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$1,599,000
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Property Description
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.
Full Property Details
Full Property Details for 375 Dempsey Rd
General
- Price: $1,599,000
- Status: Active
- Type: Development
- Source: RE_Infolink
- MLS ID: ML82039657
- Updated: 5/14/2026
- Added to Site: 81 day(s) ago
Additional Information
- Extras: Not Applicable
Location
- Area: Milpitas
- County: Santa Clara
Utilities
- Sewer: Sewer Available
- Water: Water Available at Street
- Utility Description: Electricity (Available at the Street)
Lot Features
- Minimum Lot Size: 31957
- Lot Size (Sq. Ft.): 31,957
- Development Status: Other
- Present Use: Vacant
- Zoning: CO
- Lot Description: None
- Fencing (Description): Chain Link
Listed by Christie's International Real Estate Sereno, Christina Khosrowabadi
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Schools
Schools serving 375 Dempsey Rd
School District:Milpitas Unified School District
| Name | Grades | Distance |
|---|---|---|
Robert Randall Elementary School 1300 Edsel Drive, Milpitas, CA 95035 | K-6 | 0.2 mi |
Rancho Milpitas Middle School 1915 Yellowstone Avenue, Milpitas, CA 95035 | 7-8 | 0.8 mi |
Milpitas High School 1285 Escuela Parkway, Milpitas, CA 95035 | 9-12 | 0.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 375 Dempsey Rd
Date
Details
Price
Change
Source
5/14/2026
Price Reduced
$1,599,000
-5.94%
MLS
3/20/2026
Listed
$1,700,000
134.48%
MLS
1/27/2021
Sold
$725,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 375 Dempsey Rd
Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,344
-19%
$784,762
2%
2024
$11,533
21%
$769,375
2%
2023
$9,556
1%
$754,290
2%
2022
$9,503
-6%
$739,500
20%
2021
$10,073
25%
$618,340
1%
2020
$8,067
9%
$612,000
-54%
2019
$7,379
-61%
$1,317,033
2%
2018
$18,988
24%
$1,291,209
2%
2017
$15,352
-8%
$1,265,892
2%
2016
$16,723
19%
$1,241,071
2%
2015
$14,067
-9%
$1,222,429
2%
2014
$15,517
12%
$1,198,484
—
2013
$13,832
—
$1,193,068
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 375 Dempsey Rd
375 Dempsey Rd, Milpitas, CA 95035 (MLS# ML82039657) is a Development property with a lot size of acres. 375 Dempsey Rd is currently listed for $1,599,000 and was received on March 20, 2026. Want to learn more about 375 Dempsey Rd? Do you have questions about finding other Development real estate for sale in Milpitas? You can browse all Milpitas real estate or contact a Coldwell Banker agent to request more information.

