Rare development opportunity in the heart of Silicon Valley. This strategically located parcel in Milpitas is zoned NCMU-3 (Neighborhood Commercial Mixed-Use), offering exceptional flexibility for a variety of potential uses (buyer to verify with the City of Milpitas). Possible development options include residential projects such as townhomes, condominiums, apartments, or multi-family housing, as well as commercial retail, office, or mixed-use configurations with ground-floor commercial and residential units above. Ideally situated near major transportation corridors including I-880, I-680, and Highway 237, and with convenient access to BART and VTA transit, the property benefits from strong regional connectivity. The surrounding area is supported by a robust local economy, proximity to major Silicon Valley employers, and continued growth and investment. With strong housing demand and long-term appreciation potential, this property presents a compelling opportunity for developers, investors, and builders seeking a well-located site in a high demand market.
Lot/land
$1,599,000
375 Dempsey Rd, Milpitas, CA 95035
--beds
--baths
0.73Acres
Residential Development Land, Unimproved Land
Built in ----
0.73 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 30 days |
- 161 |
- 6 |
Zillow last checked:
Listing updated:
Listed by:
Christina Khosrowabadi 01820250 408-318-4863,
Christie's International Real Estate Sereno 408-335-1400
Source: MLSListings Inc,MLS#: ML82039657
Facts & features
Property
Features
- Fencing: Chain Link
Lot
- Size: 0.73 Acres
- Features: None
Details
- Additional structures: None
- Parcel number: 08801002
- Zoning: CO
- Special conditions: Standard
Community & HOA
Location
- Region: Milpitas
Financial & listing details
- Tax assessed value: $784,762
- Annual tax amount: $9,344
- Date on market: 3/20/2026
- Listing agreement: ExclusiveRightToSell
Estimated market value
Not available
Estimated sales range
Not available
$3,260/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/14/2026 | Listed for sale | $1,599,000-5.9% |
Source: | ||
| 4/3/2026 | Listing removed | $1,700,000 |
Source: | ||
| 3/20/2026 | Listed for sale | $1,700,000+134.5% |
Source: | ||
| 2/2/2021 | Sold | $725,000+14.7% |
Source: Public Record Report a problem | ||
| 8/8/2018 | Sold | $632,000-20.5% |
Source: Public Record Report a problem | ||
| 9/22/2000 | Sold | $795,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,344 -19% | $784,762 +2% |
| 2024 | $11,533 +20.7% | $769,375 +2% |
| 2023 | $9,556 +0.6% | $754,290 +2% |
| 2022 | $9,503 -5.7% | $739,500 +19.6% |
| 2021 | $10,073 +24.9% | $618,340 +1% |
| 2020 | $8,067 | $612,000 -53.5% |
| 2019 | $8,067 -57.5% | $1,317,033 +2% |
| 2018 | $18,988 | $1,291,209 +2% |
| 2017 | $18,988 +23.7% | $1,265,892 +2% |
| 2016 | $15,353 +9.1% | $1,241,071 +1.5% |
| 2015 | $14,067 -9.3% | $1,222,429 +2% |
| 2014 | $15,517 | $1,198,484 +2.5% |
| 2012 | -- | $1,169,675 +2% |
| 2011 | -- | $1,146,741 +0.8% |
| 2010 | -- | $1,138,171 -0.2% |
| 2009 | -- | $1,140,875 +2% |
| 2008 | -- | $1,118,505 |
Find assessor info on the county website
Monthly payment
Estimated monthly payment$1,822
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 95035
Nearby schools
GreatSchools rating
- 5/10Robert Randall Elementary SchoolGrades: K-8Distance: 0.2 mi
- 9/10Milpitas High SchoolGrades: 9-12Distance: 1.8 mi
- 9/10Rancho Milpitas Middle SchoolGrades: 7-8Distance: 0.8 mi
Schools provided by the listing agent
- District: MilpitasUnified
Source: MLSListings Inc. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
Local buyer's agents are ready to help
- California
- Santa Clara County
- Milpitas
- 95035
- 375 Dempsey Rd





