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Property profile & analytics
OFF-MARKET
Estimated value
$25,010,000
Office buildings
341 Great Mall Pkwy, Milpitas, CA 95035-8008
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3278393
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
TILT-UP CONCRETE
Total area
55,458 SF
Lot
2.73 ac (118,918 SF)
Zoning code
C
APN
086-24-057
UPID
US10-3278393
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
-
Stratford School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$32.02M
Comparable Approach
Comparable
$15.49M
Blend (final)
Blend
$25.01M
Owner & transaction history
Store Master Funding IV LLC · 2 yrs held
Store Master Funding IV LLC
since 2023
Last sale
$25.8M
6 recorded transactions
Zoning & alternative use
C · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$36.4M
+10.5%
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
$25,960,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$34,685,000
6.5%
$32,015,000
7%
$29,730,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$32,920,000
Current use
RETAIL STORES
$36,360,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$25.01M
Range $22.51M – $27.51M · ±10% · vs last sale $25.79M (Jul 6 2023)
Last sale anchor
$25.79M
Jul 6 2023
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
$451 / 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
$241,757
Tax year 2024
Assessed value
$20,887,500
Assessed 2024
Previous assessed
$20,887,500
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$13,100,000
Assessed improvement
$7,787,500
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Units
1
Total area
55,458 SF
Lot
2.73 ac (118,918 SF)
Zoning code
C
APN
086-24-057
UPID
US10-3278393
Jurisdiction
SANTA CLARA
Zoning & alternative use
C · Milpitas, CA
Zoning C · permitted uses
C · 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
OFFICE BUILDING Current
Est. value
$32.9M
RETAIL STORES
Est. value
$36.4M
OFFICE BUILDING Current
RETAIL STORES
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
1987
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Units
1
Lot
2.73 ac
Current owner
From public records · entity-resolved
Store Master Funding IV LLC
Entity
Mailing address
8377 E HARTFORD DR STE #100, SCOTTSDALE, AZ 85255-5686
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2023
$25,787,500
Store Master Funding IV LLC
Store Spe Corinthian LLC
Grant Deed
$25,787,310 · Citibank NA
Mar 5, 2012
$14,563,500
Store Spe Corinthian LLC
Heald Real Estate LLC
Grant Deed
—
Aug 16, 2007
—
Heald Real Estate LLC
Heald College
Quit Claim Deed
$35,000,000 · Allstate Life Insurance Co
—
—
Head Real Estate LLC
—
Deed Of Trust
related
—
—
—
Heald Real Estate LLC
—
Deed Of Trust
related
$24,100 · Bank Of America
—
—
Head Real Estate LLC
—
Deed Of Trust
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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