Retail Strip Mall
For Sale
$859,000
924 Main Street, Santa Paula, CA 93060
For sale retail strip mall at 924 E Main Street in Santa Paula, CA.
Property Size3,250 SF
Price / SF$264.31
Days on Market202
Property Features for 924 Main Street
General Information
Standard status
Active
Size
3,250 SF
Property subtype
General Commercial
Amenities
3
Listing Agency:
Century 21 Masters
(805) 650-0555
Listed By:
Cynthia Aguilar · License #01839891
Source:
Xome
Added: Feb 5
Changed: Aug 25
Last Checked: Aug 25 at 7:04AM
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.
This for-sale retail strip mall at 924 E Main Street in Santa Paula, CA 93060 offers a storefront-focused commercial setup in a compact neighborhood retail format.
Directions provided indicate access via North 10th Street and a left turn onto East Main Street. The property is located in Ventura County.
If you’re looking for a manageable retail facility with storefront orientation, this strip mall configuration is positioned for local retail activity along East Main Street.
Directions provided indicate access via North 10th Street and a left turn onto East Main Street. The property is located in Ventura County.
If you’re looking for a manageable retail facility with storefront orientation, this strip mall configuration is positioned for local retail activity along East Main Street.
Key Highlights
- For sale retail strip mall at 924 E Main Street in Santa Paula, CA
- County/Parish: Ventura
- Directions: Take North 10th Street, turn left onto West on East Main Street
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
$52,034
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
6.06%
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%
$1,040,680
$1.0M
Cap Rate 7%
$743,343
$743.3K
Cap Rate 9%
$578,156
$578.2K
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
$78.0K $24.00/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$74.3K $22.87/SF
− OpEx
−$22.3K −$6.86/SF
NOI
$52.0K $16.01/SF
Area
Ventura County, CA
Vacancy
4.70%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,040,680
Cap Rate 7%
$743,343
Cap Rate 9%
$578,156
Alternative Uses
Best Use
Retail
$743.3K
$650.4K – $867.2K
NOI $52,034 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 23%
Apparel 8%
Electronics 3%
Bank of America
Shops & Services
7,942 visits/mo
0.3 miles
Fosters Freeze
Dining
7,421 visits/mo
0.2 miles
Sinclair
Shops & Services
6,330 visits/mo
0.1 miles
Chevron
Shops & Services
5,000 visits/mo
0.1 miles
Goodwill
Apparel
2,506 visits/mo
0.1 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - For sale retail strip mall at 924 E Main Street in Santa Paula, CA.
Where is this strip mall located?
The property is located at 924 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: For sale retail strip mall at 924 E Main Street in Santa Paula, CA; County/Parish: Ventura; Directions: Take North 10th Street, turn left onto West on East Main Street
