Lakewood Center Outparcel Shopping
For Sale
Contact for pricing
Pending
4425 Candlewood St, Lakewood, CA 90712
37,832-square-foot retail property at a signalized intersection serving a major regional shopping destination.
Property Size37,832 SF
Days on Market206
Property Features for 4425 Candlewood St
General Information
Standard status
Pending
Size
37,832 SF
Total Parking Spaces
292
Property subtype
Retail
Occupancy
96%
Lease Type
NNN
Investment Type
Net Lease
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Costco, Target, The Home Depot, Albertsons, Macy’s, JCPenney, Burlington, Best Buy, 24 Hour Fitness
Road Access
Yes
Building Details
Year Built
1974
Year Renovated
2020
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap - San Diego
(858) 373-3100
Listed By:
Bill Rose · License #CA 01170320
Source:
Crexi
Added: Feb 6
Changed: Aug 30
Last Checked: Aug 30 at 2:54PM
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 Marcus & Millichap - San Diego
Investment Insights
Based on property information with market context.
Built in 1974, this 37,832-square-foot out-parcel is positioned at the signalized intersection of Lakewood Boulevard and Candlewood Street in Lakewood, California. The fee simple property includes Luna Grill, Jersey Mike’s, and additional shops within the Lakewood Center campus.
Lakewood Center spans more than 150 acres and draws over 22 million consumer visits annually. The surrounding trade area includes more than 685,000 residents within five miles, with average household income exceeding $119,000. The center is accessible from four heavily traveled arterials and sees approximately 112,000 cars daily. Major surrounding retailers include Costco, Target, The Home Depot, Albertsons, Macy’s, JCPenney, Burlington, Best Buy, and 24 Hour Fitness.
A Mixed-Use Overlay adopted by the City of Lakewood in 2024 allows for up to 1,000+ new residential units on and around the Lakewood Center campus.
Lakewood Center spans more than 150 acres and draws over 22 million consumer visits annually. The surrounding trade area includes more than 685,000 residents within five miles, with average household income exceeding $119,000. The center is accessible from four heavily traveled arterials and sees approximately 112,000 cars daily. Major surrounding retailers include Costco, Target, The Home Depot, Albertsons, Macy’s, JCPenney, Burlington, Best Buy, and 24 Hour Fitness.
A Mixed-Use Overlay adopted by the City of Lakewood in 2024 allows for up to 1,000+ new residential units on and around the Lakewood Center campus.
Key Highlights
- 37,832‑square‑foot fee simple out‑parcel at Lakewood Center
- Signalized intersection of Lakewood Boulevard and Candlewood Street
- Lakewood Center records over 22 million consumer visits annually
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
$896,805
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
2.89%
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%
$17,936,100
$17.9M
Cap Rate 7%
$12,811,500
$12.8M
Cap Rate 9%
$9,964,500
$10.0M
Market Conditions
NOI Build-Up for 37,832 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
$1.28M $33.84/SF
− Vacancy
−$84.5K −$2.23/SF
EGI
$1.20M $31.61/SF
− OpEx
−$298.9K −$7.90/SF
NOI
$896.8K $23.70/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
25.00%
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%
$17,936,100
Cap Rate 7%
$12,811,500
Cap Rate 9%
$9,964,500
Alternative Uses
Best Use
Specialty Retail
$12.81M
$11.21M – $14.95M
NOI $896,805 @ 7.0% cap · market cap 2.89%
Second Best
Retail
$11.96M
$10.46M – $13.95M
NOI $837,018 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$20.26M
$17.72M – $23.63M
NOI $1,417,857 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,930
Businesses Nearby
708k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 33%
Shops & Services 19%
Apparel 16%
Dining 14%
Costco Wholesale
Superstores
233,300 visits/mo
0.3 miles
Costco Gasoline
Shops & Services
81,782 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
77,311 visits/mo
0.5 miles
JCPenney
Apparel
60,661 visits/mo
0.3 miles
Burlington
Apparel
48,719 visits/mo
0.4 miles
Demographics for 90712, CA
32,332
Population
10,170
Households
3.2
Avg Household Size
40
Median Age
37%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
7,698
Density / Sq Mi
$119,246
Median Household Income
$59,395
Median Earnings
$2,302
Median Rent
$779,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - 37,832-square-foot retail property at a signalized intersection serving a major regional shopping destination.
Where is this shopping center located?
The property is located at 4425 Candlewood St Lakewood, CA.
What is the asking price?
The asking price for this property is $31,063,252.
What are key features of this property?
This property features: 37,832‑square‑foot fee simple out‑parcel at Lakewood Center; Signalized intersection of Lakewood Boulevard and Candlewood Street; Lakewood Center records over 22 million consumer visits annually
