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1501 E. Thousand Oaks Boulevard
Thousand Oaks, CA 91362

Price: $3,450,000 Zoning: Commercial
Bldg SF: 9,520 SF Price/SF (Building): $362
Land SF: 28,495 SF Price SF (Land) $454
Pro-forma Cap Rate: 6.62% Pro-forma Rent/SF: $2.00
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
b.michaels@marcusmillichap.com
License # 01434685

Price: $3,450,000
Bldg SF: 9,520 SF
Land SF: 28,495 SF
Year Built: 2000
Pro Forma CAP Rate: 6.62%
Price/SF (Building): $362
Price/SF (Land): $121
Property Type: Commercial
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
b.michaels@marcusmillichap.com
License # 01434685

Investment Highlights

Excellent Thousand Oaks Location along Thousand Oaks Boulevard

  • Ideally located just North of Erbes Road along prestigious Thousand Oaks Boulevard
  • 277 feet of linear frontage with excellent visibility and access
  • Amenity rich submarket with multiple restaurants, retailers, office space, and hotels in the immediate area
  • Within close proximity to the 101 Ventura Freeway & the Moorpark 23 Freeway allowing for easy freeway access
  • Significant development in the immediate area creates a unique value-add opportunity in a high-demand growing submarket

Well Located Strip Center with Significant Upgrades and Improvements

  • 9,520 square foot strip center ideally situated on 28,495 square feet of land zoned
  • Complete renovation enhances the positive business environment
  • Memorable smooth stucco / stone façade caters to the local and national tenants in the immediate area
  • Plentiful parking totaling 30 parking spaces in the front of the property
  • High daily traffic counts of 28,036 vehicles per day
  • Excellent ingress and egress

Value-Add Opportunity

  • 3,500 square foot vacancy combined with 6,020 square foot space that is occupied by the seller creates numerous options for an Owner-User buyer looking to occupy a portion or all of the building or an investor looking to reposition the center immediately
  • Unique value-add opportunity with a multitude of options
  • Potential development opportunity utilizing the Thousand Oaks Specific Plan, which promotes mixed-use development and a pedestrian friendly environment
  • Strong rental pocket with significant growth projections

Affluent Ventura County Sub-Market

  • Average household income over $103,000
  • Over 11,000 households within five miles. 22% of households have an average income north of $200,000
  • Thousand Oaks Specific Plan promotes development along Thousand Oaks Boulevard
  • Multiple residential units slated for construction in the immediate area creating significant growth opportunity
  • Close proximity to Amgen, a major Ventura County employer