Freestanding Automotive Repair
124 West Ovington Street Lancaster, CA 93534
For Sale
$1,080,000
Pending
4,000 SF automotive repair building for sale in Lancaster.
Property Size4,000 SF
Lot Size0.22 Acres
Days on Market123
Property Features for 124 West Ovington Street
General Information
- Standard status
- Pending
- Size
- 4,000 SF
- Lot size
- 0.22 Acres
- Property subtype
- Industrial
Listing Agency:
CBRE - Glendale
(818) 907-4639
Listed By:
Richard Ramirez · License #01792270
(818) 907-4639
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 24 at 5:09AM
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 CBRE - Glendale
Investment Insights
Based on property information with market context.
The property is a freestanding automotive repair and light industrial building with a size of approximately 4,000 square feet. The building is situated on a 0.22-acre lot. It features three grade-level doors, each measuring 10' x 12', and one restroom. The property includes a fenced, concrete yard. The building is equipped with swamp coolers and space heaters, and it has an insulated roof. Renovations are planned for completion in the first quarter of 2025, including a new building slab and a new restroom. The property is 100% leased to a long-term credit tenant. The property is suitable for auto shops, automotive purposes, retail, flex space, and industrial use.
Key Highlights
- 100% Leased to Long Term Credit Tenant
- Asking Cap Rate: 6.75%
- ± 4,000 SF Freestanding Automotive Repair/Light Industrial Building
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $25.20 |
| − Vacancy | −$6.0k | −$1.51 |
| EGI | $94.8k | $23.69 |
| − OpEx | −$28.4k | −$7.11 |
| NOI | $66.3k | $16.58 |
4,000 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$947.5K
$829.1K – $1.11M
NOI $66,326 @ 7.0% cap · market cap 6.14%
Second Best
Flex RnD
$754.1K
$659.9K – $879.8K
NOI $52,790 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,951 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
AR Auto Body ...
Auto Repair Shop
Similar Off Market Nearby
- Mozzy’s Automotive & Diesel repair — 43941 Division St, Lancaster, CA 93535
- All In Automotive & Air Conditioning — 43939 Division St, Lancaster, CA 93535
- Wayne & Dave's Automotive — 43937 Division St, Lancaster, CA 93535
- United Transmission & Auto Repair — 43939 division st #b, lancaster, ca 93535
- United Transmission Auto Repair Smog Center — 43939 Division St Unit A, Lancaster, CA 93535
FAQs
What type of property is this?
Auto shop - 4,000 SF automotive repair building for sale in Lancaster.
Where is this auto shop located?
The property is located at 124 West Ovington Street Lancaster, CA.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 100% Leased to Long Term Credit Tenant; Asking Cap Rate: 6.75%; ± 4,000 SF Freestanding Automotive Repair/Light Industrial Building
