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, 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
$1,700,000
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
- 18 hours |
- 36 |
- 2 |
Zillow last checked: 7 hours ago
Listing updated: March 20, 2026 at 08:12am
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
Price history
| Date | Event | Price |
|---|---|---|
| 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
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
BuyAbility℠ payment
Estimated monthly payment
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.
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Neighborhood: 95035
Nearby schools
GreatSchools rating
- 4/10Robert Randall Elementary SchoolGrades: K-6Distance: 0.2 mi
- 9/10Rancho Milpitas Middle SchoolGrades: 7-8Distance: 0.8 mi
- 9/10Milpitas High SchoolGrades: 9-12Distance: 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.
Local experts in 95035
- California
- Santa Clara County
- Milpitas
- 95035
- 375 Dempsey Rd





