1. California
  2. Milpitas
  3. 16 Corning Avenue
$3,995,000

16 Corning Avenue, Milpitas, CA 95035

  • 20,939 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1978
  • Property Lot Size Icon0.68acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $191/sqft
  • Property List Date Icon Listed 1 month ago

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.

Listing Status:
Active
Date Added:
April 21, 2025 at 05:00AM
Listing Office:
NextHome Axis Realty : 408-854-0828
Listing Agent:
Melinda Collins : 408-854-0828
MLS ID:
ML82003329
  • A/C: Central Air
  • Heating: Central

This listing courtesy of Melinda Collins, NextHome Axis Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

A

Anthony Spangler Elementary School

140 N Abbott Ave, Milpitas, CA, 95035

Grades KG-6

0.60 miles away

R

Rancho Milpitas Middle School

1915 Yellowstone Ave, Milpitas, CA, 95035

Grades 7-8

1.90 miles away

C

Calaveras Hills

1331 E Calaveras Blvd, Milpitas, CA, 95035

Grades 9-12

1.55 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.