2355 Tapo St Simi Valley, CA 93063-3000

This exceptional 16,899 square foot retail shopping center in Simi Valley, CA, presents a compelling value-add investment opportunity. Located at 2355 Tapo St, this single-story, 1988-built property sits on a 62,290 square foot lot and boasts a 6.40% cap rate with a current NOI of $168,969. Currently 78% occupied by a diverse mix of restaurant, health, and service tenants, the property offers significant upside potential through lease-up of the remaining 22% vacant space, rent increases, and below-market rents rolling to market. Projected NOI increases of approximately $167,000 are anticipated during the projected hold period. The property benefits from its prime location in a daily needs retail corridor, proximate to the Ronald Reagan Freeway (approximately 126,100 cars per day), a Walmart-anchored shopping center undergoing a major redevelopment, and dense residential communities. This redevelopment project, located directly across the street, includes approximately 280 multi-family units, a community park, and a resident-only parking garage, further enhancing the property's long-term value and potential. The asking price is $2,640,000 ($156 per square foot). The property features rent bumps and is not subject to a ground lease. APN: 618-0-160-335. This is a rare opportunity to acquire a high-quality retail investment in a thriving market with significant growth potential.