Deed
related
$1,709,625 · First Commerce Bank
Dec 14, 2011
$2,375,000
Timespace Milpitas Dev LLC
North American Land & Leasing
Grant Deed
$1,187,500 · First Commercial Bank (usa)
Sep 28, 1988
$575,000
North American L
National Credit
Grant Deed
—
Jul 25, 1988
$575,000
National Credit
Milpi
Grant Deed
related
—
—
—
Timespace Milpitas Dev LLC
—
Deed Of Trust
related
$3,440,000 · Bank Of America
—
—
Timespace Milpitas Dev LLC
—
Deed Of Trust
related
$2,175,000 · First Commercial Bank (usa)
—
—
Timespace Milpitas Dev LLC
—
Deed Of Trust
related
$815,906 · First Commercial Bank (usa)
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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