This exceptional Ventura, CA property at 250 S Mills Rd offers a unique blend of retail and office space, ideal for a variety of businesses. The 14,112 square foot building boasts a Class A designation and sits on a 2-acre lot, providing ample parking with 200 spaces, including above and below-ground options. Currently, 12,260 square feet is available, divisible into spaces ranging from 1,480 to 6,480 contiguous square feet. The property features high ceilings, polished concrete floors, and updated lighting throughout. Multiple entrances provide excellent access and visibility, enhanced by floor-to-ceiling windows. Its prime location across from Target, Trader Joe's, Pacific View Mall, and Mill St. shopping and restaurants ensures high traffic and visibility. The versatile space is perfect for high-end retail, showrooms, tech companies, or co-working spaces. A significant portion of the available space includes a 4,300 square foot former urgent care facility, complete with an X-ray room, waiting room, exam rooms, kitchen, and restroom. Additionally, a 1,480 square foot lower-level multi-use studio space with a kitchen is available, suitable for physical therapy, photography studios, or similar uses. The property is zoned C-1 and has an APN of 079-0-101-300. The building also features an interior elevator and convenient parking access. Large outdoor areas are available at the front, rear, and side of the building. This property presents a rare opportunity to secure a highly desirable and versatile commercial space in a thriving Ventura location.
Property Features for 250 Ml Rd
General Information
Property type
Office space
Lease Type
Gross Lease
RSF (Rentable sq. ft)
14,112 SF
Class
A
Unit(s) available at that property
Space
Suite E5
Size
1,480 SF
Space
Upper Level
Size
6,480 SF
Space
Lower Level Suite B/C/D
Size
4,300 SF
HighLights
200 secured parking spaces with new interior elevator access.
Assessor's Parcel Number (APN): 079‑0‑101‑300
14,112 square feet (SF)
Price available upon request.
2‑acre parcel.
C‑1 zoning; allows retail and personal services (e.g., spas, physical therapy).
Office space - Prime Ventura location, flexible suites available
Where is this office space located?
The property is located at 250 Ml Rd Ventura, CA.
What are key features of this property?
This property features: 200 secured parking spaces with new interior elevator access.; Assessor's Parcel Number (APN): 079-0-101-300; 14,112 square feet (SF)
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250 Ml Rd Ventura, CA 93003
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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250 Ml Rd Ventura, CA 93003
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250 Ml Rd, Ventura, CA
Bruce Milton
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250 Ml Rd, Ventura, CA
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250 Ml Rd, Ventura, CA
Bruce Milton
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