1070 Avenue K Lancaster, CA 93534
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Retail properties & Spaces
Property Details for 1070 Avenue K
- Property size
- 30,109 SF
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple, 30,109 square foot Big Lots convenience/grocery store in Lancaster, CA. Located at 1070 W Ave K, 93534, this property boasts a 20-year absolute NNN lease with a 2% annual rent increase, ensuring strong, predictable cash flow. The current NOI is $293,938, yielding a 6.25% cap rate on an asking price of $4,703,013 ($156.20/sq ft). The 100% occupancy rate and strong tenant, Big Lots, Inc. (NYSE: BIG), provide significant security. Situated on a 105,004 square foot lot, this property offers value-add potential due to its size and location within a robust retail corridor, featuring a large population and high average household income within a 5-mile radius. The property is offered free and clear of financing, allowing investors to leverage favorable debt markets. This offering is ideal for 1031 exchange buyers seeking a stable, high-return investment with significant long-term growth potential. The lease structure minimizes landlord responsibilities, and the property's location and tenant history contribute to its strong intrinsic value. The seller will consider offers for the property individually or as part of a larger portfolio.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Los Angeles
- State
- California
- Longitude
- -118.151
- Latitude
- 34.6733
