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Property profile & analytics
OFF-MARKET
Estimated value
$1,485,000
Warehouses
261 Bothelo Ave Milpitas, CA 95035-5338
Trust Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2513058
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1998
Total area
5,266 SF
Lot
2 ac (87,120 SF)
Zoning code
M2S
APN
083-07-003
UPID
US09-2513058
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
-
United Rentals - Aerial (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.49M
Owner & transaction history
Preston,michael D Trust · 11 yrs held
Preston,michael D Trust
since 2014
7 recorded transactions
Zoning & alternative use
M2S · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.2M
+17.6%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,780,000
6.5%
$1,640,000
7%
$1,525,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,870,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,200,000
Change: +18% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,620,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.49M
Range $1.34M – $1.63M · ±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
$282 / 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
$37,706
Tax year 2024
Assessed value
$3,112,723
Assessed 2024
Previous assessed
$3,112,723
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$3,004,563
Assessed improvement
$108,160
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
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1998
Heating
NONE
Cooling
YES
Stories
1
Units
1
Rooms
3
Bathrooms
2
Total area
5,266 SF
Lot
2 ac (87,120 SF)
Zoning code
M2S
APN
083-07-003
UPID
US09-2513058
Jurisdiction
SANTA CLARA
Zoning & alternative use
M2S · Milpitas, CA
Zoning M2S · permitted uses
M2S · 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
WAREHOUSE, STORAGE Current
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1998
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Rooms
3
Bathrooms
2
Lot
2 ac
Current owner
From public records · entity-resolved
Preston,michael D Trust
Trust
Mailing address
133 BOTHELO AVE, MILPITAS, CA 95035-5325
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2022
—
Michael Darold Preston
—
Deed
related
$8,000,000 · Heritage Bank Of Commerce
Feb 22, 2019
—
Preston,michael D Trust
—
Deed
related
—
Jul 17, 2014
—
Preston,michael D Trust
Kb Home South Bay INC
Quit Claim Deed
related
—
Oct 9, 2013
$2,590,000
Preston,michael D Trust
Duran Charles & C Trust
Grant Deed
$1,942,500 · Heritage Bk/commerce
Aug 21, 2002
—
Venables,tr
Venables,marchand L & Kandra K
Quit Claim Deed
related
—
Sep 15, 1999
—
Duran Trust
Duran,charles & Carol
Quit Claim Deed
related
—
Sep 23, 1994
$340,000
Charles Duran
Preston,michael D
Grant Deed
—
Sep 14, 1994
$264,500
Preston,michael D
Martinez,julia
Trustees Deed
—
Sep 14, 1994
—
Julia Martinez
Tapia,luis G & Mary E
Quit Claim Deed
related
—
Mar 26, 1993
—
Juan Avila
Avila,j.
Quit Claim Deed
related
—
—
—
Preston,michael D Trust
—
Loan Modification
related
—
—
—
Preston,michael D Trust
—
Loan Modification
related
$1,942,500 · Heritage Bk/commerce
—
—
Chalres Duran
—
Deed Of Trust
related
$725,000 · Bank Of Santa Clara
—
—
Charles Duran
—
Deed Of Trust
related
$275,000 · Hoyt Trust
—
—
Charles Duran
—
Deed Of Trust
related
$725,000 · Bank Of Santa Clara
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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