May 19, 2025 - 🌻 Secure for only $ 1,198,500 Down! 31-Unit Service Commercial in Prime Milpitas!
🌻 Secure for only $1,198,500 Down! 31-Unit Service Commercial in Prime Milpitas!
16 Corning Ave | $3,995,000 | Available through NextHome Axis Realty
Step into a rare opportunity in one of Silicon Valley’s most supply-constrained office markets. This 31-unit multi-tenant commercial property is 89% leased and positioned for instant upside through lease restructuring and rent adjustments.
• Immediate Upside: ~$120K/year+ in rental potential
• Current Income: ~$30,744/month | Market Rents: ~$35,640/month
• Size: 17,867 SF Building | 0.68 Acre Lot | Zoned C2S (Service Commercial)
• Cap Rate: 5.6% Pro Forma | GRM: 16.2 → 11.5
• Units: Suite sizes from 250–1,600 SF
• Parking: 50 on-site spaces
Surrounded by major tech campuses, highways 680/880, and walkable to BART — this location offers unbeatable accessibility and tenant retention potential.
Ideal for investors seeking a stabilized income asset with flexible lease structures and long-term growth.
📲 DM or visit msluxey.com (Real Estate section) for full rent roll, flyers, and pro forma breakdowns.
🎯 Brokers and direct buyers welcome.
Disclaimer: All figures are estimates based on current data and market projections. Buyers should independently verify financials.
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Contact:
CHESCA MSLUXEY | DRE #02187076
MEGGIE COLLINS | DRE #02229230
📞 (424) 468-3669
📧 chesca@msluxey.com
🌐 msluxey.com — Real Estate section for details
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