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Mixed-Use

3111 E Main St

3111 E Main St, Ventura, CA 93003

Listing Price: $3,700,000

Cap Rate
4.07%
Gross SF
16,399
Rentable SF
16,399
Price/Gross SF
$225.62
Lot Size
1.15 acres
Year Built
1961

Investment Overview

A 16,399 square foot mixed-use retail, warehouse, and automotive use property ideally situated on 1.15 acres of land ideally located along East Main Street, a main retail thoroughfare, just 0.3 of a mile from Ventura Community Memorial Hospital, in the affluent Ventura County sub-market of Ventura, CA Marcus & Millichap has been selected to exclusively represent for sale 3111 East Main Street, a 16,399 square foot retail and automotive use property situated on 1.15 acres of land along East Main Street in the affluent Ventura County sub-market of Ventura, CA. The subject property is located just east of the signalized corner of East Main Street and Telegraph Road, just 0.3 of a mile from Ventura Community Memorial Hospital, 0.5 of a mile from the Pacific View Mall, and 1.9 miles from Ventura City Beach. The subject property benefits from 205 feet of frontage along Main Street in a very walkable portion of Ventura, featuring a walk score of 84. 3111 East Main Street features a retail/warehouse building located in the front portion of the property along East Main Street totaling 10,291 square feet and a retail/automotive use building and auto bays towards the rear of the property totaling 5,208 square feet. The front building is currently occupied by BMC, the nations premier supplier of building materials and services. In January 2021, BMC merged with Builders FirstSource, Inc. to create the nation’s premier supplier of building materials and services. The combined company, which will operate under the Builders FirstSource name, has over 550 distribution and manufacturing locations, a presence in 39 states and 84 of the top 100 metropolitan statistical areas, and with combined sales of $12.8 billion as of the twelve months ended December 31, 2020. The Ventura location currently serves as a window and door showroom. The retail portion of the building consists of 5,900 square feet, and the rear warehouse consists of 5,291 square feet. BMC is on a NNN lease which expires on 11/30/2023, with two additional five year options. Their current rent is $0.67 per square foot. The rear portion of the property is leased to Dikes Thorton Automotovie, who has a lease through 7/31/2022 with no options. Their space consists of a total of 3,208 square feet of retail space and 2,000 square feet of auto bays. Their current rent is $0.97 per square foot. With a pending lease expiration in July of 2022, this creates a unique opportunity for an owner-user Buyer to occupy the rear retail/auto portion of the property while benefiting from the income stream generated from the front portion of the property. The subject property has a total of 61 parking spaces, a parking ration of 3.72 per 1,000 square feet. Daily traffic counts exceed 15,000 vehicles per day.

Investment Highlights

  • Front building features 5,900 square feet of retail space and 5,291 square feet of warehouse space
  • Rear building features 3,208 square feet of retail space and 2,000 square feet of auto bays
  • 205 feet of frontage alone East Main Street, the main retail thoroughfare that runs through Ventura, CA

Exclusively Listed By

Financing By

Mixed-Use

3111 E Main St

Listing Price: $3,700,000

Cap Rate
4.07%
Gross SF
16,399
Rentable SF
16,399
Price/Gross SF
$225.62
Lot Size
1.15 acres
Year Built
1961

Investment Highlights

  • Front building features 5,900 square feet of retail space and 5,291 square feet of warehouse space
  • Rear building features 3,208 square feet of retail space and 2,000 square feet of auto bays
  • 205 feet of frontage alone East Main Street, the main retail thoroughfare that runs through Ventura, CA

Investment Overview

A 16,399 square foot mixed-use retail, warehouse, and automotive use property ideally situated on 1.15 acres of land ideally located along East Main Street, a main retail thoroughfare, just 0.3 of a mile from Ventura Community Memorial Hospital, in the affluent Ventura County sub-market of Ventura, CA Marcus & Millichap has been selected to exclusively represent for sale 3111 East Main Street, a 16,399 square foot retail and automotive use property situated on 1.15 acres of land along East Main Street in the affluent Ventura County sub-market of Ventura, CA. The subject property is located just east of the signalized corner of East Main Street and Telegraph Road, just 0.3 of a mile from Ventura Community Memorial Hospital, 0.5 of a mile from the Pacific View Mall, and 1.9 miles from Ventura City Beach. The subject property benefits from 205 feet of frontage along Main Street in a very walkable portion of Ventura, featuring a walk score of 84. 3111 East Main Street features a retail/warehouse building located in the front portion of the property along East Main Street totaling 10,291 square feet and a retail/automotive use building and auto bays towards the rear of the property totaling 5,208 square feet. The front building is currently occupied by BMC, the nations premier supplier of building materials and services. In January 2021, BMC merged with Builders FirstSource, Inc. to create the nation’s premier supplier of building materials and services. The combined company, which will operate under the Builders FirstSource name, has over 550 distribution and manufacturing locations, a presence in 39 states and 84 of the top 100 metropolitan statistical areas, and with combined sales of $12.8 billion as of the twelve months ended December 31, 2020. The Ventura location currently serves as a window and door showroom. The retail portion of the building consists of 5,900 square feet, and the rear warehouse consists of 5,291 square feet. BMC is on a NNN lease which expires on 11/30/2023, with two additional five year options. Their current rent is $0.67 per square foot. The rear portion of the property is leased to Dikes Thorton Automotovie, who has a lease through 7/31/2022 with no options. Their space consists of a total of 3,208 square feet of retail space and 2,000 square feet of auto bays. Their current rent is $0.97 per square foot. With a pending lease expiration in July of 2022, this creates a unique opportunity for an owner-user Buyer to occupy the rear retail/auto portion of the property while benefiting from the income stream generated from the front portion of the property. The subject property has a total of 61 parking spaces, a parking ration of 3.72 per 1,000 square feet. Daily traffic counts exceed 15,000 vehicles per day.

Exclusively Listed By

Financing By

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