33
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$1,500,000
Est. payment /mo
0.35 Acres Lot
Price Dropped by $180K
7280 Marylinn DR Milpitas, CA 95035
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UPDATED:
02/03/2025 06:00 PM
Key Details
Property Type Vacant Land, Commercial
Sub Type Other Commercial Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81925086
Lot Size 0.347 Acres
Property Description
Subject to city planner approval, the lot is good for 5-9 units but conservatively will likely be subdivided into 4-5 mixed-use units due to clearance limitations, with a frontage of 281.42 ft. Buildable area is one story (4435 SF per old building plan in 90'), now w building floor ratio almost 3x, subject to meeting all requirements for setbacks, parking, open space, and building codes. Current R3B zoning allows for a 3-story, 4+ units, with a maximum of 11,330 SF. Single-family homes have sold for $828/SF, and condos for $667-1,000/SF, with sellers leaving lots of profit on the table. The property offers a mixed-use opportunity for potential buyers, with the option to use the 1st floor as a versatile commercial space adaptable to various needs such as medical clinics, retail stores, showrooms, classrooms, restaurants, offices, OEMs/branches/sales offices. The 2nd and 3rd floors are for residential use, offering the potential to create either a large family home or another 3-4 separate condos, at the buyer's preference. The flexible layout of the building presents multiple opportunities, such as a Michelin Stars restaurant with the 1st and 2nd floors for the restaurant and kitchen, and the 3rd floor for the chef's residence, also with an herb or vegetable garden in one place.
Location
State CA
County Santa Clara
Area Milpitas
Zoning R3B
Exterior
Fence None
Utilities Available Electricity - Available at Street, Gas - Available at Street, Gas - LESS than 500 feet away
Building
Lot Description Grade - Level
Sewer Other
Water None
Others
Tax ID 022-07-007
Horse Property No
Special Listing Condition Not Applicable
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Listed by Jennifer Li • Universal Network Group