108-124 East Ocean Avenue | Lompoc, CA
Status: For Sale
Property Type: Retail
Square Feet: 6,081
Pro Forma Cap Rate: 8.42%
Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire the fee-simple interest in 108-124 East Ocean Avenue (“the Property”), located in the growing city of Lompoc, CA. Located on the bustling Ocean Avenue thoroughfare and with easy access to Highways 1 and 246, the Property offers a high-visibility value-add opportunity.
Built in 1959, this 6,081 square foot property offers a rare opportunity for an owner-user or investor to acquire a multi-tenant retail building with immediate upside potential. Currently, the Property has one month-to-month tenant, allowing an owner-user immediate use or an investor the opportunity to lease out at market rates. The Property is currently divided into three separate units (each with their own APN), with two restrooms in each unit. The Property includes an over-sized parking lot and additional land which has development potential. The Property consists of seven separate parcels totaling 27,874 square feet of land. The building has two vacant units in vanilla shell condition with the third unit occupied by a local nail salon.