721 Central Ave Lompoc, CA 93436

Property Details for 721 Central Ave

Lot size

0.91 lot acres

Property type

Retail space

APN

093-450-037

APU

93450037

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.

Location Insight

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

Property Tax & Assessments