Simi Executive Center Simi Valley CA

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Executive Summary

Address

1445 E Los Angeles Avenue
Simi Valley, CA 93065

Summary

  • Price $8,250,000
  • Total Rentable Area 40,988 SF
  • Price/Sf $197
  • Cap Rate 6.86%
  • Pro Forma Cap Rate Year 3 8.53%
  • Year 1 Net Operating Income $565,825

Overview

Marcus & Millichap is pleased to present the opportunity to acquire 1445 LA Ave, a 41,907-square-foot highly desirable suburban office located in Simi Valley, California. The property benefits from its excellent Simi Valley location, walkable to local shopping centers, restaurants, and other amenities nearby. Currently operating at 92.4% occupancy, the building features a stable tenant roster that has been resistant to the new work-from-home COVID-19 environment.  

New ownership of 1445 LA Ave will benefit from a tremendous opportunity to boost near-term returns. As tenants roll, the investor can increase the rentable square footage by 5,162 square feet by establishing a market load factor (BOMA measurement completed May-2021), and, in turn, add approximately $1.2 million in future value. Ownership will also be able to begin collecting market standard CAM reimbursements, totaling approximately $31,000 by Year 3.

The next owner of 1445 LA Ave will be acquiring a highly desirable suburban office building with an opportunity to boost near term returns and capitalize on the asset’s strong occupancy record in one of the most desired suburban locations across California.

Market Highlights

Premium Simi Location with Walkable Amenities

Post Covid-19 Desirable Boutique Suburban Office

92.4% Occupied with Strong Historical Occupancy

Small Footprint Suites Match Market Demand

Stable Tenancy Resistant to Work From Home

Significant Reduction of Office Supply in Simi Valley

Location

Cohen | DeBuiser Team

Brokerage team

Cohen | DeBuiser is a leading commercial real estate team with Marcus & Millichap, focusing on office, industrial, and retail investment sales in Ventura, Santa Barbara, and Los Angeles Counties. Their mission is to provide the best service, advice, and opportunities for their clients to build wealth in investment real estate.


James DeBuiser

First Vice President Investments
Marcus & Millichap
Cell 805.368.4313 Office 805.351.7144 jdebuiser@marcusmillichap.com

Gary Cohen

First Vice President Investments
Marcus & Millichap
Cell 818.804.1227 Office 805.351.7143 gcohen@marcusmillichap.com

Ben Tashakorian

Senior Managing Director Investments
IPA
(858) 373-3176 btashakorian@ipausa.com

Brad Peters

Vice President Investments
IPA
(858) 373-3227 bpeters@ipausa.com

Phone
(805) 351-7144
Address
Marcus & Millichap
2775 N Ventura Road, Suite 101
Oxnard, CA
93036