Westlake Plaza | 8.20% Proforma Cap 5237-5263 Paramount Blvd 22,627 SF 90% Leased Retail Building Lakewood, CA 90712 $5,495,000 ($242.85/SF) 7.24% Cap Rate

Graystone Capital Advisors is pleased to present a compelling value-add investment opportunity at 5237–5263 Paramount Boulevard, Lakewood, CA. This ±22,627 square foot, multi-tenant retail center is situated on 69,696 SF (±1.60 AC) in a dense, infill Los Angeles County location. Positioned along the high-traffic corridor of Paramount Boulevard (±21,000 VPD), and the ±36,000 VPD intersection of Paramount Boulevard & Candlewood Street. The property offers strong visibility, monument signage, and 81 on-site parking spaces (3.7/1,000 SF).
Offered at a list price of $5,495,000, Westlake Plaza delivers a 7.24% current cap rate and price per square foot of $242.85, supported by stable in-place income and significant upside potential. The property is currently 93.83% leased to 16 tenants, with 8 leases set to expire or on month-to-month terms by 2027, and one vacant suite. Current in-place rents average $1.51/SF NNN, substantially below estimated market rates of $2.00–$2.75/SF NNN, providing an opportunity to capture mark-to-market rental growth. Pro forma stabilization projects at 8.42% cap rate through lease-up and rent increases. The NNN lease structure minimizes landlord responsibilities, ensuring predictable cash flow. Short-term lease rollover provides the ability to re-tenant at market rates, with projected pro forma annual rental income increasing from $397,942 (current) to $462,727 upon stabilization.
Situated in the heart of the Mid-Cities retail submarket, the property benefits from exceptional consumer spending power, over 230,000 residents within a three-mile radius, a daytime population of over 7,500 within one mile, and proximity to national retailers and the Lakewood Center mall. The Mid-Cities submarket is known for its below average vacancy rates, strong tenant retention, and limited new development, providing a stable foundation for neighborhood-serving retail.
With its dense infill location, strong leasing fundamentals, and substantial mark-to-market potential, Westlake Plaza offers investors a rare opportunity to acquire a well-located retail asset in one of Southern California’s most supply-constrained submarkets. This investment combines in-place cash flow, operational stability, and clear upside through strategic leasing and repositioning—ideal for both seasoned and first-time investors seeking long-term returns.