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    502 Ojai Ave Ojai, CA 93023

    Sponsored
    For Sale
    $1,995,000

    Prime Ojai location, vacant, needs renovation.

    Property size:
    2,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity presents a vacant, iconic restaurant property situated on a half-acre lot in the heart of Ojai, California. Located at 502 W Ojai Ave, 93023, this property boasts a substantial footprint ranging from 2,300 to 3,800 square feet, offering significant potential for a variety of uses. The property is zoned Business/Professional (BP), providing flexibility for adaptive reuse. Ample parking is available with 30 spaces on-site, a significant advantage in this desirable location. The asking price is $1,995,000, reflecting a recent price reduction of $400,000, presenting a compelling investment opportunity for a buyer with vision. The property is currently vacant, allowing for immediate customization and renovation to suit the new owner's specific needs and concept. This prime location in Ventura County offers high visibility and accessibility, making it an ideal site for a thriving restaurant or other commercial venture. The seller is highly motivated, making this a truly exceptional opportunity to acquire a significant property in the vibrant Ojai market. Don't miss this chance to own a piece of Ojai's rich history and create a successful future.

    Property Features for 502 Ojai Ave

    General Information

    Property type
    Restaurants
    Square Feet
    2,300 SF
    Lot Size
    21,780 SF

    HighLights

    • $1,995,000 asking price.
    • Vacant 2,300‑3,800 square foot retail restaurant space.
    • Redevelopment opportunity in Ojai, CA.
    • 0.5‑acre lot with 30 parking spaces.
    • Business/Professional (BP) zoning.
    • Broker co‑op available.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Oaks 202 E ... Hotel

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ojai
    County
    Ventura
    State
    California
    Longitude
    -119.2517366
    Latitude
    34.4463016

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    FAQs

    What type of property is this?
    Restaurant - Prime Ojai location, vacant, needs renovation.
    Where is this restaurant located?
    The property is located at 502 Ojai Ave Ojai, CA.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: $1,995,000 asking price.; Vacant 2,300-3,800 square foot retail restaurant space.; Redevelopment opportunity in Ojai, CA.
    Request Owner's contact information
    502 Ojai Ave Ojai, CA 93023
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    Ojai, CA 93023
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    Realmo Value Estimation

    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.

    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.

    More about this property
    502 Ojai Ave Ojai, CA 93023
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