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    Property profile & analytics

    2488 Tapo St Simi Valley, CA 93063-2492

    • Strip malls
    • 6,300 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1454381
    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

    • Best Kitchen & Bath Renovation Simi Valley / Construction Company
    • ATM / Atm
    • Tapo Liquor & Check Cashing / Grocery & Convenience Store
    • Chiropractic Way / Alternative Medicine Practice
    • Nataraja School of Fine Arts / Training Center

    Property Details for 2488 Tapo St

    Year built
    1990
    Lot size
    0.53 lot acres
    Property size
    6,300 SF
    Zone code
    CPD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    625-0-081-010
    APU
    6250081010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,210,000
      6.5%
      $1,120,000
      7%
      $1,040,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Simi Valley
    County
    Ventura
    State
    California
    Longitude
    -118.709
    Latitude
    34.2804
    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
    $9,511
    $450,726
    $429,594
    $880,320
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,705,000
      7,680 SF

      2381 Tapo St

      SHOPPING CENTER, STRIP CENTER • 7,680 SF
      2381 Tapo St, Simi Valley, CA 93063-3082
      View Details
    • Value Estimation
      $1,365,000
      5,250 SF

      4304 Cochran St

      SHOPPING CENTER, STRIP CENTER • 5,250 SF
      4304 Cochran St, Simi Valley, CA 93063-2352
      View Details
    • Value Estimation
      $2,485,000
      17,884 SF

      2355 Tapo St

      SHOPPING CENTER, STRIP CENTER • 17,884 SF
      2355 Tapo St, Simi Valley, CA 93063-3000
      View Details
    • Value Estimation
      $4,765,000
      49,106 SF

      2325 Kuehner Dr

      SHOPPING CENTER, STRIP CENTER • 49,106 SF
      2325 Kuehner Dr, Simi Valley, CA 93063-3978
      View Details
    • Value Estimation
      $7,710,000
      8,076 SF

      2321 Tapo St

      SHOPPING CENTER, STRIP CENTER • 8,076 SF
      2321 Tapo St, Simi Valley, CA 93063-3081
      View Details
    • Value Estimation
      $5,570,000
      9,762 SF

      2760 Tapo Cyn Rd

      SHOPPING CENTER, STRIP CENTER • 9,762 SF
      2760 Tapo Cyn Rd, Simi Valley, CA 93063-2376
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      21,196 SF

      Retail Space Near Major Retailers

      Retail property with high visibility and abundant parking.
      2261-2305 Tapo St, Simi Valley, CA 93063
      View Details
    • $24 SF/Yr
      1,010 SF

      Gateway Plaza Retail Space Available

      Simi Valley retail space, 1,010 sq ft.
      2315 Kuehner Dr, Simi Valley, CA 93063
      View Details
    • Contact for pricing
      28,733 SF

      Office and Retail Space Available

      Office and retail spaces for lease.
      2780-2790 Tapo Canyon Rd, Simi Valley, CA 93063
      View Details
    • Contact for pricing
      1,080 SF

      Retail Space For Rent

      In-line retail space available for lease.
      2196-2358 Tapo St, Simi Valley, CA 93063
      View Details
    • Contact for pricing
      25,786 SF

      Simi Valley Warehouse Space Available

      Industrial warehouse space for lease in Simi Valley, California.
      4120 E Los Angeles Ave, Simi Valley, CA 93063
      View Details
    • $1.70 SF/Yr
      10,998 SF

      New Office Space in Simi

      Brand new office space with flexible floor plans available for lease.
      4115 Guardian St, Simi Valley, CA 93063
      View Details
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    2488 Tapo St
    Simi Valley, CA 93063-2492
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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.

    More about this property
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