1100 Avenue K Lancaster, CA 93534
- Lifestyle centers
- 14,000 SF
- 1.06 lot acres
Current Use by Public Records
- See's Candies / Candy Store / Gift Basket Store
Property Details for 1100 Avenue K
- Year built
- 1984
- Lot size
- 1.06 lot acres
- Property size
- 14,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 14,000 square foot retail property in Lancaster, CA, presents a compelling investment opportunity. Located at 1100 W Ave K, 93534, this single-story, 1984-built (renovated 2021) building sits on a 1.06-acre lot and boasts a 100% occupancy rate across five units. The property features a diverse tenant mix, including Target, See's Candy, and Yoshinoya, with 60% of the gross leasable area (12,805 sq ft) leased to national credit tenants. The strong tenant base, coupled with NNN leases and built-in rent increases, ensures a stable and growing net operating income (NOI) of $569,043, resulting in a 7.25% cap rate. The asking price is $7,849,000 ($560.64/sq ft), with a land value of $195/sq ft. Situated on a heavily trafficked intersection (Avenue K and 10th Street) with over 64,000 cars daily, and conveniently located adjacent to CA Highway I-14, this property benefits from excellent visibility and accessibility. The surrounding area demonstrates significant growth, with a population exceeding 177,600 residents and an average household income of approximately $76,500 within a 5-mile radius. This prime location, combined with the strength of the tenant roster and the property's financial performance, makes it an ideal addition to any retail investment portfolio. The property is zoned for general commercial use. See's Candy has occupied its space since 1987.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Los Angeles
- State
- California
- Longitude
- -118.151
- Latitude
- 34.6745
