Westlake Plaza | 8.20% Proforma Cap 5237-5263 Paramount Blvd 21,882 SF 90% Leased Retail Building Lakewood, CA 90712 $5,495,000 ($251.12/SF) 6.50% Cap Rate

5237–5263 Paramount Boulevard is a ±21,882 square foot multi-tenant retail center located in the dense, infill community of Lakewood, CA. Positioned along the high-traffic corridor of Paramount Blvd (±21,000 VPD), the property sits on ±1.60 acres and benefits from strong visibility, ample parking (3.98/1,000 SF), and monument signage. The center is currently occupied by 19 tenants, offering a diverse mix of service-oriented and food operators.
A compelling value-add opportunity, 9 of the 19 tenants have leases that are either month-to-month or set to expire by 2027, allowing an investor to re-tenant and mark rents to market in the near term. The property is currently leased at an average in-place rent of approximately $1.65/SF NNN, which is significantly below current market rents estimated to range between $2.00–$2.75/SF NNN. With in-place income and short-term lease rollover, this asset offers both immediate cash flow and a clear path to upside through leasing and repositioning.
Located in the heart of the Mid-Cities retail submarket, the property benefits from exceptional consumer spending, a daytime population of over 7,500 within a 1-mile radius, and proximity to national retailers and the Lakewood Center mall. The offering presents investors with a rare chance to acquire a well-located retail asset with mark-to-market upside in one of Southern California’s most supply-constrained submarkets.