For Sale: Prime Retail Center – Rancho Simi Plaza

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Overview

PRICE: $4,500,000

CAP RATE: 5.6%

BUILDING SIZE: 12,782 sf

PROPERTY TYPE: Retail Center

Highlights

  • 78% of property is leased by national credit tenants
  • Ingress / Egress at a signalized intersection
  • Located on Simi Valley’s main street w/ 29,000 cars per day
  • Local population to grow more than 4%
  • 60 parking spaces

Property Description

SVN is proud to present: Rancho Simi Plaza located at 1542 East Los Angeles Avenue in Simi Valley, California. Rancho Simi Plaza is a 12,782 sf retail center, set on 1.19 acres of land and prominently located on the busy main street of Simi Valley.

This prime retail center is occupied by four tenants: FedEx Office, CosmoProf – Sally Beauty Supply, Layla Threading, and Claddagh Dance Company. Two national credit tenants fill 78% of the center’s total rentable space.

Appealing façade of this property with awnings and tile roof-line is clearly visible to the 29,000 daily traffic count, offering an easy access with its 3-way signalized intersection and a conveniently accessible parking. This high-density trade area location features affluent demographics: 3-mile radius exceeds 63,690 in population, while the annual household income averages approximately $120,000. The population growth is expected to exceed 4% in both the 3 and 5-mile radius.

Simi Valley is the third largest of Ventura County’s cities and is 37 miles northwest of Downtown Los Angeles. It is a short drive to some of Southern California’s most famous attractions, such as Malibu Coast and Hollywood.

Stable income of this property, along with credibility of the tenants and a great location in sunny California with its always increasing property values, make this retail center a perfect choice for a 1031 Exchange client, looking for a solid investment.

Location Description

Simi Valley is the third largest city in Ventura County and is known as the key to the county. The City provides easy access to many of California’s major freeways including I-5, 405, and US-118 which runs right through the city. Just 30 miles northwest of Los Angeles, Simi Valley has unique landmarks of history. Ronald Reagan Library is one of the most popular destination for locals and tourists.

 



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