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859-895 E. Los Angeles Avenue
Simi Valley, CA 93065

Price: $2,050,000 Price/SF: $243
Bldg SF: 8,445 SF Pro Forma CAP Rate: 7.62%
Land SF: 30,409 SF Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

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


Austin Sreden
(818) 212-2805
austin.sreden@marcusmillichap.com
License # 02023489

Address: 859-895 E. Los Angeles Avenue, Simi Valley, CA 93065
Price: $2,050,000
Bldg SF: 8,445 SF
Land SF: 30,409 SF
ProForma CAP Rate: 7.62%
Price/SF: $243
Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

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


Austin Sreden
(818) 212-2805
austin.sreden@marcusmillichap.com
License # 02023489

Investment Highlights

EXCELLENT SIMI VALLEY, CA LOCATION

 

• Ideally located between Third Street and Fourth along Los Angeles Avenue

• Los Angeles Avenue is a main retail thoroughfare through Simi Valley

• The immediate area offers a plethora of local and national retailers, a wide variety of dining options

• Surrounded by a densely populated residential community

MULTI-TENANT STRIP CENTER WITH AMULTITUDE OF OPTIONS

 

• 33% current occupancy

• Short term leases allow for a unique value-add or owner-user opportunity

• Current rents are below market

• 48 parking spaces in the rear of the property

STRONG ASSET FUNDAMENTALS CREATE VALUE

 

• Excellent visibility and frontage (194 feet) along a main east-west thoroughfare through Simi Valley

• Medical use currently at the property

• Daily traffic counts exceeding 30,000 vehicles per year

• Walk Score of 81/100

STRONG IMMEDIATE SUB-MARKET

 

• Average household income north of $100,000 with a one-mile radius of the subject property

• Median income north of $85,000 within one mile of the subject property

• Over 80,000 people within three miles and over 125,000 people  within five miles of the subject property

• Significant growth has occurred in the immediate submarket over the past nine years