16 Corning AVE new Save Request In-Person Tour Request Virtual Tour
Milpitas,CA 95035
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 the Heart of Milpitas! Presenting a rare opportunity to acquire a well-located, income-producing, value-add office asset in the thriving city of Milpitas. With 89% current occupancy and 32 flexible office suites, 16 Corning Avenue offers immediate cash flow and long-term upside through strategic improvements and lease optimization. Property Highlights: 20,939 SF two-story office building on a prominent corner lot; 32 suites occupied by a diverse mix of professional and small business tenants; Gross Scheduled Income: $34,794/month ($417,525 annually). Current Occupancy: 89%, Ample on-site parking. Prime location minutes from I-880, I-680, BART, VTA, and major retail centers including the Great Mall Value-Add Potential Opportunity to upgrade HVAC systems, electrical infrastructure, and water efficiency for reduced operating costs. Potential to implement green building features to attract eco-conscious tenants and increase overall asset value. Lease up remaining vacancies and reposition underperforming suites to market rates. One of the Bay Areas most strategically located and transit-connected markets. Also ideal for an owner-user looking to secure space in one of the regions 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