Retail Space on Ojai
For Sale
$917,000
952 E Ojai Ave, Ojai, CA 93023
Large retail space with detached storage building and parking.
Property Size2,750 SF
Lot Size0.17 Acres
Price / SF$333.45
Days on Market166
Property Features for 952 E Ojai Ave
General Information
Standard status
Active
Size
2,750 SF
Lot size
0.17 Acres
Property subtype
Commercial
Building Details
Building Size
2,750 SF
Year Built
1955
Listing Agency:
Berkshire Hathaway HomeServices California Properties
(805) 340-3774
Listed By:
Patricia Waltcher · License #01176473
(805) 340-3774
Source:
Elliman
Added: Mar 11
Changed: Aug 23
Last Checked: Aug 23 at 4:06AM
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 Berkshire Hathaway HomeServices California Properties
Investment Insights
Based on property information with market context.
This is a large retail space located on East Ojai Avenue, offering approximately 2750 square feet of space. The property includes an additional 800 square foot detached storage building with access from the parking lot and alleyway. The building has 7 parking spaces. A newer roof has been installed. The property is located just east of Park Road. It was formerly the home of The Ojai Surplus store for over 30 years. Neighboring businesses include Ojai Pub, Light & Space Yoga Studio, Magic Hour Teas, Rise Salon, and Hakane Sushi. The flexible space has potential for many different creative uses.
Key Highlights
- Large 2750 sqft retail space on East Ojai Ave.
- Includes 800 sq‑ft detached storage building.
- 7 dedicated parking spaces.
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
$44,029
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
4.80%
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%
$880,580
$880.6K
Cap Rate 7%
$628,986
$629.0K
Cap Rate 9%
$489,211
$489.2K
Market Conditions
NOI Build-Up for 2,750 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
$66.0K $24.00/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$62.9K $22.87/SF
− OpEx
−$18.9K −$6.86/SF
NOI
$44.0K $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%
$880,580
Cap Rate 7%
$628,986
Cap Rate 9%
$489,211
Alternative Uses
Best Use
Retail
$629.0K
$550.4K – $733.8K
NOI $44,029 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.1K
$826.1K – $1.10M
NOI $66,084 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Groceries 33%
Hotels & Casinos 3%
Chevron
Shops & Services
8,518 visits/mo
0.4 miles
Westridge Market Iga
Groceries
5,152 visits/mo
0.1 miles
Shell
Shops & Services
5,105 visits/mo
0.2 miles
Certified Farmers' Market
Groceries
3,200 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
1,906 visits/mo
0.2 miles
Demographics for 93023, CA
20,937
Population
9,310
Households
2.2
Avg Household Size
50
Median Age
41%
College-Educated
90%
High-School Grad
266.9 sq mi
ZIP Area
78
Density / Sq Mi
$82,298
Median Household Income
$42,389
Median Earnings
$1,831
Median Rent
$888,700
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?
Retail space - Large retail space with detached storage building and parking.
Where is this retail space located?
The property is located at 952 E Ojai Ave Ojai, CA.
What is the asking price?
The asking price for this property is $917,000.
What are key features of this property?
This property features: Large 2750 sqft retail space on East Ojai Ave.; Includes 800 sq‑ft detached storage building.; 7 dedicated parking spaces.
