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Brent's Delicatessen & Restaurant 2799 Townsgate Rd 10,937 SF Retail Building Thousand Oaks, CA 91361 $6,769,231 ($618.93/SF) 6.50% Cap Rate
Investment Highlights
- OUT PARCEL PAD – Gelsons, Vons, Sprouts, 263-room Hyatt Westlake, 276,00sf Westlake Plaza
- HIGH SALES PERFORMANCE – Restaurant Sales Top 10 Industry Percentile
- AFFLUENT TRADE AREA – 75K Daytime POP, EARNING $217K 20-minute Drive Time
- TOP RETAIL DESTINATION – Nearly 5 Million Consumer Visits Annually
- VALUE ADD – Lease-up, Redevelopment, Owner-user, QSR Drive-Thru Potential
Executive Summary
Marcus & Millichap has been selected to exclusively market for SALE or LEASE the fee simple interest in an approximate 10,000 square foot out-parcel building to the Westlake Plaza & Center located at the signalized intersections of Townsgate Road and South Westlake Boulevard, Westlake Village, CA 91361. The Property benefits from hard-corner visibility of the primary ring road and shares cross-access parking with the 263-room Hyatt Regency Hotel and the 286,000 square foot Westlake Plaza. Area retailers include Gelsons, Vons and Sprouts and wide range of specialty shops and daily needs services.
The master planned Westlake Plaza and Center draws more than 4 million business travelers and local consumers annually. The affluent area touts a primary five-mile trade area of over 112,750 residents earning over $217,104 Average Household Income.
The building is situated on a pad site that is part of the larger Westlake Plaza Center, which includes a 262 room Hyatt Regency Hotel, a four-story multi-tenant office building, and numerous other retail stores throughout the center. A single-story structural steel frame with stucco siding commercial restaurant building on a reinforced concrete slab foundation with concrete footings under perimeter walls, with a flat asphalt roof covered with Mission Spanish Tile and some hip and mansard accents.
An approximate 975 square foot basement provides dry storage space and the restaurant offers maximum seating capacity of 323 seats.
The master planned Westlake Plaza and Center draws more than 4 million business travelers and local consumers annually. The affluent area touts a primary five-mile trade area of over 112,750 residents earning over $217,104 Average Household Income.
The building is situated on a pad site that is part of the larger Westlake Plaza Center, which includes a 262 room Hyatt Regency Hotel, a four-story multi-tenant office building, and numerous other retail stores throughout the center. A single-story structural steel frame with stucco siding commercial restaurant building on a reinforced concrete slab foundation with concrete footings under perimeter walls, with a flat asphalt roof covered with Mission Spanish Tile and some hip and mansard accents.
An approximate 975 square foot basement provides dry storage space and the restaurant offers maximum seating capacity of 323 seats.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,937 SF
Building Class
C
Year Built/Renovated
1986/2005
Price
$6,769,231
Price Per SF
$618.93
Cap Rate
6.50%
NOI
$440,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.58
Lot Size
0.43 AC
Zoning
C4 - The building is situated on a pad site that is part of the larger Westlake Plaza Center, which includes a 262 room Hyatt Regency Hotel.
Parking
100 Spaces (9.14 Spaces per 1,000 SF Leased)
Frontage
104’ on Townsgate
Amenities
- Pylon Sign
- Signage
Walk Score®
Very Walkable (76)
Nearby Major Retailers
Property Taxes
| Parcel Number | 693-0-130-235 | Improvements Assessment | $1,416,066 |
| Land Assessment | $1,410,944 | Total Assessment | $2,827,010 |
Property Taxes
Parcel Number
693-0-130-235
Land Assessment
$1,410,944
Improvements Assessment
$1,416,066
Total Assessment
$2,827,010
Contacts
-
Bill Rose -
Parker Wada -
Reed Hamilton -
Institutional Property Advisors | Marcus&Millichap
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Brent's Delicatessen & Restaurant | 2799 Townsgate Rd
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