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    Westlake Plaza Out-Parcel Opportunity Title is generated by Realmo AI

    2799 Townsgate Rd, Westlake Village, CA 91361

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    For Sale
    $6,769,231

    10,000 SF out-parcel in affluent Westlake Village trade area.

    Type:Vacant-User
    Property size:
    10,000 SF
    Price / SF:
    $676/SF
    Added:
    Apr 3, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 3 at 5:36 am

    Property Features for 2799 Townsgate Rd

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Property subtype
    Vacant-User

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Bill Rose
    Bill Rose

    Listing agent Bill Rose License #CA: 01170320, NV: S.0198735

    Listing office San Diego Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of San Diego Office

    HighLights

    • High‑visibility hard‑corner location at the signalized intersection of Townsgate Road and South Westlake Boulevard.
    • Shares cross‑access parking with the 263‑room Hyatt Regency Hotel and the 286,000 square foot Westlake Plaza.
    • Located within the master‑planned Westlake Plaza and Center, attracting over 4 million annual visitors.
    • Affluent primary trade area with over 112,750 residents and a $217,104 Average Household Income.
    • Proximity to major retailers including Gelsons, Vons, and Sprouts.
    • Situated in Westlake Village, at the border of Los Angeles and Ventura Counties, with access to diverse surrounding areas.

    Overview

    This offering presents the opportunity to purchase or lease an approximately 10,000 square foot out-parcel located to the Westlake Plaza & Center at the signalized intersections of Townsgate Road and South Westlake Boulevard in Thousand Oaks, CA. The property benefits from hard-corner visibility on the primary ring road and shares cross-access parking with the 263-room Hyatt Regency Hotel and the 286,000 square foot Westlake Plaza. Area retailers include Gelsons, Vons, and Sprouts, along with a wide range of specialty shops and daily needs services. The master-planned Westlake Plaza and Center attracts over 4 million business travelers and local consumers annually. The surrounding area is affluent, with a primary five-mile trade area encompassing over 112,750 residents earning over $217,104 average household income. The Westlake Village trade area is situated at the western border of Los Angeles and Ventura Counties. The location is near canyons leading to the Pacific Ocean and Malibu to the south, Moorpark and Simi Valley to the north, Agoura Hills, Calabasas, and the West San Fernando Valley to the east, and Thousand Oaks, Newbury Park, and Camarillo to the west.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westlake Village
    County
    Ventura
    State
    California
    Longitude
    -118.8248136
    Latitude
    34.1539326

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    FAQs

    What type of property is this?
    Commercial land - 10,000 SF out-parcel in affluent Westlake Village trade area.
    Where is this commercial land located?
    The property is located at 2799 Townsgate Rd Westlake Village, CA.
    What is the asking price?
    The asking price for this property is $6,769,231.
    What are key features of this property?
    This property features: High‑visibility hard‑corner location at the signalized intersection of Townsgate Road and South Westlake Boulevard.; Shares cross‑access parking with the 263‑room Hyatt Regency Hotel and the 286,000 square foot Westlake Plaza.; Located within the master‑planned Westlake Plaza and Center, attracting over 4 million annual visitors.
    (858) 373-3132
    We can help!
    Listing Contact
    Bill Rose
    Bill Rose
    Real Estate License ID: CA: 01170320, NV: S.0198735
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2799 Townsgate Rd, Westlake Village, CA 91361
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