Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    124 West Ovington St Lancaster, CA 93534
    Back to Search
    Property profile & analytics

    124 West Ovington St, Lancaster, CA 93534

    View on Map
    • Manufacturing properties
    • 4,000 SF
    • 0.16 lot acres
    For Sale
    $1,080,000
    View Listing →
    Freestanding Automotive Repair Building For Sale
    $1,080,000
    4,000 SF

    Freestanding Automotive Repair Building

    4,000 SF automotive repair building for sale in Lancaster.

    124 West Ovington Street, Lancaster, CA 93534
    View Listing
    Property ID
    US10-0320403
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • AR Auto Body & Paint, LLC / Auto Repair Shop

    Property Details for 124 West Ovington St

    Year built
    1990
    Construction
    TILT-UP CONCRETE
    Lot size
    0.16 lot acres
    Zone code
    LRM1*
    Property type
    Manufacturing properties
    APN
    3138-012-076
    APU
    3138012076

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 14, 2021 — Holver Investments LLC Ovington Division LLC Grant Deed —
    Mar 20, 2007 — Ovington Division LLC Domor Ents LLC Grant Deed —
    Nov 4, 1998 — Domor Enterprises Lld — Deed Of Trust · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $810,000
      6.5%
      $750,000
      7%
      $695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $750,000
      Market price range: $327k - $750k
      AI Estimate
      $580,000
      Market price range: $165k - $580k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $495,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,100,000
      Change: +123% Conversion: Difficult
      OFFICE BUILDING
      $850,000
      Change: +72% Conversion: Difficult
      RETAIL STORES
      $595,000
      Change: +20% Conversion: Moderate
      WAREHOUSE, STORAGE
      $455,000
      Change: -8% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Los Angeles
    State
    California
    Longitude
    -118.131
    Latitude
    34.6914
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,639
    $428,727
    $643,091
    $1,071,818
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.47 Acres

      Lancaster, CA 93534

      MANUFACTURING (LIGHT)
      Lancaster, CA 93534
      View Details
    • Value Estimation by Request
      2,550 SF

      133 Ave J5

      MANUFACTURING (LIGHT)
      133 Ave J5, Lancaster, CA 93534-4416
      View Details
    • Value Estimation by Request
      2,827 SF

      44125 Yucca Ave

      PROCESSING PLANT (CEMENT, GRAVEL)
      44125 Yucca Ave, Lancaster, CA 93534-4420
      View Details
    • Value Estimation by Request
      6,912 SF

      44952 Yucca Ave

      MANUFACTURING (LIGHT)
      44952 Yucca Ave, Lancaster, CA 93534-2524
      View Details
    • Value Estimation
      $510,000
      8,220 SF

      141 Ave J5

      MANUFACTURING (LIGHT)
      141 Ave J5, Lancaster, CA 93534-4416
      View Details
    • Value Estimation by Request
      7,200 SF

      45313 Beech Ave

      MANUFACTURING (LIGHT)
      45313 Beech Ave, Lancaster, CA 93534-1619
      View Details

    Similar Nearby for Sale

    • $1,600,000
      Pending

      Lancaster Commercial Property For Sale

      Commercial property in Lancaster's manufacturing area, suitable for various uses.
      205 Avenue W, Lancaster, CA 93534
      View Details
    • Contact for pricing
      7,881 SF

      Lancaster Warehouse/Distribution/Manufacturing Opportunity

      Warehouse, distribution, or manufacturing property with flexible financing options.
      44632 Trevor Ave, Lancaster, CA 93534
      View Details
    • $5,900,000

      Lancaster Cannabis Cultivation Facility

      Turnkey cannabis cultivation facility with retail permits and DCC license.
      44211 Yucca Ave, Lancaster, CA 93534
      View Details
    • Contact for pricing
      6,885 SF

      Lancaster Industrial Yard Investment Opportunity

      Multi-tenant industrial yard with income, upside potential, and owner-user flexibility.
      307 Avenue I W, Lancaster, CA 93534
      View Details
    • $2,500,000
      12,270 SF

      Lancaster Commercial Buildings For Sale

      Two freestanding buildings suitable for industrial and retail businesses.
      45231 Trevor Ave, Lancaster, CA 93534
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Building in Mid-Cities Location

      Freestanding building with convenient freeway access and modern amenities.
      42142 7Th St W, Lancaster, CA 93534
      View Details
    • Contact for pricing
      213,008 SF

      Lancaster Industrial Outdoor Storage Space

      Industrial outdoor storage with functional metal buildings and office trailer.
      660 Avenue L W, Lancaster, CA 93534
      View Details
    • Contact for pricing
      10,000 SF

      Versatile Space for Retail, Industrial

      Adaptable space suitable for retail, industrial, or warehousing purposes.
      1101 Avenue I W, Lancaster, CA 93534
      View Details
    • Contact for pricing

      Versatile Space For Lease

      Adaptable space suitable for retail, industrial, or warehousing purposes.
      1111 Avenue I W, Lancaster, CA 93534
      View Details
    • $1.00 SF/Yr
      5,680 SF

      New Warehouse/Office Plaza in Lancaster

      New construction warehouse and office spaces available for lease.
      1133 Avenue L12 W, Lancaster, CA 93534
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    124 West Ovington St
    Lancaster, CA 93534
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    124 West Ovington St, Lancaster, CA, 93534
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!