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16 Corning Ave
For Sale $3,995,000
$3,995,000
- Units
- Unknown Sq Ft
- 29,621 Sq Ft
- Unknown Cap Rate
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.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,995,000 |
| Property Type | Other |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 50 spots |
| Year Built | 1978 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 08313001 |
| MLS # | ML82003329 |
| Property ID | 321704886 |
| Lot Sqft | 29,621 |
| Zoning | C2S |
| Days on Market | 283 |
| Original List Price | $3,995,000 |
| Date Updated | December 03, 2025 |
| Date Created | April 21, 2025 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Melinda Collins an agent of . Lic #01178494
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of December 03, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
REAL ESTATE AGENT