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Property profile & analytics
OFF-MARKET
Estimated value
$7,580,000
Office buildings
461 Vly Way, Milpitas, CA 95035-4105
Individually Owned
21-yr Hold
Free & Clear
Property ID
US09-1209460
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Construction
TILT-UP CONCRETE
Total area
17,610 SF
Lot
3.19 ac (138,956 SF)
Zoning code
C2
APN
022-28-022
UPID
US09-1209460
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.17M
Comparable Approach
Comparable
$5.11M
Blend (final)
Blend
$7.58M
Owner & transaction history
Sobrato Foundation · 21 yrs held
Sobrato Foundation
since 2005
5 recorded transactions
Zoning & alternative use
C2 · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$11.5M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$11,015,000
6.5%
$10,165,000
7%
$9,440,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,455,000
Current use
RETAIL STORES
$11,545,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$7.58M
Range $6.82M – $8.34M · ±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
$430 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$6,886,519
Assessed 2023
Previous assessed
$6,751,490
+2.0% YoY
Assessed land
$3,724,616
Assessed improvement
$3,161,903
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
1977
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Units
40
Total area
17,610 SF
Lot
3.19 ac (138,956 SF)
Zoning code
C2
APN
022-28-022
UPID
US09-1209460
Jurisdiction
SANTA CLARA
Zoning & alternative use
C2 · Milpitas, CA
Zoning C2 · permitted uses
C2 · 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
$10.5M
RETAIL STORES
Est. value
$11.5M
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
1977
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
40
Lot
3.19 ac
Current owner
From public records · entity-resolved
Sobrato Foundation
Individual
Free & Clear · 21 yrs held
Mailing address
2440 W EL CAMINO REAL STE #300, MOUNTAIN VIEW, CA 94040-1498
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2005
—
Sobrato Foundation
Cfsv Real Estate Foundation
Grant Deed
—
Dec 23, 2003
—
Cfsv Real Estate Foundation
Sobrato,tr
Grant Deed
related
—
Dec 20, 2002
$7,500,000
Sobrato,tr
Treakle,tr
Grant Deed
—
Feb 5, 2002
—
Treakle Trust
Calaveras Associates Ltd
Quit Claim Deed
related
—
—
—
Calaveras Associ
—
Deed Of Trust
related
$3,700,000 · Home Savings Of America
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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