Industrial Flex Condominium
For Sale
Contact for pricing
98 W Cochran St, Simi Valley, CA 93065
Flex/industrial condo in a professional business park with immediate access to Highway 118.
Property Size3,263 SF
Price / SF$355
Days on Market166
Property Features for 98 W Cochran St
General Information
Standard status
Active
Size
3,263 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Listing Agency:
Daum Commercial
(818) 887-3600
Listed By:
Taylor Jocoy · License #02049497
(818) 483-3627
Source:
Moodyscre
Added: Apr 6
Changed: Sep 17
Last Checked: Sep 16 at 5:20PM
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 Daum Commercial
Investment Insights
Based on property information with market context.
This industrial flex condominium unit is located within a professional business park environment in Simi Valley, CA. The property is designated under county land use as 2029 industrial condominium.
The site offers immediate access to Highway 118, with numerous retail amenities within walking distance.
Measuring 3,263 square feet, the unit is suited for flexible industrial and business uses consistent with its industrial condominium designation.
The site offers immediate access to Highway 118, with numerous retail amenities within walking distance.
Measuring 3,263 square feet, the unit is suited for flexible industrial and business uses consistent with its industrial condominium designation.
Key Highlights
- Flex/industrial condo in a professional business park setting
- Immediate access to Highway 118
- Walking distance to numerous retail amenities
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
$43,318
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
3.74%
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%
$866,360
$866.4K
Cap Rate 7%
$618,829
$618.8K
Cap Rate 9%
$481,311
$481.3K
Market Conditions
NOI Build-Up for 3,263 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
$72.4K $22.20/SF
− Vacancy
−$5.8K −$1.78/SF
EGI
$66.6K $20.42/SF
− OpEx
−$23.3K −$7.15/SF
NOI
$43.3K $13.28/SF
Area
Simi Valley, CA
Vacancy
8.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
35.00%
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%
$866,360
Cap Rate 7%
$618,829
Cap Rate 9%
$481,311
Alternative Uses
Best Use
Flex RnD
$618.8K
$541.5K – $722.0K
NOI $43,318 @ 7.0% cap · market cap 3.74%
Second Best
Industrial
$383.9K
$335.9K – $447.9K
NOI $26,875 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$1.06M
$928.5K – $1.24M
NOI $74,277 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93065, CA
73,943
Population
26,260
Households
2.8
Avg Household Size
41
Median Age
38%
College-Educated
92%
High-School Grad
29.8 sq mi
ZIP Area
2,481
Density / Sq Mi
$113,893
Median Household Income
$57,549
Median Earnings
$2,612
Median Rent
$759,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex/industrial condo in a professional business park with immediate access to Highway 118.
Where is this flex space located?
The property is located at 98 W Cochran St Simi Valley, CA.
What is the asking price?
The asking price for this property is $1,158,365.
What are key features of this property?
This property features: Flex/industrial condo in a professional business park setting; Immediate access to Highway 118; Walking distance to numerous retail amenities
