New search
Property profile & analytics
OFF-MARKET
Estimated value
$18,530,000
Community centers
749 Calaveras Blvd, Milpitas, CA 95035-5435
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2076169
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1981
Construction
TILT-UP CONCRETE
Total area
74,960 SF
Lot
6.91 ac (300,999 SF)
Zoning code
MI
APN
028-12-004
UPID
US10-2076169
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
$21.47M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.53M
Owner & transaction history
Shapell Calaveras LLC · 12 yrs held
Shapell Calaveras LLC
since 2014
6 recorded transactions
Zoning & alternative use
MI · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$23,255,000
6.5%
$21,465,000
7%
$19,930,000
Blend value · Realmo final
$18.53M
Range $16.68M – $20.38M · ±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
$247 / 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
$170,880
Tax year 2024
Assessed value
$14,421,915
Assessed 2024
Previous assessed
$14,421,915
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$11,573,590
Assessed improvement
$2,848,325
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1981
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
74,960 SF
Lot
6.91 ac (300,999 SF)
Zoning code
MI
APN
028-12-004
UPID
US10-2076169
Jurisdiction
SANTA CLARA
Zoning & alternative use
MI · Milpitas, CA
Zoning MI · permitted uses
MI · 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
1981
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
6.91 ac
Current owner
From public records · entity-resolved
Shapell Calaveras LLC
Entity
Mailing address
1990 S BUNDY DR STE #500, LOS ANGELES, CA 90025-5245
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
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
Sep 13, 2021
—
Milpitas Town Center 2008 LP
—
Deed
related
—
Feb 13, 2014
$12,000,000
Shapell Calaveras LLC
Faec Holdings 418840 LLC
Grant Deed
—
Sep 13, 2013
$12,000,000
Faec Holdings 418840 LLC
Macerich Milpitas Holdings LLC
Grant Deed
—
Oct 15, 2008
—
Mervyns LLC
—
Deed Of Trust
related
$465,000,000 · Wachovia Capital Finance Corp
Jan 9, 2008
$14,449,000
Macerich Milpitas Holdings LLC
Mds Realty II LLC
Grant Deed
—
Oct 13, 2004
—
Mds Realty II LLC
Mervyns LLC
Grant Deed
$675,000,000 · Greenwich Capital Fin'l INC
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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