CA > Milpitas
Milpitas, CA 95035,16 Corning AVE
Milpitas, CA 95035,16 Corning AVE
Milpitas, CA 95035,16 Corning AVE
Additional details
Paul Ward

Paul Ward

+1(805) 479-5004
$3,995,000
Est. payment /mo
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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

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

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CRMLS – RECore
Listed by Melinda Collins NextHome Axis Realty
Paul Ward
Paul Ward

Broker Associate | License ID: 01354001

+1(805) 479-5004 | paul@homeandranchteam.com

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