864 New los angeles Ave
PRICE
$13,500,000
BUILDING SIZE
30,792 SF
LOT SIZE
3.22 ACRES
MOORPARK, CA 93021
CAP RATE
PRICE/SF (BLDG)
PRICE/SF
(LAND)
4.30%
$422
$93
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 864 New Los Angeles Avenue, a single tenant anchor position leased to Smart & Final Extra in Moorpark Marketplace, a trophy, newly remodeled grocery and Target anchored center. The 30,792 square foot property is situated on 3.22 acres (140,263 SF) with unmatched frontage and excellent freeway visibility, ideally located just off the California State Route 118 Ronald Reagan Freeway, in the affluent Ventura County submarket of Moorpark, CA.
Smart & Final Extra is on a long-term lease having operated at the center since 2008, more than 16 years. Smart & Final pays $46,619.47 per month ($1.51/SF) fixed through the end of their lease on 1/31/2030. They have one (1) remaining five (5)-year option to extend their lease with a 10% rent bump.
The Center benefits from exceptional visibility and frontage along both the 23 Freeway and New Los Angeles Ave. Moorpark Marketplace has almost 900 linear feet of frontage along the 23 Freeway, with traffic counts of 72,000 vehicles per day, dedicated Freeway signage, and approximately 1,700 linear feet of frontage along New Los Angeles Ave, with traffic counts of 36,500 vehicles per day.
Moorpark Marketplace is Moorpark’s premier commercial destination with a seasoned and dynamic mix of regional and national tenants that cater to the needs of the surrounding neighborhoods while also attracting regional and commuter traffic from the nearby communities of Thousand Oaks, Simi Valley, and Camarillo via the 23 & 118 Freeways.