Thousand Oaks Industrial
For Sale
$29,461,410
1515 Rancho Conejo Boulevard, Thousand Oaks, CA 91320
Freestanding industrial building with freeway access and modern features.
Property Size89,277 SF
Price / SF$330
Days on Market134
Property Features for 1515 Rancho Conejo Boulevard
General Information
Standard status
Active
Size
89,277 SF
Property subtype
Industrial
Listing Agency:
CBRE
(818) 458-7853
Listed By:
Bennett Robinson · License #00984312
(818) 458-7853
Source:
Cbre
Added: Apr 15
Changed: Jul 10
Last Checked: Aug 26 at 5:44AM
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 CBRE
Investment Insights
Based on property information with market context.
This industrial building in Thousand Oaks features clear heights ranging from 27'8" to 30'. The property includes 17 dock-high doors, equating to approximately 1.9 docks per 10,000 square feet. Equipped with ESFR sprinklers, this state-of-the-art, freestanding building offers accessibility to the 101 Freeway and is located minutes from outdoor recreation and trails. The property size is 89,277 square feet.
Key Highlights
- Great Accessibility to 101 Freeway
- 27'8" - 30' Clear Height**
- 17 Dock High Doors** |1.9 Docks / 10,000 SF
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
$1,262,819
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
4.29%
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%
$25,256,380
$25.3M
Cap Rate 7%
$18,040,271
$18.0M
Cap Rate 9%
$14,031,322
$14.0M
Market Conditions
NOI Build-Up for 89,277 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
$1.59M $17.76/SF
− Vacancy
−$99.9K −$1.12/SF
EGI
$1.49M $16.64/SF
− OpEx
−$222.9K −$2.50/SF
NOI
$1.26M $14.14/SF
Area
Thousand Oaks, CA
Vacancy
6.30%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
15.00%
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%
$25,256,380
Cap Rate 7%
$18,040,271
Cap Rate 9%
$14,031,322
Alternative Uses
Best Use
Warehouse
$18.04M
$15.79M – $21.05M
NOI $1,262,819 @ 7.0% cap · market cap 4.29%
Second Best
Industrial
$14.86M
$13.00M – $17.33M
NOI $1,039,968 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$34.98M
$30.61M – $40.81M
NOI $2,448,738 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91320, CA
44,462
Population
15,509
Households
2.9
Avg Household Size
43
Median Age
53%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,201
Density / Sq Mi
$150,861
Median Household Income
$62,932
Median Earnings
$2,617
Median Rent
$917,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pro-Tek Vaults — 1471 Lawrence Dr, Thousand Oaks, CA 91320
- Thousand Oaks Storage Solutions — 1467 Lawrence Dr, Newbury Park, CA 91320
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding industrial building with freeway access and modern features.
Where is this warehouse located?
The property is located at 1515 Rancho Conejo Boulevard Thousand Oaks, CA.
What is the asking price?
The asking price for this property is $29,461,410.
What are key features of this property?
This property features: Great Accessibility to 101 Freeway; 27'8" - 30' Clear Height**; 17 Dock High Doors** |1.9 Docks / 10,000 SF
