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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2493 Portola Rd Ventura, CA 93003-6459

    • Office buildings
    • 17,052 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Nov 02, 2023
    $5,580,000
    Value Estimations
    $6,735,000
    Show details
    Cap Rate Potential
    3.8%
    Office buildings
    Location Intelligence
    Property ID
    US10-1487754
    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

    • Office buildings

    Property Details for 2493 Portola Rd

    Year built
    1984
    Lot size
    1.01 lot acres
    Property size
    17,052 SF
    Zone code
    MPD
    Property type
    Office buildings
    APN
    084-0-143-105
    APU
    840143105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,400,000
      ML approach
      $7,820,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,365,000
      6.5%
      $4,955,000
      7%
      $4,600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,401,000
      Market price range: $4.38M - $8.40M
      AI Estimate
      $6,405,000
      Market price range: $1.36M - $6.41M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,805,000
      Current use
      RESTAURANT
      $8,240,000
      Change: +42% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $7,145,000
      Change: +23% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,575,000
      Change: +13% Conversion: Easy
      MEDICAL BUILDING
      $6,485,000
      Change: +12% Conversion: Easy
      AUTO REPAIR, GARAGE
      $6,390,000
      Change: +10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,050,000
      Change: +4% Conversion: Easy
      WAREHOUSE, STORAGE
      $4,960,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ventura
    County
    Ventura
    State
    California
    Longitude
    -119.225
    Latitude
    34.2507
    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
    $62,156
    $1,400,000
    $4,180,000
    $5,580,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $525,000
      2,124 SF

      6566 Beene Rd

      OFFICE BUILDING • 2,124 SF
      6566 Beene Rd, Ventura, CA 93003-7202
      View Details
    • Value Estimation
      $6,385,000
      22,491 SF

      1300 Eastman Ave

      OFFICE BUILDING • 22,491 SF
      1300 Eastman Ave, Ventura, CA 93003-8004
      View Details
    • Value Estimation
      $5,250,000
      18,144 SF

      1732 Palma Dr

      OFFICE BUILDING • 18,144 SF
      1732 Palma Dr, Ventura, CA 93003-5796
      View Details
    • Value Estimation
      $3,465,000
      12,682 SF

      5675 Ralston St

      OFFICE BUILDING • 12,682 SF
      5675 Ralston St, Ventura, CA 93003-6005
      View Details
    • Value Estimation by Request
      1.12 Acres

      3920 Main St

      OFFICE BUILDING • 1.12 Acres
      3920 Main St, Ventura, CA 93003-5241
      View Details
    • Value Estimation by Request
      1,326 SF

      129 Joanne Ave

      OFFICE BUILDING • 1,326 SF
      129 Joanne Ave, Ventura, CA 93003-2929
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      113,346 SF

      Professional Office Campus For Sale

      Office campus with significant renovations, ample parking, and security.
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      View Details
    • $3,650,000
      12,223 SF

      Ventura Medical Office Building

      Prime Ventura medical office, 12,233 sq ft
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      View Details
    • $475,000

      Remodeled Two-Level Professional Office

      Remodeled office space with modern feel, suitable for owner-user.
      4125 Market St, Ventura, CA 93003
      View Details
    • $360,000

      Ventura Flex Space For Sale

      Versatile commercial space with office and workspace in Ventura.
      2261 Palma Dr, Ventura, CA 93003
      View Details
    • $1,195,000
      3,656 SF

      Ventura Office Condominium For Sale

      Office condominium available for purchase in Ventura, California.
      1893 Knoll Dr, Ventura, CA 93003
      View Details
    • $3,650,000

      Medical/Office Building in Ventura

      Two-story, 12,233 SF medical/office building near healthcare facilities.
      3200 Telegraph Rd, Ventura, CA 93003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,112 SF

      Mid-Century Class A Office Building

      Remodeled office building with freeway access and retail amenities.
      250 S Mills Rd, Ventura, CA 93003
      View Details
    • Contact for pricing
      7,448 SF

      Ventura Office Space Available

      Three-story office building in a seven-building campus.
      1001 Partridge Dr, Ventura, CA 93003
      View Details
    • Contact for pricing

      Ventura Office Campus for Lease

      Two-story office building with on-site amenities and convenient freeway access.
      6633 Telephone Rd, Ventura, CA 93003
      View Details
    • $23 SF/Yr
      1,330 SF

      Loma Vista Road Medical Office Suite

      Prime Medical Office Space Available
      2949 Loma Vis Rd, Ventura, CA 93003
      View Details
    • $21 SF/Yr
      25,844 SF

      Ventura Office Space for Lease

      Prime Ventura location, multiple suites available.
      950 County Sq Dr, Ventura, CA 93003
      View Details
    • $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
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    2493 Portola Rd
    Ventura, CA 93003-6459
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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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