13
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$3,995,000
Est. payment /mo
0.68 Acres Lot
New
16 Corning AVE Milpitas, CA 95035
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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
Listed by Melinda Collins • NextHome Axis Realty
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