Remodeled Newbury Park Corporate
For Sale
$6,999,999
3615 Old Conejo Rd, Newbury Park, CA 91320
High-image industrial building with lab space near Amgen campus.
Property Size23,919 SF
Price / SF$292.65
Days on Market261
Property Features for 3615 Old Conejo Rd
General Information
Standard status
Active
Size
23,919 SF
Class
A
Property subtype
Office
Building Details
Building Size
23,919 SF
Listing Agency:
NAI Capital HQ
(805) 277-4029
Listed By:
Matt Ehrlich · License #CalDRE #01936772
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:12PM
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 NAI Capital HQ
Investment Insights
Based on property information with market context.
This 23,919-square-foot industrial building in Newbury Park, constructed in 2002, features remodeled high-image corporate headquarters and clean room laboratory space. Located in a master-planned business park adjacent to the 101 Freeway, it offers convenient access. The property includes specialized improvements, 19-foot clearance height, and two 12-foot by 14-foot ground-level loading doors. It is equipped with 600 Amps of 277-470Volt, 3 Phase, 4 Wire power, ceiling drop power lines (240V), a steam boiler, and humidity temperature-controlled manufacturing space. The building features Class-A laboratory space, including built-out clean and wet lab space, Class 7 & 8 downdraft clean rooms, climate-controlled laboratory space, sterilization and changing rooms, and centrifuge and evaporation room. Additional amenities include a new 8-foot by 8-foot commercial walk-in freezer, a new 20-foot by 11-foot commercial walk-in refrigerator, high-security with key card access, and security cameras. The office area is equipped with automatic sunshades, executive restrooms with a shower, a full employee kitchen with granite countertops and stainless steel fixtures, and high-image restrooms with polished concrete floors and stainless steel. The property also features Title 24 recessed lighting and skylights, open light and bright office space, 13,927 square feet of production space, and 9,992 square feet of office and lab space.
Key Highlights
- Newly remodeled high‑image corporate headquarters with Class‑A laboratory space, including built‑out clean/wet lab space.
- Multi‑million dollar specialized improvements**, including Class 7 & 8 downdraft clean rooms and climate‑controlled laboratory space.
- Located in a highly desirable master‑planned business park adjacent to the 101 Freeway, offering easy access.
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
$553,729
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
7.91%
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%
$11,074,580
$11.1M
Cap Rate 7%
$7,910,414
$7.9M
Cap Rate 9%
$6,152,544
$6.2M
Market Conditions
NOI Build-Up for 23,919 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
$907.0K $37.92/SF
− Vacancy
−$168.7K −$7.05/SF
EGI
$738.3K $30.87/SF
− OpEx
−$184.6K −$7.72/SF
NOI
$553.7K $23.15/SF
Area
Thousand Oaks, CA
Vacancy
18.60%
Lease Rate
$37.92 /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%
$11,074,580
Cap Rate 7%
$7,910,414
Cap Rate 9%
$6,152,544
Alternative Uses
Best Use
Office B
$7.91M
$6.92M – $9.23M
NOI $553,729 @ 7.0% cap · market cap 7.91%
Second Best
Industrial
$3.98M
$3.48M – $4.64M
NOI $278,627 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$9.37M
$8.20M – $10.93M
NOI $656,063 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - High-image industrial building with lab space near Amgen campus.
Where is this manufacturing property located?
The property is located at 3615 Old Conejo Rd Newbury Park, CA.
What is the asking price?
The asking price for this property is $6,999,999.
What are key features of this property?
This property features: Newly remodeled high‑image corporate headquarters with **Class‑A laboratory space, including built‑out clean/wet lab space.**; Multi‑million dollar specialized improvements**, including Class 7 & 8 downdraft clean rooms and climate‑controlled laboratory space.; Located in a highly desirable master‑planned business park adjacent to the 101 Freeway, offering easy access.
