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    Property profile & analytics

    2021 Milpitas Blvd Milpitas, CA 95035-2566

    • Apartment buildings
    • 98,052 SF
    • 4.10 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2020
    $36,250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2390626
    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 Hazelwood Apartments / Apartment Complex / Apartment Building
    • Mithun Madhura / E-Commerce Service
    • HelloLumbini / Software Company
    • Akira AI / Marketing Agency

    Property Details for 2021 Milpitas Blvd

    Year built
    1989
    Construction
    WOOD
    Lot size
    4.10 lot acres
    Property size
    98,052 SF
    Zone code
    R3
    Property type
    Apartment buildings
    APN
    022-01-015
    APU
    2201015

    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
    -121.913
    Latitude
    37.4596
    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
    $447,470
    $6,101,946
    $32,684,713
    $38,786,659
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $560,000
      5.28 Acres

      1646 Ctr Pointe Dr

      APARTMENT HOUSE (5+ UNITS) • 5.28 Acres
      1646 Ctr Pointe Dr, Milpitas, CA 95035
      View Details
    • Value Estimation
      $320,000
      3,795 SF

      257 Selwyn Dr

      APARTMENT HOUSE (5+ UNITS) • 3,795 SF
      257 Selwyn Dr, Milpitas, CA 95035-5572
      View Details
    • Value Estimation
      $405,000
      19,968 SF

      133 Temple Dr

      APARTMENT HOUSE (5+ UNITS) • 19,968 SF
      133 Temple Dr, Milpitas, CA 95035-4971
      View Details
    • Value Estimation
      $420,000
      13,312 SF

      1511 Calaveras Blvd

      APARTMENT HOUSE (5+ UNITS) • 13,312 SF
      1511 Calaveras Blvd, Milpitas, CA 95035-5847
      View Details
    • Value Estimation
      $1,545,000
      425,060 SF

      1001 Main St

      APARTMENT HOUSE (5+ UNITS) • 425,060 SF
      1001 Main St, Milpitas, CA 95035-5341
      View Details
    • Value Estimation
      $855,000
      39,169 SF

      1425 Mccandless Dr

      APARTMENT HOUSE (5+ UNITS) • 39,169 SF
      1425 Mccandless Dr, Milpitas, CA 95035
      View Details

    Similar Nearby for Sale

    • $398,000

      Milpitas 55+ Community Mobile Home

      2000-built mobile home in a convenient Milpitas location.
      1515 N Milpitas Blvd, Milpitas, CA 95035
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    • $309,000

      Charming Home in Senior Community

      Affordable 2-bedroom, 2-bath home in desirable senior community.
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    • $1,680,000
      15,107 SF

      Milpitas Mixed-Use Land Opportunity

      Prime Silicon Valley location, development potential.
      7280 Marylinn Dr, Milpitas, CA 95035
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    • $6,000,000

      Industrial Land Near Milpitas BART

      Approximately 1 acre of industrial land near BART station.
      1000 Yosemite Dr, Milpitas, CA 95035
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    • $6,550,000

      Land For Sale Milpitas

      Land available for sale in Milpitas, California.
      1000 Jacklin Rd, Milpitas, CA 95035
      View Details
    • $290,000

      Turnkey Boba Milk Tea Shop

      Established boba shop in high-traffic location, ready for new owner.
      60 S Able St, Milpitas, CA 95035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      35,208 SF

      Prime Milpitas Industrial Space

      35,208 SF Manufacturing/Flex/R&D
      237 Hillview Dr, Milpitas, CA 95035
      View Details
    • Contact for pricing
      1,500 SF

      Landess Ave Retail Space For Lease

      Prime Santa Clara Retail, 1500 SF
      1455-1487 Landess Ave, Milpitas, CA 95035
      View Details
    • $2 SF/Yr
      1,278 SF

      Milpitas Office Space Available

      Office space for rent with highway access and expansion potential.
      1603-1629 S Main St, Milpitas, CA 95035
      View Details
    • Contact for pricing
      5,760 SF

      Milpitas Flex Space Available

      Flex space available for lease in Milpitas, California.
      1503-1509 N Milpitas Blvd, Milpitas, CA 95035
      View Details
    • Contact for pricing

      Milpitas Flex Space Available

      Flex space for rent in Milpitas, California.
      1755 Mccarthy Blvd, Milpitas, CA 95035
      View Details
    • Contact for pricing
      48,000 SF

      Milpitas Warehouse with Secured Yard

      48,000 SF warehouse with secured yard available for lease.
      485 Vista Way, Milpitas, CA 95035
      View Details
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    2021 Milpitas Blvd
    Milpitas, CA 95035-2566
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    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
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