Oak Park Shopping Center 604-630 Lindero Canyon Rd

Pegasus Investments Real Estate Advisory Inc., as the exclusive sales advisor for the owner, is pleased to present Oak Park Shopping Center, an exceptional opportunity to acquire a value-add neighborhood shopping center located in the affluent suburb of Oak Park, Los Angeles, California (the “Property”). The Property represents an outstanding opportunity for an astute investor to achieve strong financial returns, including a compounded annual growth rate (CAGR) of 3.6%, levered internal rate of returned (IRR) of 14.1%, equity multiple of 3.25x, and average cash-on-cash returns of 7.0% projected over a 10-year hold.
Oak Park Shopping Center offers a diverse mix of retail tenants in service, medical, lifestyle, and convenience sectors, catering to Oak Park’s upscale community of nearly 50,000 residents and household incomes averaging $180,000 annually within a 3-mile radius. Located at the busy, signalized intersection of Kanan Road and Lindero Canyon Road (30,000+ VPD), the center boasts prime real estate fundamentals, situated across the street from a Pavilions-anchored shopping center (SWC) and just under 2.5 miles north of the 101 Freeway.
Strategically positioned between Oak Park High School and the exclusive North Ranch Country Club and North Ranch luxury gated housing community, Oak Park Shopping Center stands as the area’s primary shopping destination. With average home prices in Oak Park exceeding $1 million in 2024, the neighborhood showcases significant discretionary income, enhancing the Property’s investment appeal. This center offers investors a unique opportunity to acquire a high-income, value-add asset in one of Los Angeles’s most affluent suburban markets.
Potential value-add approaches include market rate adjustments for below-market paying tenants, backfilling existing vacancies, and converting gross leases to triple net recoveries. Of the 33 retail units at Oak Park Shopping Center, nine (9) are currently vacant, eighteen (18) have no extension options, four (4) operate on a month-to-month basis, and 77% of tenant leases (by revenue) will roll over by 2028. While current ownership has maintained the center professionally, a proactive investor focusing on cosmetic upgrades, robust leasing and active management strategy can maximize Oak Park Shopping Center’s promising financial potential.