After a year since it was initially listed, a 62,669 square foot shopping center in Oxnard remains up for sale. The property, which is located at 2311 N. Oxnard Drive is currently listed for $22.36 million, or about $357 per square foot.
The property, which is known as Vineyard Plaza, is currently owned by an entity associated with Jerom H. Unatin. Property records show that the entity has owned the property since 2015, when it was acquired for just over $17 million.
Currently, the shopping center is 87 percent occupied by a variety of tenants, including Circle K, US Bank, Big 5 Sporting Goods and H&R Block. In total, the property offers a net operating income of just over $1.38 million, with rent bumps built in. In addition, more than 56 percent of the shopping center has been occupied for more than 10 years.
The property is also closely situated near a number of other retail tenants, including Carl’s Jr., Lowe’s, Home Depot, Dick’s Sporting Goods, Walgreens, Target and ULTA Beauty.
Vineyard Plaza is also located less than five miles from the California coastline and is a short commute to Interstate 101 at an intersection that sees more than 80,000 vehicles per day.
The surrounding area is also home to a large population, with 290,835 residents living within five miles of the property. According to the offering memorandum, the average household income within five miles of the property is $95,218 per year.
