Flex Office-Warehouse
For Sale
$1,195,000
5210 Lewis, Agoura Hills, CA 91301
Own two contiguous office-and-warehouse condominiums with ground-level loading and reserved parking for operations and headquarters use.
Property Size3,650 SF
Price / SF$327.40
Days on Market55
Property Features for 5210 Lewis
General Information
Standard status
Active
Size
3,650 SF
Total Parking Spaces
11
Property subtype
Commercial
Zoning
CRS-FC-OA
Additional Details
Business Included
Yes
Highway Access
Yes
Amenities
Central air
Central Air Cooling
Central Heating
Flat Roof
Building Details
Year Built
1982
Listing Agency:
KING REALTY
(626) 255-3925
Listed By:
DAN ADIVI · License #01183293
Source:
Corcoran
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 22 at 7:45AM
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 KING REALTY
Investment Insights
Based on property information with market context.
The property consists of two contiguous commercial condominiums totaling approximately 3,650 square feet, designed to combine executive office space with warehouse and operational flexibility. The layout is roughly 50% office and 50% warehouse/flex, including six executive offices, a conference room, and a kitchenette. Restrooms are provided on both levels, and multiple private entrances are available. Operational access includes ground-level loading, supporting day-to-day warehouse workflow.
The site offers direct visibility from the Ventura (US-101) Freeway and provides immediate US-101 access. It is located in Agoura Hills, CA 91301 at 5210 Lewis. The property includes 11 reserved parking spaces and a fee simple ownership structure with an approximate $1,200 per month HOA.
This configuration is well suited for owner-occupants that want to consolidate office, lab/technology-oriented work, and warehousing or distribution/storage functions under one ownership. The CRS-FC-OA zoning is noted in the materials, and the building’s office-and-warehouse balance supports a range of operational setups including professional services with field or storage needs, research and development, creative services, and medical-related uses that benefit from both private offices and loading-capable space.
The site offers direct visibility from the Ventura (US-101) Freeway and provides immediate US-101 access. It is located in Agoura Hills, CA 91301 at 5210 Lewis. The property includes 11 reserved parking spaces and a fee simple ownership structure with an approximate $1,200 per month HOA.
This configuration is well suited for owner-occupants that want to consolidate office, lab/technology-oriented work, and warehousing or distribution/storage functions under one ownership. The CRS-FC-OA zoning is noted in the materials, and the building’s office-and-warehouse balance supports a range of operational setups including professional services with field or storage needs, research and development, creative services, and medical-related uses that benefit from both private offices and loading-capable space.
Key Highlights
- Two contiguous commercial condominium units totaling approx. 3,650 SF (office + warehouse/flex).
- Space is about 50% office and 50% warehouse/flex, with six executive offices plus conference room and kitchenette.
- Ground‑level loading for operational flexibility, plus restrooms on both levels and multiple private entrances.
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
$64,609
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
5.41%
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%
$1,292,180
$1.3M
Cap Rate 7%
$922,986
$923.0K
Cap Rate 9%
$717,878
$717.9K
Market Conditions
NOI Build-Up for 3,650 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
$96.4K $26.40/SF
− Vacancy
−$10.2K −$2.80/SF
EGI
$86.1K $23.60/SF
− OpEx
−$21.5K −$5.90/SF
NOI
$64.6K $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%
$1,292,180
Cap Rate 7%
$922,986
Cap Rate 9%
$717,878
Alternative Uses
Best Use
Office B
$923.0K
$807.6K – $1.08M
NOI $64,609 @ 7.0% cap · market cap 5.41%
Second Best
Warehouse
$645.4K
$564.7K – $752.9K
NOI $45,176 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,712 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,352
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91301, CA
24,790
Population
9,394
Households
2.6
Avg Household Size
45
Median Age
66%
College-Educated
97%
High-School Grad
33.1 sq mi
ZIP Area
749
Density / Sq Mi
$166,912
Median Household Income
$85,240
Median Earnings
$3,163
Median Rent
$1,096,600
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?
Flex space - Own two contiguous office-and-warehouse condominiums with ground-level loading and reserved parking for operations and headquarters use.
Where is this flex space located?
The property is located at 5210 Lewis Agoura Hills, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two contiguous commercial condominium units totaling approx. 3,650 SF (office + warehouse/flex).; Space is about 50% office and 50% warehouse/flex, with six executive offices plus conference room and kitchenette.; Ground‑level loading for operational flexibility, plus restrooms on both levels and multiple private entrances.
