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    Property profile & analytics

    457 Ojai Ave Ojai, CA 93023

    • Commercial real estate
    • 5,619 SF
    • 0.17 lot acres
    For Sale
    View listing
    $2,450,000
    Last Sale
    Aug 31, 2021
    $1,900,000
    Value Estimations
    Cap Rate Potential
    3.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US10-1047306
    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

    • The Dutchess / Burmese Restaurant / Bakery

    Property Details for 457 Ojai Ave

    Year built
    1970
    Lot size
    0.17 lot acres
    Property size
    5,619 SF
    Zone code
    MULT
    Property type
    Commercial real estate
    APN
    023-0-110-400
    APU
    230110400

    Description

    This exceptional 0.17-acre commercial lot, located at 457 Ojai Avenue in the charming town of Ojai, California, presents a unique investment opportunity. Priced at $2,450,000, this property is zoned for general commercial use, offering a wide range of development possibilities for discerning entrepreneurs. The site's strategic location within Ojai provides excellent visibility and accessibility, making it ideal for a variety of businesses. The 0.17-acre parcel offers ample space for construction, allowing for the creation of a substantial building to suit specific business needs. Ojai's thriving economy and its reputation as a desirable destination for both residents and tourists create a strong foundation for a successful commercial venture. The property's potential is further enhanced by its proximity to local amenities, including shops, restaurants, and other businesses, ensuring high foot traffic and customer accessibility. This is a rare opportunity to acquire a prime commercial lot in a highly sought-after location, offering significant potential for long-term growth and profitability. The property is ready for development, presenting a blank canvas for a visionary entrepreneur to create a thriving business in the heart of Ojai. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The property is sold as-is.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,270,000
      ML approach
      $2,300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,544,000
      Market price range: $654k - $2.40M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,160,000
      Current use
      RESTAURANT
      $2,715,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ojai
    County
    Ventura
    State
    California
    Longitude
    -119.242
    Latitude
    34.4477
    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
    $25,566
    $468,180
    $1,508,580
    $1,976,760
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      728 SF

      145 Saint Thomas Dr

      COMMERCIAL (GENERAL) • 728 SF
      145 Saint Thomas Dr, Ojai, CA 93023-2315
      View Details
    • Value Estimation by Request
      2,078 SF

      108 Fox St

      COMMERCIAL (GENERAL) • 2,078 SF
      108 Fox St, Ojai, CA 93023-3323
      View Details
    • Value Estimation
      $760,000
      4,429 SF

      316 Matilija St

      COMMERCIAL (GENERAL) • 4,429 SF
      316 Matilija St, Ojai, CA 93023-2724
      View Details
    • Value Estimation
      $990,000
      0.17 Acres

      952 Ojai Ave

      COMMERCIAL (GENERAL) • 0.17 Acres
      952 Ojai Ave, Ojai, CA 93023-2905
      View Details
    • Value Estimation
      $805,000
      1,482 SF

      325 Ojai Ave

      COMMERCIAL (GENERAL) • 1,482 SF
      325 Ojai Ave, Ojai, CA 93023-2738
      View Details
    • Value Estimation
      $920,000
      2,400 SF

      256 Ojai Ave

      COMMERCIAL (GENERAL) • 2,400 SF
      256 Ojai Ave, Ojai, CA 93023-2737
      View Details

    Similar Nearby for Sale

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      0.26 Acres

      Ojai Commercial Building: Prime Location

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    • $2,099,000
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      Ojai Restaurant & Bakery for Sale

      Established eatery, prime downtown location.
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    • $2,450,000
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      Prime Ojai Commercial Property

      Ojai Avenue commercial lot, high potential.
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    • $1,099,000
      0.06 Acres

      Ojai Townhome: Live, Work, Thrive

      Luxury Ojai townhome, mixed-use potential.
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    • $775,000
      0.34 Acres

      Ojai Car Wash & Development Land

      Profitable Car Wash, Development Potential
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      1,312 SF

      Prime Ojai Retail & RV Park Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,092 SF

      Ojai Restaurant Space Available

      Prime Ojai location, 2,092 sq ft, Type 41 license.
      967 Ojai Ave, Ojai, CA 93023
      View Details
    • $42 SF/Yr
      3,859 SF

      Prime Ojai Retail Space Available

      Iconic Downtown Ojai Retail, 3859 SF
      202 Ojai Ave, Ojai, CA 93023
      View Details
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    457 Ojai Ave
    Ojai, CA 93023
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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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