Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5703 Corsa Ave Westlake Village, CA 91362

    • Office buildings
    • 23,612 SF
    • 1.18 lot acres
    For Lease
    View listing
    $1.95 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6729259
    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

    • Office buildings

    Property Details for 5703 Corsa Ave

    Year built
    1981
    Construction
    TILT-UP CONCRETE
    Lot size
    1.18 lot acres
    Property size
    23,612 SF
    Zone code
    WVM1*
    Property type
    Office buildings
    APN
    2054-029-043
    APU
    2054029043

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,720,000
      6.5%
      $8,970,000
      7%
      $8,330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,156,000
      Market price range: $6.08M - $15.9M
      AI Estimate
      $5,409,000
      Market price range: $990k - $8.94M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $10,785,000
      Current use
      AUTO REPAIR, GARAGE
      $10,920,000
      Change: +1% Conversion: Difficult
      MEDICAL BUILDING
      $10,735,000
      Change: -0% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $9,885,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $9,050,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Westlake Village
    County
    Los Angeles
    State
    California
    Longitude
    -118.8
    Latitude
    34.1555
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, 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
    2024
    $73,502
    $2,089,052
    $4,114,275
    $6,203,327
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $610,000
      1,800 SF

      3021 1000th Oaks Blvd

      OFFICE BUILDING • 1,800 SF
      3021 1000th Oaks Blvd, Thousand Oaks, CA 91362-3402
      View Details
    • Value Estimation
      $5,240,000
      15,031 SF

      3960 1000th Oaks Blvd

      PROFESSIONAL BUILDING • 15,031 SF
      3960 1000th Oaks Blvd, Westlake Village, CA 91362-3623
      View Details
    • Value Estimation
      $4,125,000
      11,769 SF

      2860 1000th Oaks Blvd

      OFFICE BUILDING • 11,769 SF
      2860 1000th Oaks Blvd, Thousand Oaks, CA 91362-3201
      View Details
    • Value Estimation by Request
      1,286 SF

      31194 La Baya Dr Ste, Unit 200

      OFFICE BUILDING • 1,286 SF
      31194 La Baya Dr Ste, Westlake Village, CA 91362-6430
      View Details
    • Value Estimation
      $22,040,000
      71,464 SF

      31255 Cedar Vly Dr

      OFFICE BUILDING • 71,464 SF
      31255 Cedar Vly Dr, Westlake Village, CA 91362-4014
      View Details
    • Value Estimation
      $755,000
      3,096 SF

      31192 La Baya Dr

      OFFICE BUILDING • 3,096 SF
      31192 La Baya Dr, Westlake Village, CA 91362-4021
      View Details

    Similar Nearby for Sale

    • $3,900,000
      12,000 SF

      Westlake Village Office Building

      Office building for sale in Westlake Village, California.
      31351 Via Colinas, Westlake Village, CA 91362
      View Details
    • $28,280,000
      113,122 SF

      Westlake Village Flex Building Opportunity

      Vacant flex building in Westlake Village for sale.
      4553 La Tienda Rd, Westlake Village, CA 91362
      View Details
    • Contact for pricing
      12,200 SF

      Westlake Village Office Building

      Office building in prime Westlake location near retail.
      128 Auburn Ct, Westlake Village, CA 91362
      View Details
    • Contact for pricing

      Westlake Village Industrial Facility

      16,500 sq ft industrial facility with development potential.
      Westlake Village, CA 91362
      View Details
    • New
      $875,000
      1,647 SF

      Westlake Village Office Condo Investment

      Prime first-floor office condo in a professionally managed complex.
      141 Duesenberg Dr, Thousand Oaks, CA 91362
      View Details
    • Contact for pricing
      12,200 SF

      Furnished Office in Medical Complex

      Private, furnished office space suitable for therapy or counseling.
      128 Auburn Ct, Thousand Oaks, CA 91362
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      131,087 SF

      Westlake Village Office Campus

      Master-planned office campus with outdoor amenities and freeway access.
      250-370 N Westlake Blvd, Westlake Village, CA 91362
      View Details
    • $2 SF/Yr
      6,427 SF

      Westlake Village Office Space

      Office building for lease in Westlake Village, California.
      1400 N Westlake Blvd, Westlake Village, CA 91362
      View Details
    • $3 SF/Yr
      78,000 SF

      Westlake Village Two-Story Office Building

      Two-story office building near restaurants, shops, and retail amenities.
      30700 Russell Ranch Rd, Westlake Village, CA 91362
      View Details
    • $2 SF/Yr
      131,087 SF

      Westlake Office Park: Executive Suites

      Prime Thousand Oaks Office Space Available
      250 Westlake Blvd, Thousand Oaks, CA 91362
      View Details
    • $28 SF/Yr
      99,463 SF

      Westlake Village Executive Office Space

      Class A Office, 99,463 SF Available
      5601 Lindero Canyon Rd, Westlake Village, CA 91362
      View Details
    • $24 SF/Yr
      23,860 SF

      Westlake Atrium Executive Suites

      Prime Westlake Office Space Available
      31225 La Baya Dr, Westlake Village, CA 91362
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5703 Corsa Ave
    Westlake Village, CA 91362
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.