Renovated Simi Valley Office
For Sale
Contact for pricing
Pending
2450 Tapo St, Simi Valley, CA 93063
Two-story office building with expansion potential and rooftop leases.
Property Size10,809 SF
Days on Market193
Property Features for 2450 Tapo St
General Information
Standard status
Pending
Size
10,809 SF
Property subtype
Office
Occupancy
5%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$53,000
Building Details
Tenancy
Multi
Listing Agency:
Kidder Mathews San Diego
Listed By:
Mike Neil · License #CA 01271103
Source:
Crexi
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 15 at 12:32AM
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 Kidder Mathews San Diego
Investment Insights
Based on property information with market context.
This is a strategically located, two-story office building featuring 10,809 square feet of space. A complete building renovation was completed in 2018. The site includes excess unused land with previously approved plans for a two-story office or medical building of approximately 9,000 square feet, allowing for future expansion. The property benefits from two rooftop lease agreements with both AT&T and Verizon, providing long-term stabilized income.
Key Highlights
- Strategically located 2‑story office building.
- Benefit from long‑term stabilized income from two rooftop lease agreements with AT&T and Verizon.
- Complete building renovation in 2018 minimizes deferred maintenance.
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
$168,369
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
3.88%
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%
$3,367,380
$3.4M
Cap Rate 7%
$2,405,271
$2.4M
Cap Rate 9%
$1,870,767
$1.9M
Market Conditions
NOI Build-Up for 10,809 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
$278.9K $25.80/SF
− Vacancy
−$54.4K −$5.03/SF
EGI
$224.5K $20.77/SF
− OpEx
−$56.1K −$5.19/SF
NOI
$168.4K $15.58/SF
Area
Simi Valley, CA
Vacancy
19.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,367,380
Cap Rate 7%
$2,405,271
Cap Rate 9%
$1,870,767
Alternative Uses
Best Use
Office B
$2.41M
$2.10M – $2.81M
NOI $168,369 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.10M
NOI $246,051 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,373
Businesses Nearby
Explore this area
Business Placement
Demographics for 93063, CA
55,076
Population
20,220
Households
2.7
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
36.2 sq mi
ZIP Area
1,521
Density / Sq Mi
$124,030
Median Household Income
$56,868
Median Earnings
$2,385
Median Rent
$746,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with expansion potential and rooftop leases.
Where is this office building located?
The property is located at 2450 Tapo St Simi Valley, CA.
What is the asking price?
The asking price for this property is $4,343,600.
What are key features of this property?
This property features: Strategically located 2‑story office building.; Benefit from long‑term stabilized income from two rooftop lease agreements with AT&T and Verizon.; Complete building renovation in 2018 minimizes deferred maintenance.
