Single-Story Retail/Office
For Sale
$859,000
924 East Main Street, Santa Paula, CA 93060
Single-story building with street-facing storefront windows and rear alley access in the CBD zone.
Property Size3,250 SF
Price / SF$264.31
Days on Market164
Property Features for 924 East Main Street
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
CBD
Building Details
Stories
1
Listing Agency:
Century 21 Masters
(805) 256-5088
Listed By:
Cynthia Aguilar · License #01839891
(805) 256-5088
Source:
Compass
Added: Feb 25
Changed: Aug 7
Last Checked: Aug 7 at 8:21AM
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 Century 21 Masters
Investment Insights
Based on property information with market context.
A single-story commercial building offers expansive street-facing windows and a versatile interior suited for retail, office, or specialty use. The property includes a rear alley entrance that provides an additional point of access.
The building is located in Santa Paula’s Downtown Historic District, within a commercial corridor that includes nearby museums and entertainment options. Public parking is available both in front of and behind the building.
Zoning is CBD per city records. The layout is designed to support a storefront presence while maintaining flexibility for multiple commercial uses.
The building is located in Santa Paula’s Downtown Historic District, within a commercial corridor that includes nearby museums and entertainment options. Public parking is available both in front of and behind the building.
Zoning is CBD per city records. The layout is designed to support a storefront presence while maintaining flexibility for multiple commercial uses.
Key Highlights
- 3,250 SF single‑story commercial building (per public records) in Downtown Santa Paula
- Street‑facing storefront windows provide expansive front visibility
- Zoned CBD (per city records) with flexible interior suited for retail, office, or specialty use
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
$57,529
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
6.70%
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%
$1,150,580
$1.2M
Cap Rate 7%
$821,843
$821.8K
Cap Rate 9%
$639,211
$639.2K
Market Conditions
NOI Build-Up for 3,250 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
$85.8K $26.40/SF
− Vacancy
−$9.1K −$2.80/SF
EGI
$76.7K $23.60/SF
− OpEx
−$19.2K −$5.90/SF
NOI
$57.5K $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%
$1,150,580
Cap Rate 7%
$821,843
Cap Rate 9%
$639,211
Alternative Uses
Best Use
Office B
$821.8K
$719.1K – $958.8K
NOI $57,529 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$743.3K
$650.4K – $867.2K
NOI $52,034 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$1.12M
$976.3K – $1.30M
NOI $78,100 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93060, CA
33,859
Population
10,935
Households
3.1
Avg Household Size
35
Median Age
16%
College-Educated
67%
High-School Grad
92.4 sq mi
ZIP Area
366
Density / Sq Mi
$79,606
Median Household Income
$36,202
Median Earnings
$1,678
Median Rent
$582,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-story building with street-facing storefront windows and rear alley access in the CBD zone.
Where is this storefront property located?
The property is located at 924 East Main Street Santa Paula, CA.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: 3,250 SF single‑story commercial building (per public records) in Downtown Santa Paula; Street‑facing storefront windows provide expansive front visibility; Zoned CBD (per city records) with flexible interior suited for retail, office, or specialty use
