823 China Lk Blvd Ridgecrest, CA 93555-3515

Property Details for 823 China Lk Blvd

Year built

1949

Construction

WOOD

Lot size

0.17 lot acres

Property size

6,138 SF

Property type

Retail space

APN

067-031-01-00-6

APU

6703101006

Description

This exceptional multi-tenant retail investment opportunity in Ridgecrest, CA, presents a compelling prospect for discerning investors. Located on a prominent 0.17-acre site at 823 N China Lake Blvd, this property boasts a 5,828 square foot, two-story building, currently housing three tenants, ensuring a diversified income stream. The building, constructed in 1949 and renovated in 2018, features durable masonry construction, a roll composition roof, and ample parking (approximately 10 spaces) accessible from both N. China Lake Blvd and a rear alley. The property benefits from high visibility due to its location on a major thoroughfare, attracting substantial foot traffic. The current lease structure is a Net Net + (NN+) arrangement with a remaining term of five years, generating a strong net operating income (NOI) of $37,440 and an attractive 8.00% capitalization rate. The property is zoned GC and features a well-maintained exterior, aligning seamlessly with the surrounding neighborhood. The total square footage is 6,071 square feet, with 100% occupancy. This stabilized investment offers a secure return with potential for future appreciation. The property's convenient dual access and well-structured site layout, including landscaping and paved areas, further enhance its appeal. This is a turnkey opportunity to acquire a profitable, well-maintained retail property in a desirable location. The property's APN is 067-031-01-00-6. The asking price is $480,000.