41 Serra Way Milpitas, CA 95035
Estimated payment $64,770/month
Highlights
- 1.98 Acre Lot
- Guest Parking
- Forced Air Zoned Cooling and Heating System
- Anthony Spangler Elementary School Rated A
About This Home
Exceptional Investment Opportunity 41 & 61 Serra Way, Milpitas, CA Offering 3 parcels totalling 1.98 acres across two adjacent properties in the highly-visible Serra Way retail/office corridor. The two-story building at 61 Serra Way features ground-floor retail and second-floor professional offices with elevator access and fire-sprinklered construction. The adjoining address at 41 Serra Way further anchors the asset within the plaza, offering strong tenant diversity and a solid retail draw. Strategically located in Milpitas, just minutes from U.S. Routes 880 & 237, the site benefits from heavy traffic counts, high daytime population, and strong visibility. The offering presents an ideal entry or expansion acquisition for investors seeking an established asset with value enhancement potential through leasing rollout or repositioning. Currently 95% Tenant Occupancy Combined ± 86,074.56 SQFT of mixed-use retail + professional office space. Existing infrastructure supports high-quality tenants (elevator, ADA upgrades, sprinklers). Prime Bay Area submarket with long-term demand drivers from tech-driven employment and retail services growth. Don't miss this rare Milpitas investment offering in a market with robust fundamentals.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,263
Year Built
- 1999
Home Design
- 18,164 Sq Ft Home
- Wood Frame Construction
- Tile Roof
Home Security
- Alarm System
- Fire and Smoke Detector
Parking
- 122 Parking Spaces
- Guest Parking
- Uncovered Parking
- Unassigned Parking
Additional Features
- 1.98 Acre Lot
- Forced Air Zoned Cooling and Heating System
Listing and Financial Details
- 5 Year Lease Term
Community Details
Overview
- 18,164 Sq Ft Building
Building Details
- 9 Leased Units
- Gardener Expense $11,576
- Insurance Expense $13,808
- Maintenance Expense $36,344
- Manager Expense $70,579
- Other Expense $186,977
- Utility Expense $53,416
- Trash Expense $25,995
- Operating Expense $515,488
- Gross Income $773,050
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $24,263 | $2,089,049 | $1,148,977 | $940,072 |
| 2024 | $24,263 | $2,048,089 | $1,126,449 | $921,640 |
| 2023 | $24,183 | $2,007,931 | $1,104,362 | $903,569 |
| 2022 | $24,096 | $1,968,560 | $1,082,708 | $885,852 |
| 2021 | $23,741 | $1,929,962 | $1,061,479 | $868,483 |
| 2020 | $23,324 | $1,910,173 | $1,050,595 | $859,578 |
| 2019 | $23,065 | $1,872,720 | $1,029,996 | $842,724 |
| 2018 | $21,906 | $1,836,000 | $1,009,800 | $826,200 |
| 2017 | $21,622 | $1,800,000 | $990,000 | $810,000 |
| 2016 | $13,413 | $1,114,752 | $454,018 | $660,734 |
| 2015 | $13,275 | $1,098,009 | $447,199 | $650,810 |
| 2014 | $12,944 | $1,076,501 | $438,439 | $638,062 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/03/2025 11/03/25 | For Sale | $11,988,000 | -- | $660 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $8,800,000 | First American Title Company | |
| Grant Deed | -- | Chicago Title Co | |
| Grant Deed | $1,000,000 | Santa Clara Land Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,500,000 | Construction |
Source: MLSListings
MLS Number: ML82026626
APN: 022-24-041
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