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    Property profile & analytics

    996 Ojai Ave Ojai, CA 93023

    • Auto shops
    • 3,375 SF
    • 0.44 lot acres
    For Sale
    View listing
    $1,350,000
    Last Sale
    Apr 21, 2021
    $950,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1023840
    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

    • Ojai Valley Imports / Auto Tune Up Service / Car Repair And Maintenance Service

    Property Details for 996 Ojai Ave

    Year built
    1957
    Lot size
    0.44 lot acres
    Property size
    3,375 SF
    Zone code
    C1
    Property type
    Auto shops
    APN
    022-0-161-415
    APU
    220161415

    Description

    This exceptional commercial property presents a unique investment opportunity in the heart of Ojai, California. Located at 996 Ojai Avenue, this 0.45-acre corner lot boasts unparalleled visibility, situated directly on Ojai Avenue, the city's main thoroughfare. The property offers a substantial 19,500 square foot lot with a 3,375 square foot building, currently operating as an auto repair shop. Its prime location offers excellent exposure, directly across from the entrance to the prestigious Soule Park Golf Course, ensuring high traffic and significant brand visibility. The C1 zoning designation allows for a wide range of potential uses, making this property exceptionally versatile and adaptable to various business ventures. The existing building provides a solid foundation for immediate occupancy or redevelopment, offering flexibility for entrepreneurs and investors alike. This is a rare chance to acquire a highly visible and strategically located commercial property in the desirable and thriving town of Ojai. The property's size and location make it ideal for a variety of businesses seeking high foot traffic and excellent brand exposure in a vibrant community. Its proximity to downtown Ojai further enhances its appeal, offering easy access to local amenities and a strong customer base. Don't miss this opportunity to secure a prime commercial asset in one of California's most sought-after locations. The asking price is $1,350,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,135,000
      ML approach
      $1,165,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,669,000
      Market price range: $534k - $1.94M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,265,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,415,000
      Change: +12% Conversion: Difficult
      OFFICE BUILDING
      $1,290,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $1,285,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ojai
    County
    Ventura
    State
    California
    Longitude
    -119.235
    Latitude
    34.4488
    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
    $12,726
    $530,604
    $477,543
    $1,008,147
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $675,000
      960 SF

      829 El Roblar Dr

      AUTO REPAIR, GARAGE • 960 SF
      829 El Roblar Dr, Ojai, CA 93023-2117
      View Details
    • Value Estimation
      $305,000
      1,510 SF

      1287 Tico Rd

      AUTO REPAIR, GARAGE • 1,510 SF
      1287 Tico Rd, Ojai, CA 93023-3826
      View Details
    • Value Estimation
      $340,000
      1,968 SF

      501 Ventura St

      AUTO REPAIR, GARAGE • 1,968 SF
      501 Ventura St, Ojai, CA 93023-2663
      View Details
    • Value Estimation
      $285,000
      3,120 SF

      207 Bryant St

      AUTO REPAIR, GARAGE • 3,120 SF
      207 Bryant St, Ojai, CA 93023-3314
      View Details
    • Value Estimation
      $245,000
      1,362 SF

      204 Oak St

      AUTO REPAIR, GARAGE • 1,362 SF
      204 Oak St, Ojai, CA 93023-2716
      View Details
    • Value Estimation
      $270,000
      3,192 SF

      800 Ventura St

      AUTO REPAIR, GARAGE • 3,192 SF
      800 Ventura St, Ojai, CA 93023
      View Details

    Similar Nearby for Sale

    • $1,350,000

      Ojai Commercial Property For Sale

      Commercial property with frontage on Ojai Avenue available for sale.
      996 E Ojai Ave E, Ojai, CA 93023
      View Details
    • $775,000

      Profitable Car Wash on Two Lots

      Self-serve car wash business with long track record for sale.
      109 Fox St, Ojai, CA 93023
      View Details
    • $917,000

      Retail Space on Ojai Avenue

      Large retail space with detached storage building and parking.
      952 E Ojai Ave, Ojai, CA 93023
      View Details
    • $899,000
      Pending

      High-Visibility Commercial Property in Ojai

      Corner lot near Highways 150 and 33 with renovated structure.
      65 Baldwin Rd, Ojai, CA 93023
      View Details
    • $3,200,000
      1,312 SF

      Prime Ojai Retail & RV Park Opportunity

      Rustic Warehouse, Event Space, RV Park Potential
      317 Bryant St, Ojai, CA 93023
      View Details
    • $1,995,000
      2,300 SF

      Iconic Ojai Restaurant Redevelopment

      Prime Ojai location, vacant, needs renovation.
      502 Ojai Ave, Ojai, CA 93023
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,092 SF

      Ojai Restaurant Space Available

      Prime Ojai location, 2,092 sq ft, Type 41 license.
      967 Ojai Ave, Ojai, CA 93023
      View Details
    • $42 SF/Yr
      3,859 SF

      Prime Ojai Retail Space Available

      Iconic Downtown Ojai Retail, 3859 SF
      202 Ojai Ave, Ojai, CA 93023
      View Details
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    Ojai, CA 93023
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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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