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31225 La Baya Drive
Westlake Village, CA 91362

Price: $9,750,000 Zoning: WVM1
Bldg SF: 46,412 SF Price/SF: $210
Land SF: 70,305 SF Occupancy: 48%
Year Built:  1980 Property Type: Office
Click to View Offering MemorandumClick to Print Offering Memorandum

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

Address: 31225 La Baya Drive, Westlake Village, CA 91362
Price: $9,750,000
Bldg SF: 46,412 SF
Land SF: 70,305 SF
Price/SF: $210
Property Type: Office
Click to View Offering MemorandumClick to Print Offering Memorandum

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

Investment Highlights

Excellent Westlake Village, CA Location

 

  • Ideally located in the upscale, affluent Conejo Valley sub-market of Westlake Village, CA

 

  • Close proximity to the Interstate 101 Ventura Freeway

 

  • Amenity rich sub-market within close proximity to world-class hotels, restaurants, retailers, hospitals, and banks

 

  • Average household income north of $150,000 with a median income of $134,411

 

Ideal Value-Add or Owner-User Opportunity

 

  • The building has undergone significant improvements and renovations creating a unique value-add opportunity with minimal capital requirements

 

  • 47% current occupancy

 

  • Current rents are below market rents

 

  •  Current occupancy in conjunction with lease flexibility create an ideal Owner-User opportunity

 

  • Priced significantly below replacement costs

 

North Business Park Specific Plan set to Be Completed will Create Significant Growth in the Immediate Area

 

  • Centrally located within the proposed boundaries of the North Business Park Specific Plan

 

  • North Business Park Plan creates incentive for property owners to re-develop by providing economic incentives

 

  • Potential change of use and increase in FAR will create significant growth potential

 

  • Development concepts have been approved by the city and the environmental review is largely completed

 

Strong Immediate Demographics Creates a Business-Friendly Environment

  • Approximately 850 commercial and light industrial business firms are located in the immediate area
  • Westlake Village is a well-managed city home to several large companies
  • Average household income over $151,000 within one-mile
  • Plethora of multi-million dollar homes in the immediate area with median home values north of $800,000