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    2045 Royal Ave Simi Valley, CA 93065
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    Property profile & analytics

    2045 Royal Ave, Simi Valley, CA 93065

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    • Medical Office Space
    • 20,681 SF
    • 1.66 lot acres
    For Lease
    $2 SF/Yr
    View Listing →
    Renovated Office Space Available For Lease
    $2 SF/Yr
    24,417 SF

    Renovated Office Space Available

    Recently renovated office space with fiber optic service in Simi Valley.

    2045 Royal Ave, Simi Valley, CA 93065
    View Listing
    Property ID
    US10-1463542
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sahar Yaftaly, DMD / Dental Office
    • Joe Cheng, D.D.S. / Dental Office
    • Dr. Maria Dolores C. Austria, DDS - Gentle Touch & Family Caring Dentist in Simi Valley / Dental Office
    • Digiacinto Dov Josie DDS / Dental Office
    • Dr. Vernon M. Lee, DMD / Dental Office

    Property Details for 2045 Royal Ave

    Year built
    1979
    Lot size
    1.66 lot acres
    Zone code
    C0
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    638-0-290-190
    APU
    6380290190

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 14, 2023 — Royal Sv LLC — Deed · related $3.4M · Summit State Bank
    May 26, 2017 $6,500,000 Royal Sv LLC Royal Properties LLC Grant Deed $4.5M · Tcf National Bank
    Aug 19, 2008 $4,800,000 Royal Properties LLC Kasco Grant Deed $3.8M · California Bank & Trust
    Jul 17, 2008 — Kasco Charitable Remainder Kasco Quit Claim Deed —
    Jan 17, 1995 $755,227 Whba Real Estate LP Bibo INC Trustees Deed —
    May 21, 1990 $1,700,000 Nakama Charles Bibo INC Grant Deed · related —
    — — Royal Properties LLC — Loan Modification · related $3.3M · California Bank & Trust
    — — Kasco — Deed Of Trust · related $1.5M · United Commercial Bank

    Description

    This exceptional medical office building, the Royal Medical Plaza, located at 2045 Royal Ave, Simi Valley, CA 93065, offers 12,613 square feet of prime space in the Simi Valley/Moorpark submarket of Ventura County. The property features six suites, with multiple tenancy options available. Currently, there are 7,136 square feet of vacant space ready for immediate occupancy. Individual suites range from a minimum of 459 square feet to a maximum contiguous space of 1,870 square feet, providing flexibility for practices of various sizes. The building is equipped with elevators for convenient access. This location provides excellent visibility and accessibility for patients and staff, making it an ideal setting for medical professionals seeking a thriving practice environment in a well-established community. The property is categorized as an office building with a medical office subtype. Interested parties are encouraged to inquire about lease terms and available suite configurations. This is a fantastic opportunity to establish or expand your medical practice in a desirable Simi Valley location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,220,000
      6.5%
      $4,820,000
      7%
      $4,475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,823,000
      Market price range: $1.84M - $6.44M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $7,865,000
      Current use
      OFFICE BUILDING
      $7,905,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,745,000
      Change: -1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,955,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Simi Valley
    County
    Ventura
    State
    California
    Longitude
    -118.758
    Latitude
    34.2616
    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
    $78,077
    $1,430,000
    $5,070,000
    $6,500,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
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      1633 Erringer Rd

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    • Value Estimation
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      7,155 SF

      1987 Royal Ave

      MEDICAL BUILDING
      1987 Royal Ave, Simi Valley, CA 93065-4655
      View Details
    • Value Estimation
      $6,350,000
      28,093 SF

      2950 Sycamore Dr

      MEDICAL BUILDING
      2950 Sycamore Dr, Simi Valley, CA 93065-1232
      View Details
    • Value Estimation by Request
      1.99 Acres

      3051 Sycamore Dr

      MEDICAL BUILDING
      3051 Sycamore Dr, Simi Valley, CA 93065
      View Details
    • Value Estimation
      $2,105,000
      9,743 SF

      1755 Erringer Rd

      MEDICAL BUILDING
      1755 Erringer Rd, Simi Valley, CA 93065-6507
      View Details

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    Simi Valley, CA 93065
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    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.

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