3175 Old Conejo RdThousand Oaks, CA 91320

Property Details for 3175 Old Conejo Rd

Year built

2008

Property size (Sq ft)

4,565 SF

Property type

Office properties

Property subtype

Other office properties

APN

668-0-370-015

APU

6680370015

Description

This exceptional two-story, 6,523 square foot office building in Thousand Oaks, California presents a compelling investment opportunity. Located at 3175 Old Conejo Rd, 91320, this Class B property boasts a desirable location just off the 101 Freeway, offering convenient access and high visibility. Built in 2008, the building features a single structure with an elevator and ample parking (24 spaces per 1,000 sq ft). The property is currently 84% occupied as of February 6, 2023, with a pro-forma NOI of $109,990 and a 5.00% cap rate. Each suite is individually metered for electricity and benefits from a separate HVAC system, ensuring efficient energy management and tenant comfort. The building's design is bright and airy, with every suite enjoying a corner location. Leases include annual rent bumps, utilizing AIR lease forms. Importantly, there is no deferred maintenance. Two second-floor suites are available for immediate occupancy, presenting an ideal opportunity for an owner-user. This stabilized investment offers a strong cash flow with the potential for future growth. The property's features include executive and traditional office spaces, making it suitable for a variety of tenants. The building is well-maintained and offers a comfortable and productive work environment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,385,684

  6.5%

  $1,279,093

  7%

  $1,187,729

• Comparable approach

  Method

  Valuation

  Relative Method

  $868,080

  Geo Method

  $868,080

• Alternative Use

  Use

  Valuation

  Residential

  $1,586,075

  Hospitality

  $1,452,836

  Educational

  $1,208,743

  Medical

  $1,250,314

  Retail

  $1,880,267

Location Insight

City

Thousand Oaks

County

Ventura

State

California

Latitude

34.1906

Longitude

-118.943

CBSA code

37100

CBSA name

OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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