721 Central Ave, Lompoc, CA 93436-2809
- Retail space
- 0.91 lot acres
Current Use by Public Records
- Subway / Take-out & Catering
- Royal Healing Emporium / (Bike/Boat/Book/etc) Store
- New Gen Cuts / Barber Shop
- Pizza Garden / Restaurant
- Keshtgar Corporation / Wedding Service
Property Details for 721 Central Ave
- Lot size
- 0.91 lot acres
- Property type
- Retail space
- APN
- 093-450-037
- APU
- 93450037
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 13, 2021 | — | Yahya M Ahmed | — | Deed · related | $1.4M · Salal Cu |
| May 22, 2020 | — | Yahya M Ahmed | Abdulqawi Haifa | Quit Claim Deed · related | $425k · Gourmet Central LLC |
| May 22, 2020 | $2,222,500 | Yahya M Ahmed | Gourmet Central LLC | Grant Deed | $1.4M · Mid Vly Svcs |
| Jan 31, 2017 | — | Keshtgar Brothers | Keshtgar,saee | Quit Claim Deed | $1.1M · Bank Of The Sierra |
| Jan 31, 2017 | $1,690,000 | Gourment Central LLC | Keshtgar Brothers | Grant Deed | $1.1M · Bank Of The Sierra |
| Feb 12, 2004 | — | Lompoc City (ca) | Keshtgar,saeed | Grant Deed · related | — |
| Mar 2, 2001 | — | Martin Trust | S-si Lompoc LP | Grant Deed · related | — |
| Feb 8, 2000 | — | S-si Lompoc LP | Wal-mart Stores INC | Grant Deed · related | — |
| Feb 26, 1999 | — | Wal-mart Real Estates Business | Wal-mart Stores INC | Quit Claim Deed · related | — |
| — | — | Saeed Keshtgar | — | Deed Of Trust · related | $650k · Community Bank Santa Maria |
| — | — | Saeed Keshtgar | — | Deed Of Trust · related | $520k · Community Bank Santa Maria |
| — | — | Saeed Keshtgar | — | Deed Of Trust · related | $1.4M · First Bank San Luis Obispo |
Description
This exceptional retail investment opportunity presents a 6,600 square foot, single-story building situated on a 39,639 square foot lot at 721 W Central Ave, Lompoc, CA 93436. The property, a Walmart outparcel, enjoys a prime corner location at Central Ave and O St, benefiting from high visibility and traffic. Currently housing four tenants, including Subway and Pizza Garden, the center boasts an 82% occupancy rate, generating a current NOI of $184,515 and a projected NOI of $208,659. The property features a NNN lease structure with a franchisee tenant and offers a 7.38% cap rate, projected to increase to 8.35%. Built in 1998, the property is zoned for General Commercial (PCD) use and includes ample parking (50 spaces). The asking price is $2,500,000, translating to a price per square foot of $378.79. The remaining lease term for the current tenants is 3 years, with an occupancy date of April 9, 2024. This value-add opportunity is a fee simple ownership, presenting a strong cash-flowing investment in a desirable location. The property's strategic location within a Walmart-anchored shopping center, coupled with its diverse tenant mix and strong performance, makes it an attractive proposition for discerning investors.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,825,000
- ML approach
- $2,710,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lompoc
- County
- Santa Barbara
- State
- California
- Longitude
- -120.466
- Latitude
- 34.6613
- CBSA code
- 42200
- CBSA name
- SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA
