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

    938 E Main St Santa Paula, CA 93060

    • Commercial real estate
    • 4,475 SF
    • 0.07 lot acres
    For Sale
    View listing
    $1,195,000
    Last Sale
    May 15, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1022606
    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

    • Commercial real estate

    Property Details for 938 E Main St

    Year built
    1927
    Lot size
    0.07 lot acres
    Property size
    4,475 SF
    Zone code
    CBD
    Property type
    Commercial real estate
    APN
    103-0-102-275
    APU
    1030102275

    Description

    This exceptional 4,475-square-foot commercial building presents a unique investment opportunity in the heart of Santa Paula, California. Located on Main Street, this single-story property boasts high visibility with expansive display windows and glass-inlaid doors, attracting significant foot traffic. The bright, open-concept interior features soaring ceilings, two restrooms, and a sizable upstairs loft, offering a versatile space adaptable to a wide range of commercial uses. The building's CBD zoning (per City records) allows for diverse business ventures. Convenient public parking is available both in front and rear, with alley access for deliveries. This prime location offers easy access to Santa Paula's cultural attractions, including museums and various dining and entertainment options. Its strategic position also provides proximity to Ventura beach (15 minutes away), the coastal charm of Santa Barbara, and the urban center of Los Angeles. The asking price is $1,195,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $935,000
      6.5%
      $865,000
      7%
      $805,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,495,000
      Market price range: $322k - $1.50M
      AI Estimate
      $1,153,000
      Market price range: $326k - $1.18M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $965,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,875,000
      Change: +94% Conversion: Difficult
      OFFICE BUILDING
      $1,710,000
      Change: +77% Conversion: Easy
      MEDICAL BUILDING
      $1,700,000
      Change: +76% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,675,000
      Change: +74% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,300,000
      Change: +35% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Paula
    County
    Ventura
    State
    California
    Longitude
    -119.062
    Latitude
    34.3532
    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
    $2,808
    $255,000
    $918,000
    $1,173,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.28 Acres

      521 Main St

      COMMERCIAL (GENERAL) • 0.28 Acres
      521 Main St, Santa Paula, CA 93060-2606
      View Details
    • Value Estimation by Request
      1,840 SF

      243 Steckel Dr

      COMMERCIAL (GENERAL) • 1,840 SF
      243 Steckel Dr, Santa Paula, CA 93060-3255
      View Details
    • Value Estimation by Request
      924 SF

      824 Yale St

      COMMERCIAL (GENERAL) • 924 SF
      824 Yale St, Santa Paula, CA 93060-2733
      View Details
    • Value Estimation by Request
      1,997 SF

      602 12th St

      COMMERCIAL (GENERAL) • 1,997 SF
      602 12th St, Santa Paula, CA 93060-1705
      View Details
    • Value Estimation by Request
      1,733 SF

      717 Harvard Blvd

      COMMERCIAL (GENERAL) • 1,733 SF
      717 Harvard Blvd, Santa Paula, CA 93060-3133
      View Details
    • Value Estimation by Request
      6,000 SF

      974 Main St

      COMMERCIAL (GENERAL) • 6,000 SF
      974 Main St, Santa Paula, CA 93060-2823
      View Details

    Similar Nearby for Sale

    • $1,499,000

      Industrial Property with Residential Income

      One-acre light industrial property with residential income in Santa Paula.
      870 Corporation St, Santa Paula, CA 93060
      View Details
    • $4,700,000

      M-3 Zoned Land Available

      New lot split, M-3 zoned property suitable for various uses.
      918 Mission Rock Rd, Santa Paula, CA 93060
      View Details
    • $489,000

      Commercial Land in Santa Paula

      Commercial land available for sale in Santa Paula, California.
      122 N 11Th St, Santa Paula, CA 93060
      View Details
    • $1,195,000

      Downtown Santa Paula Retail/Office Building

      Two-story commercial building in downtown Santa Paula with retail/office space.
      938 E Main St, Santa Paula, CA 93060
      View Details
    • $5,623,000
      7,752 SF

      Industrial Land Parcel with Building

      Industrial land with freeway access and a small building.
      106 E Santa Maria St, Santa Paula, CA 93060
      View Details
    • $280,000

      Land For Sale

      Land available for purchase.
      720 W Santa Maria St, Santa Paula, CA 93060
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      3,400 SF

      Historic Santa Paula Office Space

      Prime Office, 1,913 SF Available
      216 8Th St, Santa Paula, CA 93060
      View Details
    • $1.10 SF/Yr
      14,524 SF

      Santa Paula Warehouse/Distribution Space

      Freestanding building suitable for manufacturing, warehousing, or distribution.
      1780 E Lemonwood Dr, Santa Paula, CA 93060
      View Details
    • $25,000

      Santa Paula Farm Ground For Lease

      Farm ground available for lease in Santa Paula, California.
      000 Faulkner Rd, Santa Paula, CA 93060
      View Details
    • $24 SF/Yr
      2,400 SF

      Prime Santa Paula Medical Office

      1,200 SF Medical Office Space Available
      243 10Th St, Santa Paula, CA 93060
      View Details
    • $1.75 SF/Yr
      9,000 SF

      Santa Paula Office Space Available

      Second floor office space available for rent in Santa Paula.
      725 E Main St, Santa Paula, CA 93060
      View Details
    • $0.20 SF/Yr

      Santa Paula Industrial Yard Space

      Industrial yard space available for lease in Santa Paula, CA.
      815 Mission Rock Rd, Santa Paula, CA 93060
      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.
    938 E Main St
    Santa Paula, CA 93060
    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.