721 Central Ave Lompoc, CA 93436
Call to check price and availability
Walmart-anchored, multi-tenant retail property.
Property size:
6,600 SFProperty 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
Listing Agency: Kidder Mathews Listing Agent: Patrick Ylagan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Subway
Take-out & Catering
Royal Healing Emporium
(Bike/Boat/Book/etc) Store
New Gen Cuts
Barber Shop
Pizza Garden
Restaurant
Keshtgar Corporation
Wedding Service
Location Insight
- Map
- Local Demand
- City
- Lompoc
- County
- Santa Barbara
- State
- California
- Longitude
- -120.46638303006
- Latitude
- 34.661251546399
Nearby Similar for Sale
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.
