Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1587 Morse Ave Ventura, CA 93003

    • Industrial properties
    • 10,242 SF
    • 0.54 lot acres
    For Lease
    View listing
    $11 SF/Yr
    Value Estimations
    $350,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1484686
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 1587 Morse Ave

    Year built
    1977
    Lot size
    0.54 lot acres
    Property size
    10,242 SF
    Zone code
    M1
    Property type
    Industrial properties
    APN
    138-0-181-165
    APU
    1380181165

    Description

    This exceptional 1,748-square-foot traditional office space in Ventura, California, presents a fantastic opportunity for businesses seeking a well-appointed workspace. Located at 1587 Morse Ave, Ventura, CA 93003, this multi-tenant property offers a versatile layout ideal for various business needs. The space includes a large, open bullpen area perfect for collaborative work, complemented by three private offices providing individual workspaces or meeting rooms. Two restrooms ensure convenient access for employees and clients. Ample storage space is also available, addressing the organizational needs of any business. The property's strategic location offers easy access to major transportation arteries, including the 101 and 126 Freeways, minimizing commute times and enhancing logistical efficiency. Furthermore, its proximity to a variety of restaurants and shopping centers provides employees with convenient amenities and fosters a vibrant work environment. This Ventura County office space is ready for immediate occupancy. The property is situated in Ventura, California, within easy reach of local conveniences and major transportation routes. This is a traditional office space with multiple tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $307,000
      Market price range: $308k - $611k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ventura
    County
    Ventura
    State
    California
    Longitude
    -119.244
    Latitude
    34.2593
    CBSA code
    37100
    CBSA name
    OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,707
    $248,615
    $440,989
    $689,604
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $345,000
      940 SF

      2745 Sherwin Ave, Unit A11

      CONDOMINIUMS (INDUSTRIAL) • 940 SF
      2745 Sherwin Ave, Ventura, CA 93003-7241
      View Details
    • Value Estimation
      $370,000
      980 SF

      2317 Palma Dr, Unit 10

      CONDOMINIUMS (INDUSTRIAL) • 980 SF
      2317 Palma Dr, Ventura, CA 93003-5748
      View Details
    • Value Estimation
      $365,000
      980 SF

      2261 Palma Dr, Unit 12

      CONDOMINIUMS (INDUSTRIAL) • 980 SF
      2261 Palma Dr, Ventura, CA 93003-5747
      View Details
    • Value Estimation
      $330,000
      940 SF

      2754 Sherwin Ave Ste, Unit 2

      CONDOMINIUMS (INDUSTRIAL) • 940 SF
      2754 Sherwin Ave Ste, Ventura, CA 93003-8502
      View Details
    • Value Estimation
      $310,000
      1,092 SF

      2100 Goodyear Ave Ste, Unit 6

      CONDOMINIUMS (INDUSTRIAL) • 1,092 SF
      2100 Goodyear Ave Ste, Ventura, CA 93003-7749
      View Details
    • Value Estimation
      $820,000
      18,581 SF

      1868 Palma Dr

      MULTI-TENANT INDUSTRIAL BUILDING • 18,581 SF
      1868 Palma Dr, Ventura, CA 93003-6300
      View Details

    Similar Nearby for Sale

    • $2,750,000
      2.29 Acres

      Ventura Industrial Land - $2.75M

      Prime Ventura warehouse land, 2.3 acres, MPD zoning.
      0 Dupont Ct, Ventura, CA 93003
      View Details
    • Contact for pricing
      64,251 SF

      Ventura Redevelopment Opportunity

      5-Acre Industrial Flex Space, Ventura, CA
      1655 Mesa Verde Ave, Ventura, CA 93003
      View Details
    • $1,950,000
      8,427 SF

      Ventura Industrial Property Investment

      8,427 SF Flex Space, High Demand
      3775 Market St, Ventura, CA 93003
      View Details
    • $1,100,000
      3,022 SF

      Ventura Industrial Condo - $1.1M

      Prime Ventura flex space; 3,022 sq ft, ideal owner-user.
      2368 Eastman Ave, Ventura, CA 93003
      View Details
    • Contact for pricing
      2,154 SF

      Ventura Warehouse: 2 Units Available

      Industrial warehouse, 2,154 sq ft, Ventura, CA
      4848 Colt St, Ventura, CA 93003
      View Details
    • $1,646,000
      4,390 SF

      Ventura Industrial Condo For Sale

      Industrial condo available for sale or lease in Ventura.
      4125 Market St, Ventura, CA 93003
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      4,932 SF

      Ventura Flex Space: Prime Location

      Modern flex space, Ventura, CA. Multiple units available.
      4601 Market St, Ventura, CA 93003
      View Details
    • $1.40 SF/Yr
      5,638 SF

      Industrial Unit in Ventura

      Industrial unit available for lease in Ventura, California.
      2005 Palma Dr, Ventura, CA 93003
      View Details
    • $3,680 /Mo

      Industrial Space with Mezzanine

      Industrial space for lease featuring mezzanine and ground-level doors.
      1792 Callens Rd, Ventura, CA 93003
      View Details
    • $4,500 /Mo

      Ventura Warehouse Space Available

      Warehouse space for lease in Ventura, California.
      2215 Palma Dr, Ventura, CA 93003
      View Details
    • $18 SF/Yr
      17,383 SF

      Donlon Street Industrial Units

      Ventura, CA: New Industrial Space Available
      1763 Donlon St, Ventura, CA 93003
      View Details
    • $21 SF/Yr
      64,134 SF

      Eastman Avenue Office Complex

      Ventura Office/Warehouse Space Available
      1923 Eastman Ave, Ventura, CA 93003
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1587 Morse Ave
    Ventura, CA 93003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.