721 W Central Ave - Freestanding FOR SALE


Lompoc, CA 93436
$2,500,000 USD
310-906-3279
721 W Central Ave, Lompoc, CA for Sale
$2,500,000 USD
Freestanding - FOR SALE
1/12
null | 7.28% Cap Rate

721 W Central Ave
Lompoc, CA 93436


HIGHLIGHTS

  • 82% occupancy provides a strong cash flow investment with value-add upside for lease-up of vacant unit.
  • Tenants feature NNN lease allowing the investor to realize its gross income with minimal landlord responsibilities
  • Strong in-place Cannabis Dispensary with popular demand and large consumer base.
  • Last 3 years grossing over $3.2M per year in gross income.
  • Ability to take over vacancy and expand the business to add more product/show room for more customers and sales.
  • Rare in-place licenses and approvals specifically for subject site.

OVERVIEW

Located in the Northern Santa Barbara County City of Lompoc, 721 W Central Ave is a 6,600 SF retail strip center as an outparcel to Walmart. The center is 81% occupied and features Subway as well as the in-place Cannabis business, Royal Healing Emporium, as its anchors. The center is synergistically filled with quick service food operators and a dispensary providing a daily, internet-resistant tenant mix. The property lies on a main artery, Central Avenue, and is directly on the signalized corner of Central Ave and O St. The entire power center that includes Walmart and Foods Co. anchors the northern end of Lompoc just off the corner of Central Ave and Cabrillo Highway (CA Hwy-1), which is the city’s primarily traveled commercial corridor that also acts as the main gateway to Lompoc. The center caters to the charming central coast city providing a daily needs presence for its residents. 721 W Central Ave’s current and historical tenancy allows the investor to receive passive cash flow with little deferred maintenance. The investment sale includes the strong performing Cannabis Business, Royal Healing Emporium, that has historical gross sales of 3.5M/year. The business will come along with its rare operating licenses that allows the investor no downtime or lengthy approvals. The astute investor will benefit from a strong cash flowing business and property in the main draw of Lompoc.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$373 USD /SF

CAP RATE

7.28%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

CROSS STREETS

N. O St

LAND ACRES

0.91 AC

LAND SF

39,640 SF

ZONING

C

APN/PARCEL ID

093-450-037

ASK ABOUT THIS PROPERTY

Patrick YlaganKidder MathewsMore Info
310-906-3279

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Patrick YlaganKidder MathewsMore Info
310-906-3279

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