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Property profile & analytics
OFF-MARKET
Estimated value
$21,810,000
Industrial properties
601 Milpitas Blvd Milpitas, CA 95035
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-2982235
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Construction
TILT-UP CONCRETE
Total area
59,264 SF
Lot
3.78 ac (164,656 SF)
Zoning code
M2
APN
086-42-029
UPID
US09-2982235
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
$15.22M
Comparable Approach
Comparable
$29.78M
Blend (final)
Blend
$21.81M
Owner & transaction history
Lv S Milpitas LLC · 4 yrs held
Lv S Milpitas LLC
since 2021
Last sale
$24.6M
6 recorded transactions
Zoning & alternative use
M2 · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$35.2M
+93.0%
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
$23,700,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,485,000
6.5%
$15,220,000
7%
$14,130,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$18,225,000
Current use
OFFICE BUILDING
$35,180,000
Change: +93% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$24,770,000
Change: +36% · Conversion: Difficult
WAREHOUSE, STORAGE
$21,070,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$21.81M
Range $19.63M – $23.99M · ±10% · vs last sale $24.55M (Dec 1 2021)
Last sale anchor
$24.55M
Dec 1 2021
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
$368 / 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
$26,061,000
Assessed 2023
Previous assessed
$25,550,000
+2.0% YoY
Assessed land
$15,952,800
Assessed improvement
$10,108,200
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
1984
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Units
1
Total area
59,264 SF
Lot
3.78 ac (164,656 SF)
Zoning code
M2
APN
086-42-029
UPID
US09-2982235
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
OFFICE BUILDING
Est. value
$35.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.8M
WAREHOUSE, STORAGE
Est. value
$21.1M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
1984
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Units
1
Lot
3.78 ac
Current owner
From public records · entity-resolved
Lv S Milpitas LLC
Entity
Mailing address
2390 EL CAMINO REAL STE #210, PALO ALTO, CA 94306-1437
Ownership since
2021
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
Dec 1, 2021
$24,550,000
Lv S Milpitas LLC
Navid Kefayat
Grant Deed
$15,957,000 · Jpmorgan Chase Bank NA
Dec 7, 2020
—
Navid,bypass Trust
Navid Bagher & Kefayat Trust
Quit Claim Deed
related
—
Sep 25, 2013
—
Navid,bagher & Kefayat Trust
Navid,bagher
Quit Claim Deed
related
—
Jul 8, 2004
—
Navid,tr
Hcp 611 Milpitas LLC
Grant Deed
related
—
Jul 3, 2003
—
Hcp 611 Milpitas LLC
Limar Realty Corp #7
Grant Deed
related
—
Jun 26, 1998
—
Limar Realty Corp #97
Prudential Insurance Of Americ
Grant Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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