West Hills Plaza 23701-23751 Roscoe Blvd 29,386 SF 100% Leased Retail Building Canoga Park, CA 91304 $10,860,868 CAD ($369.59 CAD/SF) 6.50% Cap Rate

The CREM Group is pleased to present West Hills Plaza, a 100% occupied neighborhood strip center located at 23701 Roscoe Boulevard in the affluent West San Fernando Valley submarket of West Hills, CA. The property consists of approximately 29,386 square feet situated on a large 116,675 square foot (2.68 acre) parcel, offering a rare combination of strong in-place income and near-term rental upside.
The center is fully leased to 13 tenants with an average length of tenancy of 9.8 years, demonstrating long-term stability across a diverse, service-oriented and internet-resistant tenant base. Approximately 95% of the tenants operate on NNN leases, currently reimbursing an average of $0.66/SF/month in additional charges, providing a predictable expense structure with no anticipated shock to tenants post-sale. The property is offered at $267/SF at a current CAP rate of 6.50%, supported by a strong and reliable income stream.
West Hills Plaza presents a clear path to revenue growth, with rental upside exceeding 15% achievable as certain leases roll over in the near term. This is supported by recent lease activity within the center at rates exceeding $2.50/SF plus NNN, validating mark-to-market potential without the need for significant repositioning.
Strategically located along Roscoe Boulevard with approximately 575 feet of frontage, the property benefits from strong visibility, consistent traffic counts, and convenient ingress and egress. The site offers ample surface parking and serves as a primary retail destination for the surrounding residential community.