3175 Old Conejo Rd, Unit 24, Thousand Oaks, CA 91320-2151
- Office Spaces
- 4,565 SF
Current Use by Public Records
- Tina Klaas - State Farm Insurance Agent / Insurance Agency
- Private Investigations / Law Firm / Security Service
- Clones Ventura County / Corporate Office
- System Pavers / General Contractor / Construction Company
- Larry Melchor Realtor / Real Estate Agency
Property Details for 3175 Old Conejo Rd
- Year built
- 2008
- Property type
- Office Spaces
- APN
- 668-0-370-015
- APU
- 6680370015
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 10, 2019 | $1,325,000 | Blue Knight Global Svcs INC | Ck Thousand Oaks LLC | Grant Deed | — |
| Oct 22, 2014 | $1,239,500 | Ck Thousand Oaks LLC | Younan Properties INC | Grant Deed | $779k · Younan Properties INC |
| Sep 19, 2014 | $701,500 | Younan Properties INC | Wendy Road Office Dev LLC | Grant Deed | — |
| Jul 1, 2010 | $20,000,000 | Wendy Road Office Dev LLC | Asset Foreclosure Svcs INC | Trustees Deed · related | — |
Description
This exceptional two-story, 6,523 square foot office building in Thousand Oaks, California presents a compelling investment opportunity. Located at 3175 Old Conejo Rd, 91320, this Class B property boasts a desirable location just off the 101 Freeway, offering convenient access and high visibility. Built in 2008, the building features a single structure with an elevator and ample parking (24 spaces per 1,000 sq ft). The property is currently 84% occupied as of February 6, 2023, with a pro-forma NOI of $109,990 and a 5.00% cap rate. Each suite is individually metered for electricity and benefits from a separate HVAC system, ensuring efficient energy management and tenant comfort. The building's design is bright and airy, with every suite enjoying a corner location. Leases include annual rent bumps, utilizing AIR lease forms. Importantly, there is no deferred maintenance. Two second-floor suites are available for immediate occupancy, presenting an ideal opportunity for an owner-user. This stabilized investment offers a strong cash flow with the potential for future growth. The property's features include executive and traditional office spaces, making it suitable for a variety of tenants. The building is well-maintained and offers a comfortable and productive work environment.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,880,000
- 6.5%
- $1,735,000
- 7%
- $1,610,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,066,000
Market price range: $219k - $1.73M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $2,085,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $1,915,000 Change: -8% Conversion: Difficult
- MEDICAL BUILDING
- $1,735,000 Change: -17% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,710,000 Change: -18% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Thousand Oaks
- County
- Ventura
- State
- California
- Longitude
- -118.943
- Latitude
- 34.1906
- CBSA code
- 37100
- CBSA name
- OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA
