Two-Story Mixed-Use
New
For Sale
$2,899,000
3275 E Thousand Oaks Boulevard, Westlake Village, CA 91362
Commercial Sale, Westlake Village, CA
Property Size8,250 SF
Lot Size0.47 Acres
Price / SF$351.39
Days on Market2
Property Features for 3275 E Thousand Oaks Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Subdivision
TOE - Thousand Oaks East
Standard status
Active
APN
6710160210
Size
8,250 SF
Lot size
0.47 Acres
Building Details
Year built
1971
Listing Agency:
Equity Union Real Estate
(805) 892-8119
Listed By:
Scott Rice · License #02034360
(805) 844-0021
Added: Sep 19
Last Checked: Sep 20 at 10:06PM
MLS# 226004488
Copyright © 2026 Conejo Simi Moorpark Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1971, this 8,250-square-foot mixed-use building combines office and retail space across two stories on a 0.467-acre parcel. French windows, used brick detailing, and building signage contribute to the property’s street presence. The layout includes two exterior stairways and one interior stairway; there is no elevator. Current occupiable areas range from approximately 95 to 2,800 square feet, subject to change.
The property is located at 3275 E Thousand Oaks Boulevard in Westlake Village, with access to the 101 and 23 freeways. Restaurants, recreation, entertainment, the Post Office, and public transportation are nearby, including a covered bus stop. The building’s office-and-retail configuration supports a range of commercial occupancy arrangements within an established community setting.
The property is located at 3275 E Thousand Oaks Boulevard in Westlake Village, with access to the 101 and 23 freeways. Restaurants, recreation, entertainment, the Post Office, and public transportation are nearby, including a covered bus stop. The building’s office-and-retail configuration supports a range of commercial occupancy arrangements within an established community setting.
Key Highlights
- 8,250‑square‑foot mixed‑use building on 0.467 acres
- Two‑story office and retail configuration built in 1971
- Current occupiable areas range from approximately 95 to 2,800 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
$146,035
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
5.04%
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%
$2,920,700
$2.9M
Cap Rate 7%
$2,086,214
$2.1M
Cap Rate 9%
$1,622,611
$1.6M
Market Conditions
NOI Build-Up for 8,250 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
$217.8K $26.40/SF
− Vacancy
−$23.1K −$2.80/SF
EGI
$194.7K $23.60/SF
− OpEx
−$48.7K −$5.90/SF
NOI
$146.0K $17.70/SF
Area
Ventura County, CA
Vacancy
10.60%
Lease Rate
$26.40 /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%
$2,920,700
Cap Rate 7%
$2,086,214
Cap Rate 9%
$1,622,611
Alternative Uses
Best Use
Office B
$2.09M
$1.83M – $2.43M
NOI $146,035 @ 7.0% cap · market cap 5.04%
Second Best
Retail
$1.89M
$1.65M – $2.20M
NOI $132,086 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,253 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 91362, CA
35,803
Population
14,456
Households
2.5
Avg Household Size
46
Median Age
56%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,884
Density / Sq Mi
$143,683
Median Household Income
$64,921
Median Earnings
$2,735
Median Rent
$1,078,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and retail space features French windows, brick accents, prominent signage, and separate exterior access between levels.
Where is this mixed-use property located?
The property is located at 3275 E Thousand Oaks Boulevard Westlake Village, CA.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: 8,250‑square‑foot mixed‑use building on 0.467 acres; Two‑story office and retail configuration built in 1971; Current occupiable areas range from approximately 95 to 2,800 SF
