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Property profile & analytics
OFF-MARKET
Estimated value
$5,670,000
Life science properties
510 Cottonwood Dr, Milpitas, CA 95035-7403
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2412591
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1983
Construction
TILT-UP CONCRETE
Total area
122,270 SF
Lot
13.43 ac (585,010 SF)
Zoning code
MPS
APN
083-31-033
UPID
US09-2412591
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
-
Papfin Employment Agency
-
Johnson & Johnson Vision Industrial Manufacturer Production Facility
-
AMO Manufacturing Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.67M
Owner & transaction history
Cottonwood Drive LLC · 9 yrs held
Cottonwood Drive LLC
since 2017
7 recorded transactions
Zoning & alternative use
MPS · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$46 / 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
$648,750
Tax year 2024
Assessed value
$55,580,456
Assessed 2024
Previous assessed
$55,580,456
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$32,997,053
Assessed improvement
$22,583,403
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1983
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Buildings
2
Stories
2
Units
2
Total area
122,270 SF
Lot
13.43 ac (585,010 SF)
Zoning code
MPS
APN
083-31-033
UPID
US09-2412591
Jurisdiction
SANTA CLARA
Zoning & alternative use
MPS · Milpitas, CA
Zoning MPS · permitted uses
MPS · 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.
Building & site characteristics
From public records
Year built
1983
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
13.43 ac
Current owner
From public records · entity-resolved
Cottonwood Drive LLC
Entity
Mailing address
2727 LYNDON B JOHNSON FWY STE #806, DALLAS, TX 75234-7334
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2017
$49,848,000
Cottonwood Drive LLC
Cottonwood Income Partners LLC
Grant Deed
$32,400,000 · Deutsche Bank National Trust Co
Aug 22, 2016
—
Cottonwood Income Partners LLC
—
Deed
related
$23,000,000 · City Nat'l Bk
Oct 29, 2010
—
Cottonwood Income Partners LLC
Trt Noip Cottonwood Milpitas LP
Grant Deed
$13,255,000 · Wells Fargo Bank NA
Jul 6, 2010
$20,864,500
Trt Noip Cottonwood Milpitas LP
Istar Ctl Cottonwood Milpitas LLC
Grant Deed
$443,030,000 · Wells Fargo Bank NA
May 19, 2008
—
Istar Ctl Cottonwood-milipitas
Trinet Milpitas Assocs LLC
Trustees Deed
$960,000,000 · General Elec Cap
Aug 18, 1998
—
Trinet Milpitas Associates LLC
Milpitas Oak Creek Delaware In
Quit Claim Deed
related
—
—
—
Cottonwood Income Partners LLC
—
Loan Modification
related
$23,000,000 · City Nat'l Bk
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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