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Property profile & analytics
OFF-MARKET
Estimated value
$15,400,000
Industrial properties
461 Milpitas Blvd Milpitas, CA 95035-5438
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-5361224
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1983
Construction
WOOD
Total area
59,310 SF
Lot
3.86 ac (168,142 SF)
Zoning code
M2
APN
086-42-039
UPID
US09-5361224
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
-
Milpitas Charity Bingo Bingo Hall
-
APCA Gas Station
-
Spot LLC Corporate Office
-
Bonfare Markets, Inc. Corporate Office
-
Healthai360 Inc (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.23M
Comparable Approach
Comparable
$9.74M
Blend (final)
Blend
$15.40M
Owner & transaction history
461 South Milpitas LLC · 4 yrs held
461 South Milpitas LLC
since 2022
Last sale
$15.7M
1 recorded transaction
Zoning & alternative use
M2 · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$24.8M
+35.9%
Warehouse, storage
$21.1M
+15.6%
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
$14,965,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,500,000
6.5%
$15,230,000
7%
$14,140,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$18,240,000
Current use
APARTMENT HOUSE (5+ UNITS)
$24,790,000
Change: +36% · Conversion: Difficult
WAREHOUSE, STORAGE
$21,085,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$15.40M
Range $13.86M – $16.94M · ±10% · vs last sale $15.70M (Mar 29 2022)
Last sale anchor
$15.70M
Mar 29 2022
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
$260 / 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
$223,753
Tax year 2024
Assessed value
$19,222,280
Assessed 2024
Previous assessed
$19,222,280
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$14,877,720
Assessed improvement
$4,344,560
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1983
Construction
WOOD
Stories
1
Units
1
Total area
59,310 SF
Lot
3.86 ac (168,142 SF)
Zoning code
M2
APN
086-42-039
UPID
US09-5361224
Jurisdiction
SANTA CLARA
Zoning & alternative use
M2 · Milpitas, CA
Zoning M2 · permitted uses
M2 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$18.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.8M
WAREHOUSE, STORAGE
Est. value
$21.1M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1983
Construction
WOOD
Stories
1
Units
1
Lot
3.86 ac
Current owner
From public records · entity-resolved
461 South Milpitas LLC
Entity
Free & Clear · 4 yrs held
Mailing address
10390 STERN AVE, CUPERTINO, CA 95014-3644
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2022
$15,700,000
461 South Milpitas LLC
Crinda Equity Partners LLC
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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