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    Property profile & analytics

    5898 Condor Dr, Unit | Moorpark Moorpark, CA 93021

    • Commercial real estate
    • 129,646 SF
    For Lease
    View listing
    $1.00 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0642729
    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

    • Alare Technologies / Corporate Office
    • CheerForce Central Valley / Dance School / Gymnastics Center
    • Sewage Damage Extractions / Water Damage Restoration Service
    • Moorpark Hauling & Junk Removal / Garbage Collection Service
    • CheerForce Simi Valley / Gymnastics Center / Sports School

    Property Details for 5898 Condor Dr

    Property size
    129,646 SF
    Property type
    Commercial real estate

    Description

    This exceptional executive office space, located within the prestigious Condor Technology Center in Moorpark, California, offers 4,183 square feet of immediately available space. Situated at 5898 Condor Drive, 93021, this property is part of a larger 129,646 square foot building featuring multiple tenancies. The suite is ideal for businesses requiring significant space and boasts heavy power capabilities, a crucial asset for technology-focused companies or those with high energy demands. The building's location in the Simi Valley/Moorpark submarket of Ventura County provides convenient access to major transportation routes and a thriving business community. The property type is classified as an office building with a subtype of both Executive and Professional Office. This presents a unique opportunity for a company seeking a prominent and well-equipped workspace in a desirable location. The ample square footage allows for flexible configuration to suit diverse business needs. Interested parties are encouraged to inquire about lease terms and explore the potential of this prime Moorpark office space. The property is ready for immediate occupancy. This is a multi-tenant building, offering a collaborative and dynamic work environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Moorpark
    County
    Ventura
    State
    California
    Longitude
    -118.8547648
    Latitude
    34.2889506

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      Moorpark R&D Facility For Lease

      High image R&D facility with inexpensive office suites for lease.
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    Similar Nearby for Sale

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      Moorpark Free Standing Office Building

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    • Contact for pricing
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      Moorpark Agricultural Land Investment

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    Similar Nearby for Lease

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      Patriot Professional Plaza: Medical Office Space

      Ventura County medical office suites available. Multiple sizes, immediate occupancy.
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      View Details
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      Moorpark Freestanding Office/Medical Building

      Freestanding office/medical building in Moorpark, no common areas.
      860 Patriot Dr, Moorpark, CA 93021
      View Details
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      Moorpark Freestanding Office/Medical Building

      Freestanding office/medical building with no common areas for rent.
      830 Patriot Dr, Moorpark, CA 93021
      View Details
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      Moorpark Office Suite For Rent

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    • $1.00 SF/Yr
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      Moorpark R&D Facility For Lease

      High image R&D facility with inexpensive office suites for lease.
      5898 Condor Dr, Moorpark, CA 93021
      View Details
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    Moorpark, CA 93021
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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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