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Lancaster Plaza 45216-45232 10th St W 26,650 SF 57% Leased Retail Building Lancaster, CA 93534 $3,400,000 ($127.58/SF) 4.61% Cap Rate
Investment Highlights
- Value-Add Opportunity with Cash Flow in Place
- Shadow Anchored by McDonald's and Auto Zone
- 4.61% CAP Rate at 57% Occupancy
Executive Summary
Lancaster Plaza is a value-add opportunity with cash flow in place. The subject property is located at the intersection of 10th Street West and Avenue I, two major thoroughfares with combined traffic counts exceeding 41,100 vehicles per day. The property is currently 57% occupied and is shadow anchored by McDonald's and Auto Zone. Lancaster Plaza is currently mismanaged and the seller has incomplete records. All buyers are encouraged to complete thorough due diligence.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
26,650 SF
Building Class
B
Year Built
1968
Price
$3,400,000
Price Per SF
$127.58
Cap Rate
4.61%
NOI
$156,744
Percent Leased
57%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.31
Lot Size
1.97 AC
Zoning
C - Lancaster Commercial
Parking
84 Spaces (3.15 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Sparklean Laundry
- Services
- -
- -
- -
- The Britisher
- Accommodation and Food Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Sparklean Laundry | Services | - | - | - | ||
| The Britisher | Accommodation and Food Services | - | - | - |
Walk Score®
Very Walkable (75)
Nearby Major Retailers
Property Taxes
| Parcel Number | 3135-019-008 | Improvements Assessment | $1,965,806 |
| Land Assessment | $1,137,429 | Total Assessment | $3,103,235 |
Property Taxes
Parcel Number
3135-019-008
Land Assessment
$1,137,429
Improvements Assessment
$1,965,806
Total Assessment
$3,103,235
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Lancaster Plaza | 45216-45232 10th St W
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