Three-Unit Mixed-Use
New
For Sale
$699,900
902 W Lancaster Boulevard, Lancaster, CA 93534
Office and ground-floor retail spaces provide a combination of professional and customer-facing areas.
Property Size3,510 SF
Price / SF$199.40
Days on Market2
Property Features for 902 W Lancaster Boulevard
General Information
Standard status
Active
Size
3,510 SF
Additional Details
Utilities to Site
Yes
Office Units
1
Building Details
Year Built
1953
Buildings
1
Tenancy
Multi
Listing Agency:
Roher Realty
Listed By:
Glenn Roher · License #01268860
(661) 951-0110
Source:
Myfabuloushome
Added: Sep 26
Last Checked: Sep 26 at 5:33AM
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 Roher Realty
Investment Insights
Based on property information with market context.
This 3,500+ SQFT standalone mixed-use building is arranged as three independent spaces: a furnished 1,700 SQFT office suite and two 900 SQFT retail units. The office includes five private offices, a conference room, kitchen/breakroom, and private restroom. Each retail space has front and rear entrances, a private restroom, and separate gas and electric meters. The retail units are occupied under month-to-month leases.
The property is at 902 W Lancaster Blvd in Downtown Lancaster, directly across from the Residence Inn on Lancaster Blvd. Built in 1953, the building is configured for separate occupancy, with the stated structural capability to combine the spaces into one floor plate.
The property is at 902 W Lancaster Blvd in Downtown Lancaster, directly across from the Residence Inn on Lancaster Blvd. Built in 1953, the building is configured for separate occupancy, with the stated structural capability to combine the spaces into one floor plate.
Key Highlights
- Three‑unit layout includes a 1,700 SQFT office suite and two 900 SQFT retail spaces
- Furnished office suite contains five private offices, a conference room, kitchen/breakroom, and private restroom
- Both retail units have front and rear entrances, private restrooms, and separate gas and electric meters
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
$58,201
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
8.32%
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%
$1,164,020
$1.2M
Cap Rate 7%
$831,443
$831.4K
Cap Rate 9%
$646,678
$646.7K
Market Conditions
NOI Build-Up for 3,510 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
$88.5K $25.20/SF
− Vacancy
−$5.3K −$1.51/SF
EGI
$83.1K $23.69/SF
− OpEx
−$24.9K −$7.11/SF
NOI
$58.2K $16.58/SF
Area
Lancaster, CA
Vacancy
6.00%
Lease Rate
$25.20 /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%
$1,164,020
Cap Rate 7%
$831,443
Cap Rate 9%
$646,678
Alternative Uses
Best Use
Retail
$831.4K
$727.5K – $970.0K
NOI $58,201 @ 7.0% cap · market cap 8.32%
Second Best
Mixed Use
$804.4K
$703.9K – $938.5K
NOI $56,309 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$1.10M
$964.7K – $1.29M
NOI $77,177 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 93534, CA
43,906
Population
16,343
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
19.0 sq mi
ZIP Area
2,311
Density / Sq Mi
$58,891
Median Household Income
$44,566
Median Earnings
$1,513
Median Rent
$339,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and ground-floor retail spaces provide a combination of professional and customer-facing areas.
Where is this mixed-use property located?
The property is located at 902 W Lancaster Boulevard Lancaster, CA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit layout includes a 1,700 SQFT office suite and two 900 SQFT retail spaces; Furnished office suite contains five private offices, a conference room, kitchen/breakroom, and private restroom; Both retail units have front and rear entrances, private restrooms, and separate gas and electric meters
