450 American St Simi Valley, CA 93065-6285
- Office buildings
- 20,660 SF
- 8.15 lot acres
Current Use by Public Records
- Office buildings
Property Details for 450 American St
- Year built
- 1990
- Lot size
- 8.15 lot acres
- Property size
- 20,660 SF
- Zone code
- BP-S
- Property type
- Office buildings
- APN
- 615-0-160-305
- APU
- 6150160305
Description
This exceptional Simi Valley, CA office complex, located at 450 American St, 93065, offers 209,404 square feet of space in a Class B building constructed in 1990 and renovated in 2000. Currently fully leased to Bank of America under an NNN lease expiring December 2025, this property boasts a strong 11.10% cap rate and a substantial NOI of $3,318,636. The single-story building sits on a sprawling 12.5 acres and features a generous parking ratio of 5.5 spaces per 1,000 rentable square feet. Zoned BP-SP, this property presents a unique investment opportunity. Investors can leverage the existing lease with Bank of America (S&P: A+; NYSE: BAC) while planning for future repositioning as a corporate headquarters or owner-user space. The property's strategic location in Ventura County offers excellent regional accessibility. Originally built as an industrial building, it was converted to office space, retaining high ceilings and an open layout. The asking price is $29,900,000 and is offered as a 1031 exchange opportunity. The APN is 615-0-500-045, 615-0-500-035, 615-0-500-015, and 615-0-500-025.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Simi Valley
- County
- Ventura
- State
- California
- Longitude
- -118.786
- Latitude
- 34.2874
- CBSA code
- 37100
- CBSA name
- OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA
