Ojai Commercial Property For
For Sale
$1,350,000
996 E Ojai Ave E, Ojai, CA 93023
Commercial property with frontage on Ojai Avenue available for sale.
Property Size3,375 SF
Lot Size0.45 Acres
Days on Market267
Property Features for 996 E Ojai Ave E
General Information
Standard status
Active
Size
3,375 SF
Lot size
0.45 Acres
Property subtype
Other
Building Details
Building Size
3,375 SF
Year Built
1957
Units
1
Listing Agency:
(805) 896-5383
Listed By:
Ainsley Hughes · License #02105320
(805) 896-5383
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 22 at 9:37AM
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 Ainsley Hughes
Investment Insights
Based on property information with market context.
Located blocks from downtown Ojai, California, this commercial property features frontage on Ojai Avenue, the city's main thoroughfare. Situated on a 19,500-square-foot corner lot, the property includes a 3,375-square-foot building. The site benefits from high visibility across from the entrance to Soule Park Golf Course. Currently operating as an auto repair shop, the property is zoned C1, offering various potential uses.
Key Highlights
- Prime location on Ojai Avenue, Ojai's main road, offering high visibility.
- Large 19,500 sq ft corner lot.
- 3,375 sq ft building suitable for various commercial uses.
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
$54,035
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
4.00%
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%
$1,080,700
$1.1M
Cap Rate 7%
$771,929
$771.9K
Cap Rate 9%
$600,389
$600.4K
Market Conditions
NOI Build-Up for 3,375 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
$81.0K $24.00/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$77.2K $22.87/SF
− OpEx
−$23.2K −$6.86/SF
NOI
$54.0K $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%
$1,080,700
Cap Rate 7%
$771,929
Cap Rate 9%
$600,389
Alternative Uses
Best Use
Retail
$771.9K
$675.4K – $900.6K
NOI $54,035 @ 7.0% cap · market cap 4.00%
Second Best
Industrial
$491.4K
$430.0K – $573.4K
NOI $34,401 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,104 @ 7.0% cap · market cap 6.01%
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
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Paul's Motorcycle Repair — 204 S Fulton St, Ojai, CA 93023
- Adamson's Towing — 214 Bryant St #B, Ojai, CA 93023
- Brue Body Shop — 207 Bryant St, Ojai, CA 93023
- Two Twelve Body & Restoration — 212 Bryant St, Ojai, CA 93023
- Arcade Glass Co — 416 Bryant Cir, Ojai, CA 93023
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property with frontage on Ojai Avenue available for sale.
Where is this auto shop located?
The property is located at 996 E Ojai Ave E Ojai, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime location on Ojai Avenue, Ojai's main road, offering high visibility.; Large 19,500 sq ft corner lot.; 3,375 sq ft building suitable for various commercial uses.
