Freestanding Office Building with
For Sale
Contact for pricing
5707 Corsa Ave, Westlake Village, CA 91362
Freestanding office building offering up to 10,038 SF deliverable space and secure subterranean parking plus 61 lot spaces.
Property Size22,068 SF
Price / SF$316.97
Days on Market64
Property Features for 5707 Corsa Ave
General Information
Standard status
Active
Size
22,068 SF
Class
B
Total Parking Spaces
84
Property subtype
Retail, Office
Zoning
BP, Westlake Village
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1981
Year Renovated
2021
Stories
2
Tenancy
Multi
Listing Agency:
Lee & Associates - LA North - Sherman Oaks
Listed By:
Warren Berzack · License #CA 01329015
(818) 986-9800
Source:
Crexi
Added: Jul 15
Changed: Sep 11
Last Checked: Sep 15 at 4:15AM
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 Lee & Associates - LA North - Sherman Oaks
Investment Insights
Based on property information with market context.
This freestanding office building is offered for sale with up to 10,038 SF of deliverable space, presenting an option for an owner-user or an investment opportunity. The property includes a 23-car secure subterranean parking garage, with additional parking provided by 61 spaces in the lot.
The building’s on-site parking configuration supports day-to-day accessibility for employees and visitors, while the secure subterranean garage adds dedicated capacity for stored vehicles.
Interested parties can request a marketing package by contacting Mike and Warren.
The building’s on-site parking configuration supports day-to-day accessibility for employees and visitors, while the secure subterranean garage adds dedicated capacity for stored vehicles.
Interested parties can request a marketing package by contacting Mike and Warren.
Key Highlights
- Freestanding office building with up to 10,038 SF deliverable space
- 23‑car secure subterranean parking garage
- Additional 61 parking lot spaces
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
$390,630
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
5.58%
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%
$7,812,600
$7.8M
Cap Rate 7%
$5,580,429
$5.6M
Cap Rate 9%
$4,340,333
$4.3M
Market Conditions
NOI Build-Up for 22,068 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
$582.6K $26.40/SF
− Vacancy
−$61.8K −$2.80/SF
EGI
$520.8K $23.60/SF
− OpEx
−$130.2K −$5.90/SF
NOI
$390.6K $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%
$7,812,600
Cap Rate 7%
$5,580,429
Cap Rate 9%
$4,340,333
Alternative Uses
Best Use
Office B
$5.58M
$4.88M – $6.51M
NOI $390,630 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.58M
$6.63M – $8.84M
NOI $530,310 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,358
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?
Office building - Freestanding office building offering up to 10,038 SF deliverable space and secure subterranean parking plus 61 lot spaces.
Where is this office building located?
The property is located at 5707 Corsa Ave Westlake Village, CA.
What is the asking price?
The asking price for this property is $6,995,000.
What are key features of this property?
This property features: Freestanding office building with up to 10,038 SF deliverable space; 23‑car secure subterranean parking garage; Additional 61 parking lot spaces
