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2850 Johnson Drive
Ventura, CA 93003

Price: $3,100,000 Price/SF: $323
Bldg SF: 9,600 SF CAP Rate: 5.87%
Land SF: 43,560 SF Occupancy: 100%
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

Price: $3,100,000
Bldg SF: 9,600 SF
Land SF: 43,560 SF
CAP Rate: 5.87%
Price/SF: $323
Occupancy: 100%
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

Investment Highlights

100% Occupied NNN Shopping Center with Below Market Rents

 

  • Fully stabilized shopping center in affluent Ventura, CA
  • Strong location within close proximity to high-end homes and national credit tenants
  • Centralized location ideally located one block from the 101 Ventura Freeway with excellent freeway accessibility
  • Ideal suite sizes averaging 1,600 square feet
  • Average current rent per square foot is $1.67

 

Seasoned Tenant Mix Creates a Stable and Secure Income Stream

 

  • 100% occupied by six tenants
  • NNN leases with annual rental increases
  • Four of the five tenants have at least three years of primary term remaining, making this an excellent opportunity to purchase a stable cash-flowing asset
  • Average lease term of almost four years
  • Subway occupies 12.50% of the center

 

Strong Ventura, CA location

 

  • CoStar projects an increase in retail rents of 9% in the next five years in the immediate area
  • CoStar projects an increased retail sale price per square foot of 8% over the next five years in the immediate area
  • 222 feet of frontage on Johnson Drive offering excellent visibility and frontage
  • Excellent ingress and Egress
  • Direct access to the 101 Ventura Freeway

 

Affluent Submarket with strong Underlying Demographics

 

  • Average household income within one mile of the property exceeds $101,700, $105,500 within three miles, and $102,700 within five miles
  • There are over 8,700 people located within one mile of the property, 123,700 within three miles, and 247,300 within five miles
  • There are over 2,800 households located within one mile of the property, 39,209 within three miles of the property, and 76,742 within five miles of the property