Property profile

990 Ames Ave Milpitas, CA 95035

OFF-MARKET
Industrial properties
Property ID
US09-2293115
22,000 SF 2 ac lot Built 1993
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 22,000-square-foot industrial warehouse, situated on a two-acre lot in Milpitas, California, presents a compelling investment opportunity. Built in 1993, the property boasts a desirable M2 Heavy Industrial District zoning (buyer to independently verify), allowing for a wide range of uses. The warehouse features 4 ground-level loading doors in the main building and an additional 2 in a separate rear building, ensuring efficient loading and unloading. Inside, discover approximately 4,000 square feet of office space, complete with reception, bullpen, multiple private offices, and a breakroom. A significant bonus is the 4,000-square-foot unfinished second-story mezzanine area, offering substantial potential for expansion or additional storage. The property also includes ample rear yard space ideal for staging and maneuvering. The high ceilings, ranging from 18 to 22 feet (buyer to independently verify), provide ample vertical space. The electrical service is 1200 amps, 277/480 volts (buyer to independently verify). Its strategic location in Santa Clara County offers easy access to major freeways, including I-680 and I-880, and San Jose International Airport, making it an ideal location for manufacturing or distribution. The property's APN is 086-31-050. The asking price is $7,700,000. Buyers are advised to independently verify all information.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1993
Construction TILT-UP CONCRETE
Total area 22,000 SF
Lot 2 ac (87,120 SF)
Zoning code M2
APN 086-31-050
UPID US09-2293115

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Renovation Specialist General Contractor
  • Marketing & Advertising
  • Industrial Manufacturer Production Facility

Location

990 Ames Ave Milpitas, CA 95035-6303
Milpitas metro Census 504509 SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$5.65M
Comparable Approach Comparable
$4.38M
Blend (final) Blend
$6.36M

Owner & transaction history

since 2024
Last sale
$7.7M
7 recorded transactions
2024
$7.7M
2006
Price N/A
2004
Price N/A
1994
Price N/A
1994
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

M2 · Milpitas, CA
Zoning description

B. Heavy Industrial (M2) Zone. The Heavy Industrial (M2) Zone is reserved for the construction, use, and occupancy of buildings and facilities for office, research, general manufacturing, warehousing and distribution, an…

General category INDUSTRIAL
Top alternative use upside
Apartment house (5+ units) $9.2M +35.9%
Warehouse, storage $7.8M +15.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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