Lompoc Historic Schroeder Building For
For Sale
$850,000
Pending
105 105-109 W Ocean Ave, Lompoc, CA 93436
Downtown commercial building in Lompoc's Old Town district.
Property Size5,000 SF
Days on Market160
Property Features for 105 105-109 W Ocean Ave
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Commercial/Industrial
Listing Agency:
Carolina Palacioz, Broker
(805) 588-7653
Listed By:
Carolina Palacioz · License #01271256
(805) 588-7653
Source:
Exitrealty
Added: Mar 18
Changed: Aug 23
Last Checked: Jul 23 at 9:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carolina Palacioz, Broker
Investment Insights
Based on property information with market context.
The Schroeder Building, a commercial property, is situated in the Old Town district of Lompoc. The building features two units and a parking lot. The property includes two parcels. Significant improvements have been made in the building within the last few years including roof replacement, repaving of the parking lot, repainting of the building, and the installation of ADA-compliant bathrooms in both rental spaces. One unit measures 3,000 square feet, while the other provides 2,000 square feet of space. The property at 109 W Ocean is a parking lot. The building has access from the rear alley, with additional parking in the back and public street parking at the front. The property has a walk score of 41, indicating that it is car-dependent, and a bike score of 23, indicating that it is somewhat bikeable.
Key Highlights
- Located in the heart of Lompoc's desirable Old Town district.
- Features two commercial units currently occupied by established businesses that generate substantial traffic.
- Includes a parking lot and two parcels in the sale.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,700
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,554,000
$1.6M
Cap Rate 7%
$1,110,000
$1.1M
Cap Rate 9%
$863,333
$863.3K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$120.0K $24.00/SF
− Vacancy
−$9.0K −$1.80/SF
EGI
$111.0K $22.20/SF
− OpEx
−$33.3K −$6.66/SF
NOI
$77.7K $15.54/SF
Area
Santa Barbara County, CA
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,554,000
Cap Rate 7%
$1,110,000
Cap Rate 9%
$863,333
Alternative Uses
Best Use
Retail
$1.11M
$971.3K – $1.30M
NOI $77,700 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.57M
$1.37M – $1.83M
NOI $109,851 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,193
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93436, CA
56,730
Population
18,928
Households
3
Avg Household Size
37
Median Age
17%
College-Educated
76%
High-School Grad
228.0 sq mi
ZIP Area
249
Density / Sq Mi
$76,241
Median Household Income
$36,340
Median Earnings
$1,578
Median Rent
$460,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial building in Lompoc's Old Town district.
Where is this storefront property located?
The property is located at 105 105-109 W Ocean Ave Lompoc, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Located in the heart of Lompoc's desirable Old Town district.; Features two commercial units currently occupied by established businesses that generate substantial traffic.; Includes a parking lot and two parcels in the sale.
