0 Miller PkwyMoorpark, CA 93021

Property Details for 0 Miller Pkwy

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 11.22-acre (net rentable) commercial and industrial land parcel in Moorpark, CA (93021), presents a unique investment opportunity. Currently ground-leased to Home Depot U.S.A., Inc. for 17 years with three 10-year renewal options and 10% rent increases every five years, this lease provides substantial, guaranteed income. The lease is guaranteed by Home Depot U.S.A., Inc., a wholly-owned subsidiary of The Home Depot, Inc. The property boasts unparalleled visibility, situated on Miller Parkway with excellent exposure to Highways 23 and 118, experiencing daily traffic counts exceeding 40,000 vehicles. Its strategic location adjacent to Moorpark Marketplace, a significant power center anchored by major retailers like Target, Kohl's, and others, ensures high foot traffic and strong consumer demographics. The area is characterized by high average household incomes exceeding $122,000 and is home to Custom Sensors & Technologies, a major employer with over 1,200 employees. Moorpark itself is a rapidly growing and desirable community within the greater Los Angeles area, exhibiting significant population growth over the past decade and projected continued expansion. The property's proximity to Downtown Los Angeles (approximately 40 minutes) provides easy access to the broader Los Angeles market. This is a rare opportunity to acquire a stable, income-generating asset in a thriving location with significant long-term growth potential. The zoning is Commercial & Light Industrial, allowing for a variety of future development possibilities, should the lease be terminated.

Location Insight

City

Moorpark

County

Ventura

State

California

Latitude

34.2784

Longitude

-118.863

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