1100 Avenue KLancaster, CA 93534

Property Details for 1100 Avenue K

Year built

1984

Lot size

1.06 AC

Property size (Sq ft)

14,000 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 14,000 square foot retail property in Lancaster, CA, presents a compelling investment opportunity. Located at 1100 W Ave K, 93534, this single-story, 1984-built (renovated 2021) building sits on a 1.06-acre lot and boasts a 100% occupancy rate across five units. The property features a diverse tenant mix, including Target, See's Candy, and Yoshinoya, with 60% of the gross leasable area (12,805 sq ft) leased to national credit tenants. The strong tenant base, coupled with NNN leases and built-in rent increases, ensures a stable and growing net operating income (NOI) of $569,043, resulting in a 7.25% cap rate. The asking price is $7,849,000 ($560.64/sq ft), with a land value of $195/sq ft. Situated on a heavily trafficked intersection (Avenue K and 10th Street) with over 64,000 cars daily, and conveniently located adjacent to CA Highway I-14, this property benefits from excellent visibility and accessibility. The surrounding area demonstrates significant growth, with a population exceeding 177,600 residents and an average household income of approximately $76,500 within a 5-mile radius. This prime location, combined with the strength of the tenant roster and the property's financial performance, makes it an ideal addition to any retail investment portfolio. The property is zoned for general commercial use. See's Candy has occupied its space since 1987.

Location Insight

City

Lancaster

County

Los Angeles

State

California

Latitude

34.6745

Longitude

-118.151

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