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Property profile & analytics
OFF-MARKET
Estimated value
$1,615,000
Life science properties
598 Gibraltar Dr, Milpitas, CA 95035-6315
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US09-1944267
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1996
Construction
TILT-UP CONCRETE
Total area
44,543 SF
Lot
3.09 ac (134,600 SF)
Zoning code
M2
APN
086-42-009
UPID
US09-1944267
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
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.14M
Blend (final)
Blend
$1.62M
Owner & transaction history
Bpp Pacific Industrial Ca Reit · 9 yrs held
Bpp Pacific Industrial Ca Reit
since 2016
7 recorded transactions
Zoning & alternative use
M2 · 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
Method
Estimation
Statistic approach
by Request
ML approach
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.62M
Range $1.45M – $1.78M · ±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
$36 / 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
$137,813
Tax year 2024
Assessed value
$11,770,824
Assessed 2024
Previous assessed
$11,770,824
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$5,347,795
Assessed improvement
$6,423,029
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
1996
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
44,543 SF
Lot
3.09 ac (134,600 SF)
Zoning code
M2
APN
086-42-009
UPID
US09-1944267
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.
Building & site characteristics
From public records
Year built
1996
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
3.09 ac
Current owner
From public records · entity-resolved
Bpp Pacific Industrial Ca Reit
Individual
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2021
—
Bpp Pacific Industrial Ca Reit Owne
—
Deed
related
—
Dec 14, 2017
—
Bpp Pacific Indl Ca Reit Ow 2
—
Deed
related
—
Nov 18, 2016
$10,345,000
Bpp Pacific Industrial Ca Reit
Lba Realty Fund II Co I LLC
Grant Deed
—
Jul 31, 2013
$6,080,000
Lba Realty Fund II-co I LLC
Lba Realty Fund II-wbp II LLC
Grant Deed
—
May 8, 2006
—
Lba Realty Fund II-wbp II LLC
Bedford Property Investors INC
Grant Deed
—
Oct 11, 1996
—
Bedford Property Investors INC
—
Deed Of Trust
related
$100,000,000 · Bank Of America
Aug 10, 1994
$6,320,500
Bedford Property Investors INC
Prudential Insur
Grant Deed
$23,000,000 · Bank Of America
—
—
Lba Realty Fund II-co I LLC
—
Deed Of Trust
related
$97,000,000 · Bank Of America
—
—
Bpp Pacific Indl Ca Reit Ow 2
—
Loan Modification
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.
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