Multi-Tenant Retail
2068 Tapo St Simi Valley, CA 93063
2068 Tapo St, Simi Valley, CA, 93063
$7,185,895
For Sale
$7,185,895
Multi-tenant retail center with freeway access and storefront visibility along a major Simi Valley corridor.
Property Size35,955 SF
Price / SF$199.86
Days on Market26
Property Features for 2068 Tapo St
General Information
- Standard status
- Active
- Size
- 35,955 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 1964
Listing agency
Marcus & Millichap - Los Angeles
(213) 943-1822
Listed by
Orbell Ovaness · License #License(s): CA: 01402142
(213) 943-1822
Source
Marcusmillichap
Added: Jun 28 Updated: Jul 10 at 2:08PM Checked: Jul 23 at 2:40AM
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 Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
2068 Tapo Street is a multi-tenant retail property configured for neighborhood-serving retail and service uses, with multiple storefront spaces occupied by a diverse tenant mix. The center is positioned along Tapo Street and designed to capture day-to-day customer traffic, supported by its on-site retail tenant occupancy.
The asset sits on Tapo Street with convenient access to the 118 Freeway, supporting strong visibility and easy approach from the surrounding area. It is located within a well established retail trade area and is presented as part of an established commercial corridor in Simi Valley.
For buyers seeking a retail investment, this property offers the benefit of existing in-place tenants serving the daily needs of the surrounding community. Its multi-tenant structure can appeal to investors looking for a diversified retail and service tenant base, with opportunities that may arise through future lease activity and tenant retention. The offering is presented as a mature, supply-constrained neighborhood retail asset within Ventura County’s established retail environment.
The asset sits on Tapo Street with convenient access to the 118 Freeway, supporting strong visibility and easy approach from the surrounding area. It is located within a well established retail trade area and is presented as part of an established commercial corridor in Simi Valley.
For buyers seeking a retail investment, this property offers the benefit of existing in-place tenants serving the daily needs of the surrounding community. Its multi-tenant structure can appeal to investors looking for a diversified retail and service tenant base, with opportunities that may arise through future lease activity and tenant retention. The offering is presented as a mature, supply-constrained neighborhood retail asset within Ventura County’s established retail environment.
Key Highlights
- Multi‑tenant retail investment at 2068 Tapo Street, built in 1964.
- Situated along Tapo Street with convenient access to the 118 Freeway.
- Occupied by a diverse mix of retail and service‑oriented tenants.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $522.1k | $14.52 |
| − Vacancy | −$29.2k | −$0.81 |
| EGI | $492.8k | $13.71 |
| − OpEx | −$147.8k | −$4.11 |
| NOI | $345.0k | $9.59 |
35,955 SF · lease $14.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.93M
$4.31M – $5.75M
NOI $344,982 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.69M
$10.23M – $13.64M
NOI $818,462 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Detail Center
Car Wash
Simi Valley Car ...
Car Wash
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Multi-tenant retail center with freeway access and storefront visibility along a major Simi Valley corridor.
Where is this strip mall located?
The property is located at 2068 Tapo St Simi Valley, CA.
What is the asking price?
The asking price for this property is $7,185,895.
What are key features of this property?
This property features: Multi‑tenant retail investment at 2068 Tapo Street, built in 1964.; Situated along Tapo Street with convenient access to the 118 Freeway.; Occupied by a diverse mix of retail and service‑oriented tenants.
