201 Ocean Ave Lompoc, CA 93436-6734
- Retail space
- 0.16 lot acres
Current Use by Public Records
- Better Beds & Furniture | Mattress Store - Lompoc / Mattress Store / Furniture Store
Property Details for 201 Ocean Ave
- Lot size
- 0.16 lot acres
- Property type
- Retail space
- APN
- 091-083-007
- APU
- 91083007
Description
This exceptional 4,010 square foot industrial property, situated on a 0.16-acre corner lot in the heart of downtown Lompoc, California, presents a unique investment opportunity. Located in the city's Historical Landmark District, this well-maintained building boasts a prime location near shops, restaurants, cultural attractions, and public amenities, ensuring high visibility and pedestrian traffic. Currently configured as a retail space (furniture store), the property offers significant potential for various commercial uses. Built circa 1960s with recent renovations, the building features a newly installed roof on the front section, new heaters in both the front and back areas, and a fresh coat of paint. Adding to its historical charm, the building showcases the newly painted 50th Anniversary of Landsat Mural, a local landmark. The sale includes two large storage containers with a new roof and a small new shed located in the fenced and gated back area of the property. The existing retail business is not included in the sale but could be negotiated separately. This property offers a blend of historical character and modern updates, making it an ideal investment for discerning buyers seeking a high-traffic location in a thriving downtown area. The property's central location provides easy access to the Lompoc Chamber of Commerce, farmers market, and ample public parking. The asking price is $899,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $840,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $875,000
- 6.5%
- $815,000
- 7%
- $765,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $865,000
- Geo Method
- $820,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,000,000
- Retail
- $745,000
- Mixed-Use
- $850,000
- Hospitality
- $810,000
- Educational
- $775,000
- Residential Income
- $895,000
- Energy
- $1,020,000
- Income-Based Land
- $800,000
- Food Service
- $945,000
Location Insight
- Map
- Local Demand
- City
- Lompoc
- County
- Santa Barbara
- State
- California
- Longitude
- -120.459
- Latitude
- 34.6393
- CBSA code
- 42200
- CBSA name
- SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA
