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    23120-23130 Lyons Ave Santa Clarita, CA 91321
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    23120-23130 Lyons Ave, Santa Clarita, CA 91321

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    • Retail properties & Spaces
    • 3.64 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 23120-23130 Lyons Ave

    Year built
    1989
    Lot size
    3.64 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Wayman Court Center, located at 23120-23130 Lyons Ave in Santa Clarita, CA 91321, presents a unique opportunity for retail businesses. This multi-tenant storefront property, built in 1989, sits on a 3.64-acre corner lot at a signalized intersection on Lyons Avenue, one of Santa Clarita's busiest east-west thoroughfares. The property boasts a total of 115 parking spaces, ensuring ample convenience for customers. Currently, 4,279 square feet of retail space is available for lease. One space of 2,100 square feet is immediately available. The property benefits from excellent visibility due to its prominent corner location and a pylon sign. The surrounding area offers strong demographics, with average household incomes within a 3-mile radius nearing $110,000. Its proximity to Old Town Newhall and Hart High School, along with convenient access to shopping, dining, and entertainment options in Santa Clarita's premier retail and arts district, makes this an ideal location for businesses seeking high foot traffic and a strong customer base. Public transportation is also readily available via a nearby bus line. Los Angeles County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Santa Clarita
    County
    Los Angeles
    State
    California
    Longitude
    -118.537
    Latitude
    34.3792

    Comparable in this City

    • Value Estimation by Request
      32,574 SF

      23226 Lyons Ave

      Neighborhood centers
      23226 Lyons Ave, Santa Clarita, CA 91321
      View Details
    • Value Estimation by Request
      244,123 SF

      23548 Lyons Ave

      Individual retail properties
      23548 Lyons Ave, Santa Clarita, CA 91321
      View Details
    • Value Estimation
      $590,000
      3,434 SF

      22925 Lyons Ave

      RETAIL STORES (PERSONAL SERVICES)
      22925 Lyons Ave, Santa Clarita, CA 91321-2717
      View Details
    • Value Estimation
      $4,440,000
      17,074 SF

      26865 Sierra Hwy

      RETAIL STORES (PERSONAL SERVICES)
      26865 Sierra Hwy, Newhall, CA 91321-2274
      View Details
    • Value Estimation by Request
      791 SF

      24367 Walnut St

      RETAIL STORES (PERSONAL SERVICES)
      24367 Walnut St, Santa Clarita, CA 91321-2834
      View Details
    • Value Estimation
      $5,055,000
      23,076 SF

      23404 Lyons Ave

      RETAIL STORES (PERSONAL SERVICES)
      23404 Lyons Ave, Santa Clarita, CA 91321
      View Details

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      4,216 SF

      Freestanding Corner Building For Sale

      Freestanding corner building in Old Town Newhall's Arts & Entertainment corridor.
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      Santa Clarita Retail Drive-Thru Pads

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    Similar Nearby for Lease

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      23,600 SF

      Retail Space Available For Rent

      Retail space available for rent in Santa Clarita, CA.
      23780-23788 Newhall Ave, Santa Clarita, CA 91321
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      900 SF

      Retail Space with Unique Finishes

      Retail space featuring finished concrete floors and wood accents.
      24258-24274 Main St, Santa Clarita, CA 91321
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      752 SF

      Retail Space Available For Rent

      Retail space available, can be combined with adjacent suite.
      24317-24319 Main St, Santa Clarita, CA 91321
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      1,400 SF

      Retail Space Available For Lease

      Retail spaces available for lease in Santa Clarita, California.
      23744-23772 Newhall Ave, Santa Clarita, CA 91321
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    • Contact for pricing

      Retail Space in Newhall Available

      New retail center for rent in Downtown Newhall.
      24048 Newhall Ave, Santa Clarita, CA 91321
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      Retail Suites in Santa Clarita

      Retail suites in mixed-use building with street visibility.
      23942 Lyons Ave, Santa Clarita, CA 91321
      View Details
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    Santa Clarita, CA 91321
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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    23120-23130 Lyons Ave, Santa Clarita, CA, 91321
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