Downtown Santa Paula Retail/Office
For Sale
$1,095,000
938 E Main Street, Santa Paula, CA 93060
Two-story commercial building in downtown Santa Paula with flexible layout.
Property Size4,475 SF
Days on Market342
Property Features for 938 E Main Street
General Information
Standard status
Active
Size
4,475 SF
Property subtype
Retail
Building Details
Building Size
4,475 SF
Year Built
1927
Listing Agency:
NEXT Brokerage
(805) 421-8095
Listed By:
Anselmo Alamillo Jr. · License #02250623
Source:
Truthrealty
Added: Sep 22, 2025
Changed: Aug 28
Last Checked: Aug 26 at 2:59PM
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 NEXT Brokerage
Investment Insights
Based on property information with market context.
This two-story commercial building presents a retail or office opportunity in downtown Santa Paula. The property features Main Street frontage and visibility. The layout includes ground-floor retail or showroom space and an upstairs office. Features include large display windows and updated flooring in the rear area. The property is located near restaurants, shops, and the civic center, benefiting from foot traffic and a downtown presence. It is located in a vibrant and historic community. This property may suit investors or an owner-user looking to establish their business.
Key Highlights
- Prime Downtown Santa Paula location with Main Street frontage and excellent visibility.
- Flexible two‑story layout suitable for retail, showroom, and office uses.
- High foot traffic area near restaurants, shops, and the civic center.
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
$71,647
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
6.54%
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%
$1,432,940
$1.4M
Cap Rate 7%
$1,023,529
$1.0M
Cap Rate 9%
$796,078
$796.1K
Market Conditions
NOI Build-Up for 4,475 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
$107.4K $24.00/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$102.4K $22.87/SF
− OpEx
−$30.7K −$6.86/SF
NOI
$71.6K $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%
$1,432,940
Cap Rate 7%
$1,023,529
Cap Rate 9%
$796,078
Alternative Uses
Best Use
Retail
$1.02M
$895.6K – $1.19M
NOI $71,647 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,537 @ 7.0% cap · market cap 9.82%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Two-story commercial building in downtown Santa Paula with flexible layout.
Where is this retail space located?
The property is located at 938 E Main Street Santa Paula, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Prime Downtown Santa Paula location with Main Street frontage and excellent visibility.; Flexible two‑story layout suitable for retail, showroom, and office uses.; High foot traffic area near restaurants, shops, and the civic center.
