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7280 Marylinn Dr - 9 unit of residential Development 0.45 Acres of Commercial Land Offered at $1,200,000 in Milpitas, CA 95035

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INVESTMENT HIGHLIGHTS

  • Perfect - 4-5 units - Development project - Max. buildable: 11330 SF
  • Lots of street parking
  • Located in the heart of Silicone Valley

EXECUTIVE SUMMARY

• Located in the heart of Silicon Valley and within Milpitas Midtown Specific Plan (high priority)
• Next to Milpitas main Library and Valley Medical Center
• MAX 9 units(could be more than 10 units if low-income housing), 3-story, 4435 SF per story (per old plan)
• Just few minutes away from downtown, FWY 880/237/680
• Very convenient location: ~2 miles to Great Mall, Milpitas Transit Center, Trader’s Joe, Safeway, Smart & Final, Ranch 99, restaurants, Walmart, schools, trails, and parks
• Strong long-term economy: Milpitas is home to a strong economy, with a low unemployment rate and a high median income. The city is a major center for high-tech industry, and is home to many Fortune 500 companies.
• Diverse population: Milpitas is a diverse city, with a large Asian community. This diversity makes Milpitas a vibrant and exciting place to live and work.
• Excellent schools: Milpitas has a number of excellent schools, including public schools, private schools, and charter schools. This makes Milpitas a great place to raise a family.
• City new gateway specific plan allow any kind of high density residential housing, senior housing, low-income housing, rental condo units & etc

PROPERTY FACTS

Price $1,200,000
Sale Type Investment or Owner User
Sale Condition Build to Suit
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Office
  • Mixed Use
  • Multifamily
  • Apartment Units
  • Apartment Units - Condo
  • Apartment Units - Senior
  • Apartment Units - Subsidized
  • Convenience Store
  • Daycare Center
  • Distribution
  • Garden Center
  • Healthcare
  • Health Club
  • Medical
  • Restaurant
Total Lot Size 0.45 AC
Zoning MIXED USE - R3B - MIXED USE; In the high priority of Milpitas Midtown Plan and possible change zoning - next to R3/IND/office zones

1 LOT AVAILABLE

Lot 022-07-007

Price $1,200,000
Price Per AC $2,646,669.61
Lot Size 0.45 AC

Located in the heart of Silicon Valley and within Milpitas Gateway Specific Plan (high priority): https://www.milpitasmainstreet.org/

DESCRIPTION

• Located in the heart of Silicon Valley and within Milpitas Midtown Specific Plan (high priority) • Next to Milpitas main Library and Valley Medical Center • Lots of street parking • Possible to build 4 units, 3-story, Max. building in L shape up to ~11,330 SF • Possible professional clinic office (clinic will require 1 parking space for every 225 SF of tenant space) • Possible 1st floor retails, showroom, restaurants or OEM/branch/sales office and 2nd and 3rd floor are perfectly for big family or 3 individual condos at buyer’s preferred ratio for mixed use. • Possible for all kind of classrooms • Just minutes away from downtown, FWY 880/237/680 • Very convenient location: ~2 miles to Great Mall, Milpitas Transit Center, Trader’s Joe, Safeway, Smart & Final, Ranch 99, restaurants, Walmart, schools, trails, and parks • Strong long-term economy: Milpitas is home to a strong economy, with a low unemployment rate and a high median income. The city is a major center for high-tech industry, and is home to many Fortune 500 companies. • Diverse population: Milpitas is a diverse city, with a large Asian community. This diversity makes Milpitas a vibrant and exciting place to live and work. • Excellent schools: Milpitas has a number of excellent schools, including public schools, private schools, and charter schools. This makes Milpitas a great place to raise a family. • The first floor of the property offers a versatile space that can be used for a range of commercial purposes such as retail stores, showrooms, classrooms, restaurants, or offices for original equipment manufacturers (OEMs), branches, or sales offices. The second and third floors are ideally suited for residential use and can be configured as a large family home or three separate condominiums, depending on the buyer's preference for mixed use. The space can be used for various purposes, including beauty salons, nail shops, after-school classes, convenience stores, pizza shops for fast pickup and delivery, or kids karate classes, making it a versatile investment opportunity.

Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
022-07-007
Land Assessment
$322,866
Improvements Assessment
$0
Total Assessment
$322,866
  • Listing ID: 28270429

  • Date on Market: 4/19/2023

  • Last Updated:

  • Address: 7280 Marylinn Dr, Milpitas, CA 95035

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