808 & 872
New los angeles Avenue
PRICE
$47,500,000
BUILDING SIZE
165,376 SF
LOT SIZE
13.32 ACRES
MOORPARK, CA 93021
CAP RATE
PRICE/SF (BLDG)
PRICE/SF
(LAND)
5.0%
$287
$82
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 808 & 872 New Los Angeles Ave, a trophy, newly remodeled 165,376 SF market anchored and Target center situated on 580,219 SF (13.32 acre) with unmatched frontage and excellent freeway visibility, ideally located just off the California State Route 118 Ronald Reagan Freeway, in the affluent Ventura County submarket of Moorpark, CA.
Moorpark Marketplace is Moorpark’s premier commercial destination, currently 100% occupied, with a seasoned and dynamic mix of regional and national tenants that cater to the needs of the surrounding neighborhoods while also attracting regional and commuter traffic from the nearby communities of Thousand Oaks, Simi Valley, and Camarillo via the 23 & 118 Freeways. The 165,376 square foot center is co-anchored by national retailer Kohl’s, Target (NAP), and Smart & Final Extra (NAP) with notable national and regional junior anchors TJ Maxx, Michaels, and Famous Footwear.
Moorpark Marketplace is ideally located in the high barrier to entry and commercially supply constrained Moorpark submarket. As a result, the center is well positioned with a seasoned and stable tenancy boasting an average occupancy over the last 18 years of operation at or above 98%. The average length of tenancy is in excess of 13.6 years with only 4.9% of the current tenancy at the center for less than 10 years.
The Center benefits from exceptional visibility and frontage along both the 23 Freeway and New Los Angeles Ave. Moorpark Marketplace has almost 900 linear feet of frontage along the 23 Freeway, with traffic counts of 72,000 vehicles per day, dedicated Freeway signage, and approximately 1,350 linear feet of frontage along New Los Angeles Ave, with traffic counts of 36,500 vehicles per day.