1315 & 1317 Del Norte Road | Camarillo, CA
Status: For Sale
Property Type: Multi-Tenant Office
Price: $1,800,000 each; $3,500,000 for both
Square Feet: 16,962 and 17,508 or 34,370 total
Pro Forma Cap Rate: 9.98%
All-In Cap Rate: 8.34%%
Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire 1305 and 1317 Del Norte Road, Camarillo (the "Property" or "Buildings"). 1305 and 1317 Del Norte Road are located one block from the 101 Freeway in the Camarillo submarket of Ventura County, California. The Property includes two, two-story office buildings totaling 33,876 square feet. The Buildings can be purchased individually or as a portfolio.
The Property provides an investor an excellent value-add opportunity at a dramatic discount to replacement cost within the desirable Camarillo market. Currently 23% leased with below market rents, the Property offers immediate upside potential through renovations and lease up strategy. Additionally, the Buildings offer an owner-user multiple occupancy options with existing income to offset costs. The Property is being offered on a fee simple basis, free and clear of any existing financing.