800-888 New Los Angeles Ave
Retail | 207,300 SqFt
Marketing description
Anchored by retail-giant Target (NAP), Moorpark Marketplace is a 18.80 acre site featuring ±207,300 SF of retail space with top-brand tenants, including Denny’s, Famous Footwear, In-N-Out (NAP), Jamba Juice, Jimmy John’s, Kohl’s, Michaels, Panda Express, Smart & Final Extra, Sport Clips, T-Mobile and TJ Maxx. These retailers were drawn to this location due to the city’s superior demographics, where the average income surpasses $140,000. Accordingly, the shopping center boasts strong stability and operating history. The modest average rents offer an attractive price point now and favorable future rent-upside.
Moorpark Marketplace opened in 2004 to cater to the residents of Moorpark and nearby communities like Simi Valley, Thousand Oaks and Westlake Village. The shopping center is beautifully designed to catch the eye of its abundant affluent residents. Situated at the southwest corner of New Los Angeles Avenue and the 23 Freeway, Moorpark Marketplace has a distinctive prominence and super-convenient access in this highly-trafficked area. Simply put, there’s not another retail site similar to Moorpark Marketplace, making this a unique opportunity to take advantage and invest in this wealthy market.
Investment highlights
- Smart & Final Extra Size: 3.22 Acres Building: 30,792 Sqft. $12,500,000 (4.5% cap rate)
Annual NNN Inc. - $559,400
(under market rent)
- Kohl's (Ground Lease) Lan Size: 7.24 Acres Building: 87,011 Sqft. $11,500,000 (4% cap rate) Annual NNN Inc. - $454,300 (under market rent)
- Tj Maxx, Michaels, and Shops Lan Size: 6.08 Acres Building: 78,365 Sqft. $40,500,000 (4.9% cap rate) Annual NNN Inc. - $1,976,500 (under market rent)
- Denny's (Ground Lease) L and Size: .89 Acres Building: 4,022 Sqft.
- Panda (Ground Lease) L and Size: .73 Acres Building: 4,850 Sqft.
- Del Taco (Ground Lease) (Drive- Thru) Land Size: .58 Acres Building: 2,260 Sqft.
- Three Restaurant Pads: Denny's (Ground Lease) Panda Express (Ground Lease) Del Taco (Ground Lease, Drive-Thru) LAND SIZE : 2.2 AC (Total), BLDG SF 11,132 (Total) $10,500,000 (4% cap rate) Annual NNN Inc. - $419,800 (under market rent)
- Completed new construction exterior remodel September 2023.
- Incredible Property Upside Potential: Kohl’s monthly rent $0.43 /sqft.
- The monthly rent for the majority of the other on-site tenants leases are significantly below the market rent by approximately $50,000 per month.
- Dominant Regional Shopping Destination strategically located in one of Southern California’s most affluent communities, which boasts upscale planned developments, attractive suburban amenities, good schools, and lifestyle.
- Excellent Tenant Mix including Smart & Final Extra, TJ Maxx, Panda Express, Denny’s, Jamba Juice, & Jimmy Johns
- Financial Upside Potential with Kohl’s and Junior Box tenants (see Rent Roll)
- ±900 feet of Fwy Frontage, strategically located off the Ronald Reagan Freeway
- Strong Operating History with stable historical occupancy
- Exceptionally Maintained asset with beautiful architecture & no near term capital requirements
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
