Property profile

502 W Ojai Ave Ojai, CA 93023

FOR SALE
Turn key restaurants
Property ID
US10-1451410
2,366 SF 0.58 ac lot Built 1992
Entity Owned 8-yr Hold Free & Clear
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502 W Ojai Ave, Ojai, CA 93023 For Sale
Contact for pricing 2,366 SF
502 W Ojai Ave, Ojai, CA 93023
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Property summary

AI-generated overview

This exceptional redevelopment opportunity presents a vacant, iconic restaurant property situated on a half-acre lot in the heart of Ojai, California. Located at 502 W Ojai Ave, 93023, this property boasts a substantial footprint ranging from 2,300 to 3,800 square feet, offering significant potential for a variety of uses. The property is zoned Business/Professional (BP), providing flexibility for adaptive reuse. Ample parking is available with 30 spaces on-site, a significant advantage in this desirable location. The asking price is $1,995,000, reflecting a recent price reduction of $400,000, presenting a compelling investment opportunity for a buyer with vision. The property is currently vacant, allowing for immediate customization and renovation to suit the new owner's specific needs and concept. This prime location in Ventura County offers high visibility and accessibility, making it an ideal site for a thriving restaurant or other commercial venture. The seller is highly motivated, making this a truly exceptional opportunity to acquire a significant property in the vibrant Ojai market. Don't miss this chance to own a piece of Ojai's rich history and create a successful future.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1992
Total area 2,366 SF
Lot 0.58 ac (25,264 SF)
Zoning code BP
APN 020-0-181-080
UPID US10-1451410

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel

Location

502 W Ojai Ave Ojai, CA 93023
Ojai metro Census 901 OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$490k
CAP Approach CAP
by Request
Comparable Approach Comparable
$826k
Blend (final) Blend
$660k

Owner & transaction history

since 2018
4 recorded transactions
2018
$1.8M
2004
Price N/A
1991
$137,500
1989
$222,000

Zoning & alternative use

BP · Ojai, CA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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