Building Details

Units 6

Tenancy Multi

Listing Agency: Central Coast Properties

Listed By: Curtis W. Guntner · License #CA Show Phone

Source: Crexi

Added: Feb 8, 2023 Changed: Oct 10 Last Checked: Oct 14 at 11:17PM

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Investment Insights

Based on property information with market context.

This retail center is available for purchase for the first time. The property features frontage exposure to Channel Islands Boulevard, a corridor running through the City of Oxnard and Port Hueneme, toward the Pacific Ocean and Harbor. The building's architecture incorporates Spanish Colonial Revival elements, including tile roof accents, arches, and a brick facade. The property offers value-add potential. The property has a size of 10845 square feet. This property can be purchased together with a similar property next door.

Key Highlights

• Prime retail center location with frontage exposure to Channel Islands Blvd.
• First time on the market.
• Unique Spanish Colonial Revival architecture.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$173,633

Cap Rate

6.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,472,660 $3.5M

Cap Rate 7%

$2,480,471 $2.5M

Cap Rate 9%

$1,929,256 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,845 SF

Gross rent

$260.3K $24.00/SF

− Vacancy

−$12.2K −$1.13/SF

EGI

$248.0K $22.87/SF

− OpEx

−$74.4K −$6.86/SF

NOI

$173.6K $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 Rate 5%

$3,472,660

Cap Rate 7%

$2,480,471

Cap Rate 9%

$1,929,256

Alternative Uses

Best Use

Retail

$2.48M

$2.17M – $2.89M (±1% cap)

NOI $173,633 @ 7.0% cap · market cap 6.15%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.72M

$3.26M – $4.34M (±1% cap)

NOI $260,613 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Pharmacy Electrical Service Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

311

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 93041, CA

22,918

Population

9,083

Households

2.5

Avg Household Size

34

Median Age

22%

College-Educated

81%

High-School Grad

5.9 sq mi

ZIP Area

3,884

Density / Sq Mi

$75,836

Median Household Income

$38,995

Median Earnings

$2,159

Median Rent

$555,600

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Similar For Sale Nearby

See more

Duplex with Detached Main Residence

360 N Ventura Road, Port Hueneme, CA 93041

$799,999

1,655 SF

View details

Equipped Sushi Restaurant

669 W Channel Islands Boulevard, Port Hueneme, CA 93041

$130,000

View details

Duplex with Separate Meters

117 Ann Avenue, Port Hueneme, CA 93041

$850,000

View details

Similar Off Market Nearby

• Port city plaza — Beach Port Shopping Center, N Ventura Rd, Port Hueneme, CA 93041
• Navy Exchange Main — NBVC 130 23rd Avenue, Ste. 2 Building No. 1512, 130 23rd Ave, Port Hueneme, CA 93043

Frequently Asked Questions

What type of property is this?

Shopping center - Retail center with frontage exposure on Channel Islands Blvd.

Where is this shopping center located?

The property is located at 431 W Channel Islands Blvd Port Hueneme, CA.

What is the asking price?

The asking price for this property is $2,825,000.

What are key features of this property?

This property features: Prime retail center location with frontage exposure to Channel Islands Blvd.; First time on the market.; Unique Spanish Colonial Revival architecture.