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3180 Willow Lane

3180 Willow Lane, Westlake Village, CA 91361

  • For Sale $17,500,000
  • Property Type Office - Medical Office
  • Units 13
  • Year Built 1987
  • Date Updated Oct 15, 2021
  • Website www.3180willowln.com

Marcus & Millichap, as exclusive advisor, is pleased to present the Westlake Center Medical Plaza (“The Property”), an institutional quality medical office building totaling 29,609 square feet, located at 3180 Willow Lane in Thousand Oaks, CA. Westlake Center Medical Plaza is a compelling opportunity to acquire a 100% occupied, completely renovated, medical office building in the extremely affluent community of Westlake Village with the additional ability to enhance returns through rolling in-place tenants to market rents upon lease expiration.

The Property, built in 1987 and completely renovated between 2018 and 2020, offers tenants contemporary interior finishes, ample and convenient surface parking, high corporate identity, and abundant retail amenities nearby. The Property is located adjacent to a transformational mixed-use development consisting of 260 residential units and 15,000 square feet of stores and restaurants. This opportunity is being offered at $17,500,000 for the fee simple interest in the building and land thereunder.

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Location

  • City Westlake Village, CA
  • Neighborhood Westlake Village
  • Zip Code 91361
  • Market Los Angeles

Contacts

James DeBuiser

Marcus & Millichap

(805) 368-4313 x 805351

Gary Cohen

Marcus & Millichap

(818) 804-1227 x 805351

Highlights

  • Price: $17,500,000
  • Price/SF: $591
  • NOI Year One: $878,060
  • Cap Rate In-Place Year 1: 5.02%
  • Cash Yield Year 1: 6.53%
  • Leveraged IRR (10 Year): 10.64%
  • Occupancy: 100%
  • Weighted Average Lease Term Remaining: 5.56 Years

Frequently Asked Questions

What is the total square footage of 3180 Willow Lane?

3180 Willow Lane totals 29,609 square feet.

When was this property built?

3180 Willow Lane was built in 1987.

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