Flex Space with Warehouse
New
For Sale
$2,750,000
661 Cochran Street, Simi Valley, CA 93065
Commercial Sale, Simi Valley, CA
Property Size7,632 SF
Lot Size0.61 Acres
Price / SF$360.32
Days on Market2
Property Features for 661 Cochran Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Subdivision
SVW - Simi West
Standard status
Active
APN
6150172295
Size
7,632 SF
Lot size
0.61 Acres
Building Details
Year built
2005
Floors in Building
1
Listing Agency:
Keller Williams Exclusive Properties · Keller Williams Realty
(805) 777-7117
Listed By:
Stephen Patronete · License #00965751
(805) 522-5050
Added: Sep 10
Last Checked: Sep 11 at 4:06PM
MLS# 226004349
Copyright © 2026 Conejo Simi Moorpark Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,632-square-foot flex property at 661 Cochran Street combines front office space with a warehouse area and practical industrial improvements. The office is air conditioned, the building includes two restrooms, and the warehouse has extensive lighting. Upgraded 277/408 three-phase electrical service supports light industrial, manufacturing, construction, and other small-business uses identified for the property.
A separate enclosed 24-by-43-foot area provides additional workspace and includes a second roll-up door. The 0.61-acre property was built in 2005 and includes parking. Access to the 118 is noted as a key transportation feature, with the property located in Simi Valley, California.
A separate enclosed 24-by-43-foot area provides additional workspace and includes a second roll-up door. The 0.61-acre property was built in 2005 and includes parking. Access to the 118 is noted as a key transportation feature, with the property located in Simi Valley, California.
Key Highlights
- 7,632 SF flex property on a 0.61‑acre site
- Air‑conditioned office area at the front of the building
- 277/408 three‑phase electrical service
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
$101,319
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
3.68%
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%
$2,026,380
$2.0M
Cap Rate 7%
$1,447,414
$1.4M
Cap Rate 9%
$1,125,767
$1.1M
Market Conditions
NOI Build-Up for 7,632 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
$169.4K $22.20/SF
− Vacancy
−$13.6K −$1.78/SF
EGI
$155.9K $20.42/SF
− OpEx
−$54.6K −$7.15/SF
NOI
$101.3K $13.28/SF
Area
Simi Valley, CA
Vacancy
8.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
35.00%
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%
$2,026,380
Cap Rate 7%
$1,447,414
Cap Rate 9%
$1,125,767
Alternative Uses
Best Use
Flex RnD
$1.45M
$1.27M – $1.69M
NOI $101,319 @ 7.0% cap · market cap 3.68%
Second Best
Warehouse
$1.09M
$954.1K – $1.27M
NOI $76,328 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$2.48M
$2.17M – $2.90M
NOI $173,731 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,879
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93065, CA
73,943
Population
26,260
Households
2.8
Avg Household Size
41
Median Age
38%
College-Educated
92%
High-School Grad
29.8 sq mi
ZIP Area
2,481
Density / Sq Mi
$113,893
Median Household Income
$57,549
Median Earnings
$2,612
Median Rent
$759,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned front office, two restrooms, and upgraded three-phase power support light industrial operations.
Where is this flex space located?
The property is located at 661 Cochran Street Simi Valley, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 7,632 SF flex property on a 0.61‑acre site; Air‑conditioned office area at the front of the building; 277/408 three‑phase electrical service
