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Listed by Melinda Collins • NextHome Axis Realty
$3,995,000
Est. payment /mo
20,939 SqFt
Active
16 Corning Avenue Milpitas, CA 95035
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Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 20,939 sqft
Price per Sqft $190
MLS Listing ID ML82003329
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1978
Lot Size 0.680 Acres
Property Sub-Type Comm Ind For Sale
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
Interior
Fireplace No
Building
Water Public
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