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First Time on Market in 40+ Years | Value-Add 12205 Centralia St 14,220 SF 100% Leased Retail Building Lakewood, CA 90715 $4,300,000 ($302.39/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- Value Add Opportunity - Roughly 20% Upside by bringing rents to market and converting to NNN leases
- 6.40% Current Cap Rate
- Abundant Parking - 135 Total Shopping Center Parking Spaces
- Prime 2,346 Square Foot End Month to Month Tenancy - Opportunity to Mark to Market Immediately
- Clear Path to 7.59% Cap Rate Year 2 - End Cap Month to Month
- Traffic Counts Between 16K - 21K Vehicles Per Day
EXECUTIVE SUMMARY
Family-owned asset and first time on the market in over 40 years! 12205 Centralia Street is a stable but underperforming neighborhood retail strip center located in the dense, supply-constrained Lakewood/Cerritos submarket at the border of Los Angeles and Orange Counties. The property totals ±14,220 SF on a ±38,522 SF parcel with 135 parking spaces via reciprocal parking agreement, offering excellent access, convenience, and visibility for daily-needs retailers.
Investors benefit from a rare value-add retail opportunity supported by below-market rents, lease rollover, and conversion to NNN leases. The center includes a prime ±2,346 SF end-cap currently month-to-month, allowing an investor to mark-to-market quickly and drive meaningful NOI growth.
With strong in-place cash flow and ~20% rental upside, this is a stable infill Southern California asset with clear, executable value creation.
Zoned C-4 General Commercial with a Multifamily Overlay - allows for future high density residential uses
Investors benefit from a rare value-add retail opportunity supported by below-market rents, lease rollover, and conversion to NNN leases. The center includes a prime ±2,346 SF end-cap currently month-to-month, allowing an investor to mark-to-market quickly and drive meaningful NOI growth.
With strong in-place cash flow and ~20% rental upside, this is a stable infill Southern California asset with clear, executable value creation.
Zoned C-4 General Commercial with a Multifamily Overlay - allows for future high density residential uses
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$332,628
|
$23.39
|
| Other Income |
$36,561
|
$2.57
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$369,189
|
$25.96
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$93,850
|
$6.60
|
| Net Operating Income |
$275,339
|
$19.36
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $332,628 |
| Annual Per SF | $23.39 |
| Other Income | |
|---|---|
| Annual | $36,561 |
| Annual Per SF | $2.57 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $369,189 |
| Annual Per SF | $25.96 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $93,850 |
| Annual Per SF | $6.60 |
| Net Operating Income | |
|---|---|
| Annual | $275,339 |
| Annual Per SF | $19.36 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
14,220 SF
Building Class
B
Year Built
1961
Price
$4,300,000
Price Per SF
$302.39
Cap Rate
6.40%
NOI
$275,339
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.88 AC
Zoning
LKC4
Parking
55 Spaces (3.87 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7057-008-016 | Improvements Assessment | $221,878 |
| Land Assessment | $581,154 | Total Assessment | $803,032 |
PROPERTY TAXES
Parcel Number
7057-008-016
Land Assessment
$581,154
Improvements Assessment
$221,878
Total Assessment
$803,032
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First Time on Market in 40+ Years | Value-Add | 12205 Centralia St
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