An application still in its earliest stages, Newmark Merrill is considering bulldozing this well-known restaurant site and putting in a multi-tenant building with a drive-through. KYLE JORREY/Acorn Newspapers

A notorious revolving door of failed restaurants—Sizzler, Pat and Oscar’s, Fuddruckers, Hooters—at 401 N. Moorpark Road could be getting a fresh start.

Newmark Merrill, owner of Janss Marketplace, has submitted a pre-application to the City of Thousand Oaks with plans to reduce the 35...