450 American StSimi Valley, CA 93065

Property Details for 450 American St

Year built

1990

Lot size

8.15 AC

Property size (Sq ft)

20,660 SF

Zone code

BP-S

Property type

Office properties

Property subtype

Office buildings

APN

615-0-160-305

APU

6150160305

Description

This exceptional Simi Valley, CA office complex, located at 450 American St, 93065, offers 209,404 square feet of space in a Class B building constructed in 1990 and renovated in 2000. Currently fully leased to Bank of America under an NNN lease expiring December 2025, this property boasts a strong 11.10% cap rate and a substantial NOI of $3,318,636. The single-story building sits on a sprawling 12.5 acres and features a generous parking ratio of 5.5 spaces per 1,000 rentable square feet. Zoned BP-SP, this property presents a unique investment opportunity. Investors can leverage the existing lease with Bank of America (S&P: A+; NYSE: BAC) while planning for future repositioning as a corporate headquarters or owner-user space. The property's strategic location in Ventura County offers excellent regional accessibility. Originally built as an industrial building, it was converted to office space, retaining high ceilings and an open layout. The asking price is $29,900,000 and is offered as a 1031 exchange opportunity. The APN is 615-0-500-045, 615-0-500-035, 615-0-500-015, and 615-0-500-025.

• CAP approach

  CAP return

  Valuation

  6%

  $6,240,592

  6.5%

  $5,760,546

  7%

  $5,349,079

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,928,706

  Geo Method

  $3,928,706

• Alternative Use

  Use

  Valuation

  Residential

  $7,143,078

  Hospitality

  $6,543,021

  Educational

  $5,443,716

  Medical

  $5,630,934

  Retail

  $8,468,004

Location Insight

City

Simi Valley

County

Ventura

State

California

Latitude

34.2874

Longitude

-118.786

CBSA code

37100

CBSA name

OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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