2062 Avenue J Lancaster, CA 93536

Property Details for 2062 Avenue J

Property size

8,119 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional multi-tenant retail investment opportunity presents a 100% occupied, 8,119 square foot, single-story building located at 2062 W Ave J, Lancaster, CA 93536. The property boasts six tenants operating under a NNN lease structure, providing a stable and predictable income stream. The asking price is $4,300,000, representing a compelling 6.75% cap rate. This stabilized investment features strong annual rental increases of 3% for all tenants, effectively hedging against inflation and ensuring consistent cash flow growth. The property benefits from an ideal location at a signalized intersection of W Avenue J and 20th Street W, experiencing over 58,800 vehicles per day. Convenient freeway access is further enhanced by newly constructed on and off-ramps directly behind the property. The center enjoys exceptional co-tenancy with a newly opened (October 2023) Smart & Final, along with CVS, DD's Discounts, AT&T, Western Dental, and Supercuts, creating a synergistic environment and attracting a substantial customer base. Data from Placer.ai reveals the center's exceptional performance, with its anchor tenants consistently ranking among the busiest in their respective trade areas, nationally. The shopping center attracts over 1.5 million customers annually, demonstrating significant year-over-year traffic growth of 33.5%, 38.7%, and 45.1% over the past one, two, and three years, respectively. The strong demographics of the area, with over 167,000 people residing within a 5-mile radius and an average household income exceeding $82,000, further solidify this investment's potential. This is a rare opportunity to acquire a high-performing, multi-tenant retail property in a thriving location.

Location Insight

City

Lancaster

County

Los Angeles

State

California

Longitude

-118.167

Latitude

34.6891