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Executive Summary

McCarthy Ranch Shopping Center
128-158 Ranch Dr
A 100% leased, ±84,735 square foot multi-tenant retail center located in the heart of Milpitas, CA. The Property is strategically located within the highly trafficked McCarthy Ranch retail corridor, just off the intersection of Interstate 880 and Highway 237, and benefits from its position within a dominant retail hub comprising over 400,000 square feet of surrounding high-traffic retail.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
75,803 SF
Building Class
C
Year Built
1996
Price
$25,340,000
Price Per SF
$334.29
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
5 Exterior
Building FAR
0.21
Lot Size
8.47 AC
Zoning
C2
Parking
360 Spaces (4.75 Spaces per 1,000 SF Leased)
Frontage
965’ on Ranch Dr

Amenities

  • Bus Line
  • Dedicated Turn Lane
  • Food Court
  • Freeway Visibility
  • Pylon Sign
  • Signage
  • Signalized Intersection

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Accommodation and Food Services
  • -
  • -
  • -
  • Jan 0000

HL Peninsula operates a group of Cantonese restaurants in California’s Bay Area, specializing in dim sum, seafood, and banquet services. The company is part of H.L. Peninsula Catering Group, founded by Chef Li Yongzhou, which began its operations in China before expanding internationally. The brand emphasizes traditional Cantonese cuisine while incorporating modern facilities for large gatherings.

  • Arts, Entertainment, and Recreation
  • -
  • -
  • Lorem Ipsum
  • Jan 0000

The Picklr began in 2021 after Jorge Barragan and Austin Wood set out to build dedicated indoor pickleball space following long waits for court time at crowded recreation centers. The company operates indoor clubs built around memberships, court reservations, leagues, tournaments, clinics, and junior programming, while also supporting a franchise model for expansion. The Picklr has grown into a franchise system with clubs sold across North America and international markets, reflecting a business centered on indoor play and year-round access to pickleball.

  • Arts, Entertainment, and Recreation
  • -
  • -
  • -
  • Jan 0000

Planet Fitness began in 1992 in Dover, New Hampshire, where the company started as a local gym before evolving into a broader fitness concept. The business built its model around a low-cost, non-intimidating environment known as the Judgement Free Zone, aimed at making gym use more accessible to casual and first-time exercisers. Today, Planet Fitness operates as a major franchisor and operator of fitness centers, with clubs across the United States and several other markets, and it supports members through club access, digital workouts, and app-based tools. The company offers cardio and strength equipment, membership tiers, and free fitness instruction through small-group training programs.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Accommodation and Food Services - - - Jan 0000
Arts, Entertainment, and Recreation - - Lorem Ipsum Jan 0000
Arts, Entertainment, and Recreation - - - Jan 0000
Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100

Nearby Major Retailers

The Little Gym
Starbucks
Romano's Macaroni Grill
L & L Hawaiian Barbecue
Loving Hut
Denny's
Charles Schwab
Bank of America
Bank of America Mortgage
99 Ranch Market

Property Taxes

Property Taxes

Parcel Number
022-54-009
Land Assessment
$6,026,249
Improvements Assessment
$13,192,607
Total Assessment
$19,218,856
  • Listing ID: 40942491

  • Date on Market: 6/16/2026

  • Last Updated:

  • Address: 120-158 Ranch Dr, Milpitas, CA 95035

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