Oxnard Street Portfolio 2 Land Properties Offered at $8,500,000 in Woodland Hills, CA

Positioned at the high-visibility corner of Oxnard Street and Canoga Avenue in Woodland Hills, this ±42,333 SF site presents a rare dual-asset investment opportunity in the heart of the Warner Center submarket. Anchored by a freestanding, corporate-leased Starbucks drive-thru (±2,050 SF) and complemented by a shovel-ready commercial pad (±5,842 SF), the property offers both durable income and near-term development upside.
The Starbucks lease includes a 10-year initial term with four 5-year options, structured with escalating rents and a unique clause for rent reduction during government-imposed drive-thru-only restrictions. The adjacent pad at 21340 W. Oxnard is fully entitled and ready for vertical development, with shared access and parking easements already in place. EV infrastructure is prepped with capacity for four chargers.
Located within the Warner Center—San Fernando Valley’s central business district—the site benefits from proximity to over 17.5 million SF of commercial space, major retail destinations like Westfield Topanga, and transformative developments such as the $1.5B Westfield Promenade and $3.5B Uptown at Warner Center. The area’s strong jobs-to-housing balance, affluent demographics (median HH income: $135,493), and ongoing infrastructure investment make this a compelling long-term hold.
This offering is ideal for investors seeking stabilized income with development potential in a supply-constrained, high-barrier-to-entry market. The total project cost is estimated at $11M, with projected effective returns reaching 16.75% when factoring in depreciation, appreciation, and principal reduction.