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    Westlake Ave Village, CA 91362
    Property profile & analytics

    Westlake Ave, Village, CA 91362

    View on Map
    • Office buildings
    • 23,612 SF
    • 1.18 lot acres
    For Lease
    $1.50 SF/Yr
    View Listing →
    Westlake Village Office Space Available For Lease
    $1.50 SF/Yr
    22,150 SF

    Westlake Village Office Space Available

    Office suite available in central Conejo Valley location.

    5703 Corsa Avenue, Westlake, Village, CA 91362
    View Listing
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for Westlake Ave

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

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 9, 2024 — J & J Properties Corsa LLC — Deed · related $4.5M · Lexicon Bank
    Nov 24, 2015 $7,500,000 J & J Properties Corsa LLC Corsa LLC Grant Deed $5.4M · Umpqua Bank
    Sep 10, 2008 — Corsa LLC Diehl Family Trust Grant Deed $4M · Alliance Bank
    Jun 18, 1999 $1,700,000 Diehl Trust Surfware INC Grant Deed $1.4M · Mellon 1st Business Bank
    Oct 6, 1995 $1,775,000 Surfware INC Feinberg Trust Grant Deed $1.3M · First Interstate Bank Californ
    Dec 7, 1994 $1,500,000 Feinberg Trust La Budde,edward V & Billie J Trustees Deed —
    — — Diehl,tr — Deed Of Trust · related $1.7M · Safeco Life Insurance Co

    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 estimation — 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
      $16,960,000
      49,795 SF

      31121 Via Colinas

      OFFICE BUILDING
      31121 Via Colinas, Westlake Village, CA 91362-3926
      View Details
    • Value Estimation
      $4,845,000
      13,330 SF

      101 Westlake Blvd

      OFFICE BUILDING
      101 Westlake Blvd, Westlake Village, CA 91362-3806
      View Details
    • Value Estimation by Request
      1,190 SF

      3965 1000th Oaks Blvd

      PROFESSIONAL BUILDING
      3965 1000th Oaks Blvd, Westlake Village, CA 91362-3610
      View Details
    • Value Estimation by Request
      1,286 SF

      31194 La Baya Dr Ste, Unit 104

      OFFICE BUILDING
      31194 La Baya Dr Ste, Westlake Village, CA 91362-6420
      View Details
    • Value Estimation
      $515,000
      1,357 SF

      31194 La Baya Dr Ste, Unit 201

      OFFICE BUILDING
      31194 La Baya Dr Ste, Westlake Village, CA 91362-6431
      View Details
    • Value Estimation by Request
      1,286 SF

      31194 La Baya Dr Ste, Unit 204

      OFFICE BUILDING
      31194 La Baya Dr Ste, Westlake Village, CA 91362-4022
      View Details

    Similar Nearby for Sale

    • $3,900,000

      Westlake Village Office Building

      Office building for sale in Westlake Village, California.
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      View Details
    • Contact for pricing
      113,122 SF

      Westlake Village Flex Building Opportunity

      Vacant flex building in Westlake Village for sale.
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      View Details
    • Contact for pricing

      Westlake Village Office Building

      Office building in prime Westlake location near retail.
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      View Details
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      Westlake Village Industrial Facility

      16,500 sq ft industrial facility with development potential.
      Westlake Village, CA 91362
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      Furnished Office in Medical Complex

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

    Similar Nearby for Lease

    • Contact for pricing
      63,691 SF

      Westlake Village Office Space

      Office space available for lease in Westlake Village, CA.
      112 Lakeview Canyon Rd, Thousand Oaks, CA 91362
      View Details
    • $2 SF/Yr
      9,794 SF

      Class A Office Building

      Premier office building in Westlake Village, near amenities.
      200 North Westlake Blvd, Westlake Village, CA 91362
      View Details
    • Contact for pricing
      98,696 SF

      Class A Life Science Building

      Purpose-built lab space in amenity-rich Thousand Oaks location.
      120 Via Vis South, Thousand Oaks, CA 91362
      View Details
    • Contact for pricing

      Westlake Village Office Space Available

      Single tenant office space available in Westlake Village, CA.
      1 Baxter Way, Westlake Village, CA 91362
      View Details
    • $3 SF/Yr
      14,011 SF

      Westlake Village Office Space Available

      Office space for rent in ideal Westlake Village location.
      100 North Westlake Blvd, Westlake Village, CA 91362
      View Details
    • Contact for pricing

      Class A Office Project

      Scenic Class A office project in Westlake Village.
      30870 Russell Ranch Rd, Westlake Village, CA 91362
      View Details
    View Listing
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    Village, CA 91362
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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.

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