Moorpark Road Medical/Office
For Sale
$4,950,000
468 Pennsfield Pl, Thousand Oaks, CA 91360
Prime location near Los Robles Regional Medical Center.
Property Size12,672 SF
Days on Market159
Property Features for 468 Pennsfield Pl
General Information
Standard status
Active
Size
12,672 SF
Class
B
Property subtype
Office
Building Details
Building Size
12,672 SF
Year Built
1981
Listing Agency:
(818) 581-7061
Listed By:
Brett Saunders
(818) 581-7061
Source:
Lee-associates
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 8 at 1:26PM
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 Brett Saunders
Investment Insights
Based on property information with market context.
This medical/office location is situated along Moorpark Road in Thousand Oaks, steps from Los Robles Regional Medical Center. It offers convenient access to key retail areas and the freeway within the Conejo Valley. The property's expenses include annual taxes of $68,750.00, insurance at $25,000.00, utilities costing $53,000.00, general and administrative expenses of $29,000.00, repair and maintenance costs of $18,000.00, security expenses of $2,500.00, landscape and grounds maintenance at $7,750.00, and janitorial services priced at $25,000.00. The total operating expenses amount to $229,000.00. SBA is available.
Key Highlights
- Prime medical/office location on Moorpark Road.
- Steps from Los Robles Regional Medical Center.
- SBA Available.
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
$293,359
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
5.93%
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%
$5,867,180
$5.9M
Cap Rate 7%
$4,190,843
$4.2M
Cap Rate 9%
$3,259,544
$3.3M
Market Conditions
NOI Build-Up for 12,672 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
$480.5K $37.92/SF
− Vacancy
−$89.4K −$7.05/SF
EGI
$391.1K $30.87/SF
− OpEx
−$97.8K −$7.72/SF
NOI
$293.4K $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%
$5,867,180
Cap Rate 7%
$4,190,843
Cap Rate 9%
$3,259,544
Alternative Uses
Best Use
Office B
$4.19M
$3.67M – $4.89M
NOI $293,359 @ 7.0% cap · market cap 5.93%
Second Best
Healthcare Medical
$2.70M
$2.36M – $3.15M
NOI $188,863 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$4.97M
$4.34M – $5.79M
NOI $347,575 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,378
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91360, CA
43,046
Population
15,631
Households
2.8
Avg Household Size
44
Median Age
44%
College-Educated
92%
High-School Grad
15.4 sq mi
ZIP Area
2,795
Density / Sq Mi
$116,729
Median Household Income
$51,132
Median Earnings
$2,412
Median Rent
$887,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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- Dean Christopher DVM — 575 Thousand Oaks Blvd, Thousand Oaks, CA 91360
Frequently Asked Questions
What type of property is this?
Medical Office Space - Prime location near Los Robles Regional Medical Center.
Where is this medical office space located?
The property is located at 468 Pennsfield Pl Thousand Oaks, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Prime medical/office location on Moorpark Road.; Steps from Los Robles Regional Medical Center.; SBA Available.
