Office Condominium
For Sale
$441,628
2775 Tapo Street, Simi Valley, CA 93063
Office condominium ownership in a professionally constructed building completed in 2007.
Property Size1,752 SF
Price / SF$252.07
Days on Market91
Property Features for 2775 Tapo Street
General Information
Standard status
Active
Size
1,752 SF
Class
Class A
Property subtype
Office
Building Details
Year Built
2007
Buildings
1
Listing Agency:
Pacific Partners Commercial, Inc.
(818) 251-3613
Listed By:
Dalton Saberhagen · License #01971713
(818) 251-3613
Source:
Cbre
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 2:27PM
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 Pacific Partners Commercial, Inc.
Investment Insights
Based on property information with market context.
This 1,752-square-foot office condominium is located within a building completed in 2007. The property is positioned at 2775 Tapo Street in Simi Valley, California, with a 93063 ZIP Code.
Key Highlights
- 1,752‑square‑foot office condominium
- Building completed in 2007
- 2775 Tapo Street address in Simi Valley, CA 93063
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
$27,290
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
6.18%
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%
$545,800
$545.8K
Cap Rate 7%
$389,857
$389.9K
Cap Rate 9%
$303,222
$303.2K
Market Conditions
NOI Build-Up for 1,752 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
$45.2K $25.80/SF
− Vacancy
−$8.8K −$5.03/SF
EGI
$36.4K $20.77/SF
− OpEx
−$9.1K −$5.19/SF
NOI
$27.3K $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%
$545,800
Cap Rate 7%
$389,857
Cap Rate 9%
$303,222
Alternative Uses
Best Use
Office B
$389.9K
$341.1K – $454.8K
NOI $27,290 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.7K
$498.5K – $664.7K
NOI $39,882 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
903
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 units - Office condominium ownership in a professionally constructed building completed in 2007.
Where is this office units located?
The property is located at 2775 Tapo Street Simi Valley, CA.
What is the asking price?
The asking price for this property is $441,628.
What are key features of this property?
This property features: 1,752‑square‑foot office condominium; Building completed in 2007; 2775 Tapo Street address in Simi Valley, CA 93063
