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2311 Tapo Street
Simi Valley, CA 93063

Price: $7,500,000 CAP Rate: 6.84%
Bldg SF: 25,990 SF Price/SF: $289
Land SF: 103,557 SF Occupancy: 89%
Year Built:  1976 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


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


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

Price: $7,500,000
Bldg SF: 25,990 SF
Land SF: 103,557 SF
Year Built: 1976
Price/SF: $289
Occupancy: 89%
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


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


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

Investment Highlights

25,990 Square Foot Shopping Center Ideally Located in the Heart of Simi Valley, CA

 

  • Tapo Oaks Center is ideally located just South of the Southwest signalized corner of Tapo Street and Cochran Street
  • Tapo Street and Cochran Street are two main retail thoroughfares that run through Simi Valley
  • Directly across from Santa Susana Plaza, home to national tenants including JOANN Fabrics & Crafts, Walmart, Taco Bell, Auto Zone, and Subway
  • Shadow anchored by McDonald’s
  • Affluent submarket with an average household income upwards of $105,000 within a 1-mile radius
  • Excellent location within close proximity to high-end homes and commercial
  • Centralized location ideally located one block South of the Ronald Reagan 118 Freeway

 

Stable and Secure Income Stream From a Seasoned and Diverse Tenant Mix

 

  • 89% current occupancy – Upside through stabilization
  • Annual Rental Increases
  • Stable and secure tenant mix with NNN leases
  • 55% of the tenants have successfully operated at this location for over six years
  • Tenants exemplify strong historical operating history

 

Synergistic Mix of Tenants

 

  • Strong and diverse tenant mix provides for steady customer flow, exceptional tenant synergy, and excellent shopping
  • 36% of the current tenants are restaurants
  • Average suite size of 1,731 square feet

 

Affluent Submarket with Strong Underlying Demographics

 

  • Average income of $105,136 within one mile of the center
  • There are over 14,000 people within one mile of the center, over 79,000 people within three miles, and over 114,000 people within 5 miles
  • Median household income of $86,585 within one mile of the center
  • Over 26,000 households within three miles of the center