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Listed by Melinda Collins • NextHome Axis Realty
$ 3,995,000
Est. payment /mo
Active
16 Corning AVE Milpitas, CA 95035
20,939 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Property
Listing Status Active
Purchase Type For Sale
Square Footage 20,939 sqft
Price per Sqft $190
MLS Listing ID ML82003329
Year Built 1978
Lot Size 0.680 Acres
Property Sub-Type Commercial Property
Source MLSListings, Inc.
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 Milpitas
Zoning C2S
Interior
Heating Central Forced Air
Cooling Central AC
Exterior
Parking Features Common Parking Area
Garage Spaces 50.0
Utilities Available Public Utilities
Roof Type Flat / Low Pitch,Other
Building
Foundation Reinforced Concrete
Sewer Sewer - Public
Water Public
Others
Tax ID 083-13-001
Special Listing Condition Not Applicable
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