16 Corning Avenue, Milpitas, CA 95035
  • MLS#: ML82003329 ( )
  • Street Address: 16 Corning Avenue
  • Viewed: 4
  • Price: $3,995,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1978
  • Bldg sqft: 0
  • Days On Market: 28
  • Additional Information
  • County: SANTA CLARA
  • City: Milpitas
  • Zipcode: 95035
  • Provided by: NextHome Axis Realty
  • Contact: Melinda Melinda
  • California Regional MLS IDX
  • DMCA Notice
  • 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.
Property Location and Similar Properties
Request More Information
  • All fields are required.
Contact Patrick Adams
Contacting Patrick Adams
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
Features
Building Area Total
  1. 20939.00
Cooling
  1. Central Air
Heating
  1. Central
Otherexpense
  1. 1765.00
Otherincome1
  1. 0.00
Parcel Number
  1. 08313001
Professionalmanagementexpense
  1. 19136.00
Roof
  1. Flat
  2. Other
Totalexpenses
  1. 208445.00
Trash Expense
  1. 5280.00
Water Source
  1. Public
Year Built
  1. 1978
Year Built Source
  1. Assessor
Zoning
  1. C2S