Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    615 Main St Milpitas, CA 95035-8521

    • Office buildings
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1524321
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • John C. Brady II, Ph.D. / Physician / Medical Clinic
    • Farmers Insurance - Jim Jarnagin / Insurance Agency
    • Chiropractic Wellness Clinic / Alternative Medicine Practice
    • Sung S. Kim, DC / Alternative Medicine Practice
    • san francisco bay therapeutic hemp care / Medical Clinic

    Property Details for 615 Main St

    Lot size
    0.28 lot acres
    Zone code
    C0S
    Property type
    Office buildings
    APN
    083-22-003
    APU
    8322003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Milpitas
    County
    Santa Clara
    State
    California
    Longitude
    -121.905
    Latitude
    37.4215
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,946
    $139,232
    $254,035
    $393,267
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.57 Acres

      Serra Way

      OFFICE BUILDING • 0.57 Acres
      Serra Way, Milpitas, CA 95035
      View Details
    • Value Estimation
      $1,300,000
      2,846 SF

      995 Montague Expy Ste, Unit 211

      OFFICE BUILDING • 2,846 SF
      995 Montague Expy Ste, Milpitas, CA 95035-6885
      View Details
    • Value Estimation
      $2,415,000
      7,035 SF

      271 Calaveras Blvd

      OFFICE BUILDING • 7,035 SF
      271 Calaveras Blvd, Milpitas, CA 95035
      View Details
    • Value Estimation
      $9,955,000
      21,600 SF

      538 Vly Way

      OFFICE BUILDING • 21,600 SF
      538 Vly Way, Milpitas, CA 95035-4106
      View Details
    • Value Estimation
      $5,450,000
      21,200 SF

      602 Vly Way

      OFFICE BUILDING • 21,200 SF
      602 Vly Way, Milpitas, CA 95035-4138
      View Details
    • Value Estimation
      $5,830,000
      15,681 SF

      740 Calaveras Blvd

      OFFICE BUILDING • 15,681 SF
      740 Calaveras Blvd, Milpitas, CA 95035-5439
      View Details

    Similar Nearby for Sale

    • $3,995,000
      20,939 SF

      Milpitas Office Building Investment Opportunity

      Two-story office building with value-add potential in Milpitas.
      Corning Ave, Milpitas, CA 95035
      View Details
    • Contact for pricing
      19,602 SF

      Milpitas Land For Sale

      19,602 SF lot in the heart of Silicon Valley.
      7280 Marylinn Dr, Milpitas, CA 95035
      View Details
    • New
      Contact for pricing
      1,700 SF

      26.5-Acre Estate Site with Views

      Rare Silicon Valley parcel with panoramic views and boundless possibilities.
      3463 Calaveras Rd, Milpitas, CA 95035
      View Details
    • Contact for pricing

      Industrial Land Near Milpitas BART

      Approximately 1 acre of industrial land near BART station.
      1000 Yosemite Dr, Milpitas, CA 95035
      View Details
    • $6,300,000
      Pending

      Land For Sale Milpitas

      Land available for sale in Milpitas, California.
      1000 Jacklin Rd, Milpitas, CA 95035
      View Details
    • Contact for pricing
      2,640 SF

      Milpitas Industrial Condominium For Sale

      Two-unit industrial condominium totaling 2,640 SF in Milpitas, CA.
      527 Sinclair Frontage Rd, Milpitas, CA 95035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,078 SF

      Milpitas Flex Space Available

      Flex space featuring office and warehouse components in Milpitas.
      330-396 S Abbott Ave, Milpitas, CA 95035
      View Details
    • Contact for pricing
      1,017 SF

      Milpitas Office Space Available

      Office space for rent with highway access and expansion potential.
      1603-1629 S Main St, Milpitas, CA 95035
      View Details
    • $1.75 SF/Yr

      Milpitas Office Space Available

      Office space with lab, clean room, and ample power.
      670 Mccarthy Blvd, Milpitas, CA 95035
      View Details
    • Contact for pricing
      2,185 SF

      Milpitas Office Space Available

      Well-maintained office center with excellent highway access and ample parking.
      960 Jacklin Rd, Milpitas, CA 95035
      View Details
    • Contact for pricing
      1,675 SF

      Milpitas Office and R&D Space

      Office and R&D units available in Milpitas, California.
      1759 S Main St, Milpitas, CA 95035
      View Details
    • Contact for pricing
      1,281 SF

      Milpitas Office Space For Rent

      Office space available in Milpitas with highway access.
      1633-1649 S Main St, Milpitas, CA 95035
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Main St
    Milpitas, CA 95035-8521
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!