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Shopping Strip

2311 Tapo St

2311 Tapo St, Simi Valley, CA 93063

Listing Price: $7,500,000

Cap Rate
6.84%
Gross SF
25,990
Rentable SF
25,990
Price/Gross SF
$288.57
Lot Size
2.38 acres
Year Built
1976

Investment Overview

A 25,990 square foot NNN shopping center currently 89% occupied shadow anchored by McDonald’s directly off the California State Route 118 Freeway with direct freeway access ideally situated on 2.38 acres of land in Simi Valley, CA Marcus & Millichap has been selected to exclusively represent for sale the Tapo Oaks Center, a 25,990-square-foot shopping center ideally situated on approximately 103,557 square feet (2.38 acres) of land in Simi Valley, California. Tapo Oaks Center is located on Tapo Street, just south of the Southwest signalized intersection of Cochran Street and Tapo Street, two of the major retail thoroughfares through Simi Valley. Tapo Oaks Center is located one block south of the 118 Ronald Reagan Freeway, the main freeway that runs through Simi Valley, which connects Interstate 23, the 101 Ventura Freeway, Interstate 5 California Golden State Freeway, Interstate 405 San Diego Freeway, and the 210 Foothill Freeway. Tapo Oaks Center is shadow anchored by McDonald’s and located directly across from Santa Susana Plaza, home to an excellent mix of national tenants including 24 Hour Fitness, 99 Cents Only Store, Walmart, Jo-Ann Fabrics and Crafts, Auto Zone, Taco Bell, and Radio Shack. Simi Valley is a charming, family-oriented community, just 30 miles from Downtown Los Angeles and has been consistently ranked by the FBI as one of the safest cities in the United States. It is an affluent community with annual household incomes north of $107,811, as well as a business-friendly city. It is well known for the Ronald Reagan Presidential Library, where the former president was buried. Tapo Oaks Center is currently 89% occupied with a synergistic mix of tenants and is shadow anchored by McDonald’s. All tenants are on NNN leases with annual increases, offering an investor a stable income stream from a diverse retail tenant mix. 55% of the tenants have currently operated at this location for over six years. This seasoned tenant mix benefits from the excellent Simi Valley location and provides the local residents with a wide range of retail and restaurant options. 36% of the current tenants are restaurants. The average suite size is 1,731 square feet, and the average current rent per square foot is $1.70.

Investment Highlights

  • Tapo Oaks Center is ideally located just South of the Southwest signalized corner of Tapo Street and Cochran Street
  • Tapo Street and Cochran Street are two main retail thoroughfares that run through Simi Valley
  • Directly across from Santa Susana Plaza, home to national tenants including JOANN Fabrics & Crafts, Walmart, Taco Bell, Auto Zone, and Subway

Exclusively Listed By

Listing Price: $7,500,000

Cap Rate
6.84%
Gross SF
25,990
Rentable SF
25,990
Price/Gross SF
$288.57
Lot Size
2.38 acres
Year Built
1976

Investment Highlights

  • Tapo Oaks Center is ideally located just South of the Southwest signalized corner of Tapo Street and Cochran Street
  • Tapo Street and Cochran Street are two main retail thoroughfares that run through Simi Valley
  • Directly across from Santa Susana Plaza, home to national tenants including JOANN Fabrics & Crafts, Walmart, Taco Bell, Auto Zone, and Subway

Investment Overview

A 25,990 square foot NNN shopping center currently 89% occupied shadow anchored by McDonald’s directly off the California State Route 118 Freeway with direct freeway access ideally situated on 2.38 acres of land in Simi Valley, CA Marcus & Millichap has been selected to exclusively represent for sale the Tapo Oaks Center, a 25,990-square-foot shopping center ideally situated on approximately 103,557 square feet (2.38 acres) of land in Simi Valley, California. Tapo Oaks Center is located on Tapo Street, just south of the Southwest signalized intersection of Cochran Street and Tapo Street, two of the major retail thoroughfares through Simi Valley. Tapo Oaks Center is located one block south of the 118 Ronald Reagan Freeway, the main freeway that runs through Simi Valley, which connects Interstate 23, the 101 Ventura Freeway, Interstate 5 California Golden State Freeway, Interstate 405 San Diego Freeway, and the 210 Foothill Freeway. Tapo Oaks Center is shadow anchored by McDonald’s and located directly across from Santa Susana Plaza, home to an excellent mix of national tenants including 24 Hour Fitness, 99 Cents Only Store, Walmart, Jo-Ann Fabrics and Crafts, Auto Zone, Taco Bell, and Radio Shack. Simi Valley is a charming, family-oriented community, just 30 miles from Downtown Los Angeles and has been consistently ranked by the FBI as one of the safest cities in the United States. It is an affluent community with annual household incomes north of $107,811, as well as a business-friendly city. It is well known for the Ronald Reagan Presidential Library, where the former president was buried. Tapo Oaks Center is currently 89% occupied with a synergistic mix of tenants and is shadow anchored by McDonald’s. All tenants are on NNN leases with annual increases, offering an investor a stable income stream from a diverse retail tenant mix. 55% of the tenants have currently operated at this location for over six years. This seasoned tenant mix benefits from the excellent Simi Valley location and provides the local residents with a wide range of retail and restaurant options. 36% of the current tenants are restaurants. The average suite size is 1,731 square feet, and the average current rent per square foot is $1.70.

Exclusively Listed By

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