Ojai Office/Industrial Park
For Sale
$1,349,000
407 Bryant Cir A, Ojai, CA 93023
Ojai mixed-use property with redevelopment potential in new Funk Zone.
Property Size3,350 SF
Lot Size0.38 Acres
Days on Market154
Property Features for 407 Bryant Cir A
General Information
Standard status
Active
Size
3,350 SF
Lot size
0.38 Acres
Property subtype
Commercial
Building Details
Building Size
3,350 SF
Year Built
2004
Listing Agency:
Land & Real Estate Investments
(818) 591-0201
Listed By:
Donald Pistotnik · License #00828981
Source:
Elliman
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 10 at 2:43PM
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 Land & Real Estate Investments
Investment Insights
Based on property information with market context.
This Ojai office/industrial park presents a unique opportunity within the emerging Ojai Funk Zone, which is expected to accommodate a wider array of uses, including wineries, galleries, and dispensaries. The property is suitable for an owner/user, as existing tenants operate under short-term leases, offering flexibility for occupancy or lease-up as an investment property. The cost is less than replacement costs, and the barriers to entry in Ojai make this impossible to duplicate. Current tenants include a custom glass design shop, a children's learning center, and a wine import business. The building is part of the Ojai Business Center complex. Ample parking is available both on-site and on the street. Previous owners' plans and applications to the City of Ojai for conversion to residential/live-work spaces are available and would create a huge profit potential. Seller financing is available with 25% down payment at 7% for five years.
Key Highlights
- Potential for conversion to residential/live work spaces.
- Located in the new Ojai Funk Zone, allowing for a variety of uses including wineries, galleries, and dispensaries.
- Ideal for owner/user due to short‑term tenant leases.
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
$59,299
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
4.40%
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%
$1,185,980
$1.2M
Cap Rate 7%
$847,129
$847.1K
Cap Rate 9%
$658,878
$658.9K
Market Conditions
NOI Build-Up for 3,350 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
$88.4K $26.40/SF
− Vacancy
−$9.4K −$2.80/SF
EGI
$79.1K $23.60/SF
− OpEx
−$19.8K −$5.90/SF
NOI
$59.3K $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%
$1,185,980
Cap Rate 7%
$847,129
Cap Rate 9%
$658,878
Alternative Uses
Best Use
Office B
$847.1K
$741.2K – $988.3K
NOI $59,299 @ 7.0% cap · market cap 4.40%
Second Best
Retail
$766.2K
$670.4K – $893.9K
NOI $53,635 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,503 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 93023, CA
20,937
Population
9,310
Households
2.2
Avg Household Size
50
Median Age
41%
College-Educated
90%
High-School Grad
266.9 sq mi
ZIP Area
78
Density / Sq Mi
$82,298
Median Household Income
$42,389
Median Earnings
$1,831
Median Rent
$888,700
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?
Mixed-use property - Ojai mixed-use property with redevelopment potential in new Funk Zone.
Where is this mixed-use property located?
The property is located at 407 Bryant Cir A Ojai, CA.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Potential for conversion to residential/live work spaces.; Located in the new Ojai Funk Zone, allowing for a variety of uses including wineries, galleries, and dispensaries.; Ideal for owner/user due to short‑term tenant leases.
