872 New Los Angeles AveMoorpark, CA 93021

Property Details for 872 New Los Angeles Ave

Year built

2003

Lot size

7.24 AC

Property size (Sq ft)

95,711 SF

Property type

Retail properties

Property subtype

Super regional malls

APN

512-0-410-045

APU

5120410045

Description

Moorpark Marketplace, located at 872 New Los Angeles Ave, Moorpark, CA 93021, presents a compelling investment opportunity. This Class A, 207,300 square foot shopping center boasts a 98.7% occupancy rate and a strong NOI of $3,312,000, yielding a 5.30% cap rate. The property, built in 2005 and extensively renovated in 2023, features a diverse tenancy including national retailers such as TJ Maxx, Michaels, Kohl's, and Smart & Final Extra. The 18.8-acre site offers ample parking (894 spaces) and significant frontage along the 23 Freeway and New Los Angeles Ave, benefiting from high daily traffic counts. The property's strategic location in the affluent Ventura County submarket of Moorpark, CA, ensures consistent demand. The asking price is $62,500,000, with a price per square foot of $301. The land value is $76 per square foot. The property is zoned SP 92-1 and includes APNs 512-0-410-045, 512-0-410-055, 512-0-410-075, 512-0-410-095, 512-0-410-125, and 512-0-410-155. The property is offered for sale by owner. The tenant mix includes a blend of national and regional anchors, along with local businesses, creating a vibrant and synergistic shopping environment. Long-term leases with staggered expirations provide stability and minimize immediate leasing needs. This is a rare opportunity to acquire a high-performing, fully remodeled shopping center in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $42,604,140

  6.5%

  $39,326,900

  7%

  $36,517,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $45,865,016

  Geo Method

  $45,865,016

• Alternative Use

  Use

  Valuation

  Residential

  $33,173,710

  Hospitality

  $30,386,940

  Educational

  $25,281,578

  Medical

  $26,151,050

  Retail

  $39,326,900

Location Insight

City

Moorpark

County

Ventura

State

California

Latitude

34.2799

Longitude

-118.864

CBSA code

37100

CBSA name

OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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