45216-45232 10th St W - Storefront FOR SALE


Lancaster, CA 93534
$3,800,000 USD
818-703-3735
45216-45232 10th St W, Lancaster, CA for Sale
$3,800,000 USD
Storefront - FOR SALE
1/7
null | 6.33% Cap Rate

45216-45232 10th St W
Lancaster, CA 93534


HIGHLIGHTS

  • Value-Add Shopping Center
  • All Month-To-Month Tenants
  • Current 6.33% Cap Rate | Proforma 8.86% Cap Rate
  • Free Standing Restaurant on Site
  • Strong National Tenant Presence Nearby
  • Excellent Visibility & Accessibility

OVERVIEW

Floyd Group of Marcus & Millichap is pleased to present 45216 10th St W, a rare multi-tenant shopping center in Lancaster, a suburban community of Los Angeles County. Built in 1968 and occupied by mostly long-term tenants all on month-to-month leases, which offers ultimate flexibility to an investor. This asset presents stable cash flow along with near term value add potential. The property totals 17,936 square feet of rentable building area on 86,031 square feet of land (1.97 acres). The shopping center is anchored by a laundry mat, located at the signalized corner of W Ave I and 10th St W with excellent visibility and accessibility. There is also a free-standing restaurant at the site, ample parking, and multiple access points. Nearby national tenants include: AutoZone, Starbucks, Burger King, In & Out, Panda Express, Family Dollar, Wendy’s, Walmart Supercenter, Home Depot, and Taco Bell. Ideally located within a couple of blocks from state Highway 14, this asset is surrounded by dense suburban housing, high earning residents, excellent schools, and an undersupply of competitive commercial retailers. Lancaster has improved sites ready for rapid development, large parcels for distribution centers, and a variety of multitenant spec and build-to-suit opportunities, all with significant price advantages. Located in Los Angeles County, approximately 50 miles north of Los Angeles, Lancaster is a charter city in the Antelope Valley of the western Mojave Desert in Southern California. As of the 2010 census it had a population of 156,633, and in 2019 the population was estimated at 157,601, making Lancaster the 33rd largest city in California. Lancaster is part of a twin city complex with its southern neighbor Palmdale, and together they are the principal cities within the Antelope Valley region.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$177 USD /SF

CAP RATE

6.33%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

84

LAND DETAILS

CROSS STREETS

10th St., W. & Ave. 1

LAND ACRES

1.97 AC

LAND SF

85,813 SF

ZONING

C3

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Floyd ShaheenFloyd GroupMore Info
818-703-3735

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Floyd ShaheenFloyd GroupMore Info
818-703-3735

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.