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    461 Central Ave Fillmore, CA 93015
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    Property profile & analytics

    461 Central Ave, Fillmore, CA 93015

    View on Map
    • Hotels
    • 32,720 SF
    • 1.08 lot acres
    Off-Market
    Property ID
    US10-1448949
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fillmore Chapel / Wedding Service
    • Andrango LLC / Restaurant

    Property Details for 461 Central Ave

    Year built
    1888
    Lot size
    1.08 lot acres
    Property type
    Hotels
    APN
    053-0-042-275

    Description

    Prime Ventura County investment opportunity: A beautifully appointed, historic mission-style building (32,720 sq ft) on nearly 1.08 acres in Fillmore, CA, is available for $5,950,000. Currently operating as a successful wedding venue under a triple-net lease with Wedgewood Weddings, projecting over 400 weddings in the next four years, this property offers significant upside potential. A portion of the building, totaling approximately 12,000 square feet, is adaptable for conversion into a 40-room boutique hotel, capitalizing on the existing wedding venue's built-in demand. The property boasts a 2,320 sq ft basement, suitable for a speakeasy, spa, or other amenity, and a 3,000 sq ft courtyard ideal for a pool. Built between 1888 and 1929, and renovated in 2021, this two-story landmark enjoys excellent visibility on a corner lot at Central Avenue and 1st Street. Its convenient location between Ventura and Santa Clarita, near the Fillmore & Western Railway ("The Movie Train"), and within walking distance of downtown Fillmore's restaurants, shops, parks, and historical museum, ensures strong appeal. The property is located along the Santa Clara River and State Highway 126, within an hour of Los Angeles and Santa Barbara. This fee-simple offering presents a unique blend of established income and significant development potential in a desirable Southern California location. The property features 40 keys.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fillmore
    County
    Ventura
    State
    California
    Longitude
    -118.9143671
    Latitude
    34.4018375

    Comparable in this City

    • $1,200,000

      Highway Frontage Commercial Land Opportunity

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      Historic Fillmore Mixed-Use Property

      Charming 1928 property in Fillmore's business district.
      362 Central Ave, Fillmore, CA 93015
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    • $275,000
      900 SF

      751-A Ventura St

      Restaurant
      751-A Ventura St, Fillmore, CA 93015
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    • $875,000
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      Fillmore Freestanding Office Building

      Two-story office building in downtown Fillmore with high visibility.
      606 Sespe Ave, Fillmore, CA 93015
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    • $220,000

      320 Acres in Ventura County

      Large land parcel with potential for open space use.
      1 E Guiberson Rd, Fillmore, CA 93015
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Highway Frontage Commercial Land Opportunity

      Rare commercial land with existing home, highway frontage, multiple uses.
      3851 Pacific Ave, Fillmore, CA 93015
      View Details
    • Contact for pricing

      Historic Fillmore Mixed-Use Property

      Charming 1928 property in Fillmore's business district.
      362 Central Ave, Fillmore, CA 93015
      View Details
    • $275,000
      900 SF

      751-A Ventura St

      Restaurant
      751-A Ventura St, Fillmore, CA 93015
      View Details
    • $875,000
      6,030 SF

      Fillmore Freestanding Office Building

      Two-story office building in downtown Fillmore with high visibility.
      606 Sespe Ave, Fillmore, CA 93015
      View Details
    • $220,000

      320 Acres in Ventura County

      Large land parcel with potential for open space use.
      1 E Guiberson Rd, Fillmore, CA 93015
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,580 SF

      Retail Space on Ventura Street

      Retail spaces available in Fillmore, California, on Ventura Street.
      Swc Ventura St And C St, Fillmore, CA 93015
      View Details
    • $2 SF/Yr
      2,900 SF

      Retail Space at Signalized Intersection

      Retail space available at a signalized intersection on Ventura Street.
      Swc Ventura St Hwy 126 /C St, Fillmore, CA 93015
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    • Contact for pricing

      Downtown Fillmore Retail Space

      Retail space available in downtown Fillmore on Central Avenue.
      334 Central Ave, Fillmore, CA 93015
      View Details
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    Fillmore, CA 93015
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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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