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660-668 Lancaster Blvd 6,139 SF 100% Leased Retail Building Lancaster, CA 93534 $1,500,000 ($244.34/SF) 4.59% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Downtown Lancaster Location
- Potential to Occupy the Restaurant Space
- SBA Financing Available for Owner/User Buyers
- Owner/User Potential with 51% of the Building Month to Month
- Value Add Through Lease Increases
- Recently Rennovated
EXECUTIVE SUMMARY
Kidder Mathews and Boardwalk Real Estate are pleased to present for sale 660-668 Lancaster Boulevard in Downtown Lancaster. This charming property is ideal for an Owner/User or Investor. An Owner/User can occupy 3,688 square feet (51%), currently occupied by the Restaurant, which is on a month to month Tenancy. The Buyer could obtain favorable SBA financing given the 51% occupancy requirement. This is also an ideal Purchase for an investor who can increase the rents on the spaces. Our pro-forma cap rate is 7.43%. There is a favorable Tenant Mix of a restaurant, pastry store, and clothing store.
There has been a significant amount of development in the Downtown area and this property sits in the heart of it all.
There has been a significant amount of development in the Downtown area and this property sits in the heart of it all.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
6,139 SF
Year Built/Renovated
1950/2024
Price
$1,500,000
Price Per SF
$244.34
Cap Rate
4.59%
NOI
$68,850
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.41
Lot Size
0.34 AC
Opportunity Zone
Yes
Zoning
BD-2 - Boulevard District-2 Downtown Specific Plan
Parking
37 Spaces (3.09 Spaces per 1,000 SF Leased)
Frontage
97’ on West Lancaster Boulevard
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 3134-016-011 | Improvements Assessment | $714,000 |
| Land Assessment | $357,000 | Total Assessment | $1,071,000 |
PROPERTY TAXES
Parcel Number
3134-016-011
Land Assessment
$357,000
Improvements Assessment
$714,000
Total Assessment
$1,071,000
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660-668 Lancaster Blvd
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