Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    187 Main St Milpitas, CA 95035-5314

    • Retail space
    • 1,188 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    May 19, 2021
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1686075
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Best Sandwiches / Take-out & Catering
    • Tech Lunch Corporate Catering / Catering Service / Take-out & Catering

    Property Details for 187 Main St

    Year built
    1915
    Lot size
    0.06 lot acres
    Property size
    1,188 SF
    Zone code
    C25
    Property type
    Retail space
    APN
    083-06-001
    APU
    8306001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Milpitas
    County
    Santa Clara
    State
    California
    Longitude
    -121.906
    Latitude
    37.4279
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,090
    $324,022
    $88,366
    $412,388
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,880,000
      22,176 SF

      66 Main St

      RETAIL STORES (PERSONAL SERVICES) • 22,176 SF
      66 Main St, Milpitas, CA 95035-5311
      View Details
    • Value Estimation
      $6,170,000
      18,900 SF

      1770 Milmont Dr

      RETAIL STORES (PERSONAL SERVICES) • 18,900 SF
      1770 Milmont Dr, Milpitas, CA 95035
      View Details
    • Value Estimation
      $940,000
      2,315 SF

      1365 Park Victoria Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,315 SF
      1365 Park Victoria Dr, Milpitas, CA 95035-6976
      View Details
    • Value Estimation
      $19,570,000
      86,250 SF

      120 Rnch Dr

      RETAIL STORES (PERSONAL SERVICES) • 86,250 SF
      120 Rnch Dr, Milpitas, CA 95035-5101
      View Details
    • Value Estimation
      $4,250,000
      187,134 SF

      11 Rnch Dr

      RETAIL STORES (PERSONAL SERVICES) • 187,134 SF
      11 Rnch Dr, Milpitas, CA 95035
      View Details
    • Value Estimation
      $2,525,000
      6,015 SF

      507th N Mccarthy Blvdn

      RETAIL STORES (PERSONAL SERVICES) • 6,015 SF
      507th N Mccarthy Blvdn, Milpitas, CA 95035-9082
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,602 SF

      Milpitas Land For Sale

      19,602 SF lot in the heart of Silicon Valley.
      7280 Marylinn Dr, Milpitas, CA 95035
      View Details
    • Contact for pricing

      Milpitas Land For Sale

      1.81 acres of land available in Milpitas, California.
      134 S Main St, Milpitas, CA 95035
      View Details
    • Contact for pricing
      2,640 SF

      Milpitas Industrial Condominium For Sale

      Two-unit industrial condominium totaling 2,640 SF in Milpitas, CA.
      527 Sinclair Frontage Rd, Milpitas, CA 95035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      43,485 SF

      Milpitas Retail Space For Rent

      Retail space available in established Milpitas shopping center.
      110-158 Ranch Dr, Milpitas, CA 95035
      View Details
    • Contact for pricing
      2,202 SF

      Retail Space in Residential Complex

      Retail space available within a 381-unit residential complex.
      753 Montague Expy, Milpitas, CA 95035
      View Details
    • $5 SF/Yr
      4,500 SF

      Turnkey Bakery Space Available

      Former bakery space with FF&E included, ready for occupancy.
      642-668 Barber Ln, Milpitas, CA 95035
      View Details
    • $4 SF/Yr
      12,000 SF

      Milpitas Retail Space Available

      Retail space available for rent in Milpitas, California.
      1463 Centre Pointe Dr, Milpitas, CA 95035
      View Details
    • Contact for pricing
      880 SF

      Retail Space Available For Rent

      Retail space available for lease in Milpitas, California.
      61 Serra Way, Milpitas, CA 95035
      View Details
    • Contact for pricing
      1,053 SF

      Milpitas Retail Space Available

      Retail space available for lease in Milpitas, California.
      1774-1838 Milmont Dr, Milpitas, CA 95035
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    187 Main St
    Milpitas, CA 95035-5314
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!