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$ 3,995,000
Est. payment /mo
New
16 Corning AVE Milpitas, CA 95035
0.68 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82003329
HOA Y/N No
Year Built 1978
Annual Tax Amount $49,938
Lot Size 0.680 Acres
Property Description
Exceptional Investment or Owner-User Opportunity in Milpitas! Rare chance to acquire a strategically located, income-producing office property in thriving Milpitas. Immediate value-add potential with 12 leases due for amendmentsconvert lease terms from Gross to NNN and adjust rents to market rates to unlock instant equity. Property Highlights: * 20,939 SF two-story office building on prominent corner lot * 32 suites occupied by a diverse tenant mix of professionals and small businesses * Gross Scheduled Income: $34,717/month ($416,606 annually) * Current occupancy: 89% * Ample on-site parking * Prime location near I-880, I-680, BART, VTA, and major retail centers including the Great Mall ** Value-Add Opportunities ** * Upgrade HVAC, electrical systems, and improve water efficiency to reduce operating costs * Implement green building features to attract eco-conscious tenants * Lease vacant spaces and reposition underperforming suites at market rates * Ideal for investors seeking asset appreciation or owner-users looking to secure premium office space in one of the Bay Areas fastest-growing business hubs.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning C2S
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Roof Type Flat,Other
Total Parking Spaces 50
Building
Water Public
Others
Tax ID 08313001
Listed by Melinda Collins • NextHome Axis Realty