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    721 Central Ave Lompoc, CA 93436

    Sponsored
    For Sale
    $2,500,000

    Walmart-anchored, multi-tenant retail property.

    Property size:
    6,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail investment opportunity presents a 6,600 square foot, single-story building situated on a 39,639 square foot lot at 721 W Central Ave, Lompoc, CA 93436. The property, a Walmart outparcel, enjoys a prime corner location at Central Ave and O St, benefiting from high visibility and traffic. Currently housing four tenants, including Subway and Pizza Garden, the center boasts an 82% occupancy rate, generating a current NOI of $184,515 and a projected NOI of $208,659. The property features a NNN lease structure with a franchisee tenant and offers a 7.38% cap rate, projected to increase to 8.35%. Built in 1998, the property is zoned for General Commercial (PCD) use and includes ample parking (50 spaces). The asking price is $2,500,000, translating to a price per square foot of $378.79. The remaining lease term for the current tenants is 3 years, with an occupancy date of April 9, 2024. This value-add opportunity is a fee simple ownership, presenting a strong cash-flowing investment in a desirable location. The property's strategic location within a Walmart-anchored shopping center, coupled with its diverse tenant mix and strong performance, makes it an attractive proposition for discerning investors.

    Property Features for 721 Central Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    6,600 SF

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    1
    Units
    4

    HighLights

    • Walmart‑anchored shopping center outparcel in Lompoc, CA.
    • Strong cash‑flowing investment with a 7.38% cap rate, projected to increase to 8.35%.
    • Prime corner retail strip center totaling 6,600 square feet on a 39,639 square foot lot.
    • NNN‑leased retail center with Subway and other tenants, currently 82% occupied, generating $184,515 NOI.
    • Internet‑resistant retail with a diverse tenant mix.
    Property Profile Location Intelligence

    Current Use by Public Records

    Subway Sandwich Shop Royal Healing Emporium Cannabis Store New Gen Cuts Barber Shop Pizza Garden Pizza Restaurant Keshtgar Corporation Banquet Hall

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lompoc
    County
    Santa Barbara
    State
    California
    Longitude
    -120.46638303006
    Latitude
    34.661251546399

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    FAQs

    What type of property is this?
    Lifestyle center - Walmart-anchored, multi-tenant retail property.
    Where is this lifestyle center located?
    The property is located at 721 Central Ave Lompoc, CA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Walmart-anchored shopping center outparcel in Lompoc, CA.; Strong cash-flowing investment with a 7.38% cap rate, projected to increase to 8.35%.; Prime corner retail strip center totaling 6,600 square feet on a 39,639 square foot lot.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    721 Central Ave Lompoc, CA 93436
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