Highlights
• Exceptional value-add shopping center opportunity anchored by CVS (Not a Part of Sale). • Prime location at the intersection of Lindero Canyon Road and Kanan Road, with over 30,000 vehicles per day (VPD). • 75,000 square feet retail center offering immediate upside through leasing vacant spaces and adjusting rents to market rates. • Infill neighborhood center featuring Starbucks with a drive-thru and a Wells Fargo Bank. • Situated in the affluent North Ranch community, where the average household income is approximately $180,000.
Description
Pegasus Investments Real Estate Advisory Inc., as the exclusive sales advisor, proudly presents the Oak Park Shopping Center—a prime value-add investment opportunity in the affluent suburb of Oak Park, Los Angeles, California. This neighborhood retail center offers investors the potential for strong financial performance, with projected metrics including a 3.6% CAGR, 14.1% levered IRR, 3.25x equity multiple, and 7.0% average cash-on-cash returns over a 10-year hold. The center features a diverse tenant mix across service, medical, lifestyle, and convenience categories, serving Oak Park’s upscale population of nearly 50,000 residents with average household incomes of $180,000 within a three-mile radius. Positioned at the high-traffic, signalized intersection of Kanan Road and Lindero Canyon Road (30,000+ VPD), the property benefits from strong visibility and accessibility, directly across from a Pavilions-anchored center and less than 2.5 miles north of the 101 Freeway. Nestled between Oak Park High School and the North Ranch Country Club and luxury gated community, the center is a key retail hub for the surrounding high-income neighborhood, where average home prices exceed $1 million (2024). With 33 total units, including nine vacancies, sixteen suites without extension options, and five month-to-month tenants, the property provides multiple avenues for value creation. Opportunities include raising below-market rents, backfilling vacancies, converting gross leases to NNN, and implementing cosmetic enhancements and proactive management to unlock the center’s full income potential. Overall, Oak Park Shopping Center represents a rare chance to acquire a high-quality, income-producing retail asset in one of Los Angeles’ most desirable suburban markets.
Listing Details
- Cap Rate
7.01%
- Tenancy
Multi
- Space Type
retail
- Sub Category
strip-centers
- Sale Type
Investment Sale
- Date Listed
10/8/2025
- Broker/Agent Co-op
No
- Investment Type
Value Add
- Net Operating Income
$1,613,088
- Parking Info
101 Spaces (1.36 Spaces per 1,000 SF Leased)
- Building FAR
0.25
Property Specifics
- Property Name
Oak Park Shopping Center | 604-630 Lindero Canyon Rd
- Property Class
B
- No of Buildings
4
- No of Stories
1
- No of Units
33
- Year Built
1991
- Building Size
74,381 SF
- Lot Size
6.7 AC
- APN
685-0-330-055, 685-0-330-065, 685-0-330-045
- Zoning
B2 - Neighborhood Business
- Occupancy
78%