Retail Shopping Center on
For Sale
Contact for pricing
Pending
22982 Ventura Blvd, Los Angeles, CA 91364
Shopping center with 215 feet of frontage on Ventura Boulevard, recently upgraded roof, HVAC units, fire alarm, and parking.
Property Size14,474 SF
Lot Size0.58 Acres
Days on Market824
Property Features for 22982 Ventura Blvd
General Information
Standard status
Pending
Size
14,474 SF
Total Parking Spaces
28
Lot size
0.58 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$399,524
Building Details
Year Built
1985
Buildings
2
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
RE/MAX Optima
Listed By:
Andrew Awaida · License #01018186
Source:
Crexi
Added: Jun 6, 2024
Changed: Aug 23
Last Checked: Aug 14 at 8:00AM
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 RE/MAX Optima
Investment Insights
Based on property information with market context.
Woodlake Plaza is a retail shopping center set on 25,401 SF of land with 215 feet of frontage along Ventura Boulevard. The property has undergone recent upgrades, including the roof, HVAC units, a fire alarm system, and parking.
The center is positioned along a major retail corridor on a sought-after stretch of Ventura Blvd and is noted as having strong visibility and frontage. It offers access to the 101 Freeway and is surrounded by single-family homes and multi-family apartments.
This offering is presented as a for-sale opportunity with the seller reporting that the buyer was previously unable to obtain financing.
The center is positioned along a major retail corridor on a sought-after stretch of Ventura Blvd and is noted as having strong visibility and frontage. It offers access to the 101 Freeway and is surrounded by single-family homes and multi-family apartments.
This offering is presented as a for-sale opportunity with the seller reporting that the buyer was previously unable to obtain financing.
Key Highlights
- Shopping center on 25,401 SF of land with 215 feet of frontage along Ventura Boulevard
- Recently upgraded roof, HVAC units, fire alarm, and parking
- Built in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$335,901
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,718,020
$6.7M
Cap Rate 7%
$4,798,586
$4.8M
Cap Rate 9%
$3,732,233
$3.7M
Market Conditions
NOI Build-Up for 14,474 SF
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.
Gross rent
$535.0K $36.96/SF
− Vacancy
−$55.1K −$3.81/SF
EGI
$479.9K $33.15/SF
− OpEx
−$144.0K −$9.95/SF
NOI
$335.9K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,718,020
Cap Rate 7%
$4,798,586
Cap Rate 9%
$3,732,233
Alternative Uses
Best Use
Retail
$4.80M
$4.20M – $5.60M
NOI $335,901 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$293.23M
$256.58M – $342.11M
NOI $20,526,418 @ 7.0% cap · market cap 321.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,739
Businesses Nearby
102k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 29%
Shops & Services 21%
Hotels & Casinos 3%
Smart & Final
Groceries
29,562 visits/mo
0.4 miles
Wendy's
Dining
17,054 visits/mo
0.4 miles
The Habit Burger Grill
Dining
14,432 visits/mo
0.3 miles
Jack in the Box
Dining
11,258 visits/mo
0.3 miles
7-Eleven
Shops & Services
10,541 visits/mo
0.1 miles
Demographics for 91364, CA
27,071
Population
10,969
Households
2.5
Avg Household Size
45
Median Age
55%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,609
Density / Sq Mi
$134,534
Median Household Income
$74,852
Median Earnings
$2,847
Median Rent
$1,162,000
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Similar Off Market Nearby
- El Camino Shopping Center — 23335 Mulholland Dr, Woodland Hills, CA 91364
- La Plaza — 22311 Ventura Blvd, Woodland Hills, CA 91364
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with 215 feet of frontage on Ventura Boulevard, recently upgraded roof, HVAC units, fire alarm, and parking.
Where is this shopping center located?
The property is located at 22982 Ventura Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $6,380,000.
What are key features of this property?
This property features: Shopping center on 25,401 SF of land with 215 feet of frontage along Ventura Boulevard; Recently upgraded roof, HVAC units, fire alarm, and parking; Built in 1985
