656 Lancaster BlvdLancaster, CA 93534

Property Details for 656 Lancaster Blvd

Year built

1953

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

5,600 SF

Zone code

LRC3*

Property type

Retail properties

Property subtype

Retail space

APN

3134-016-010

APU

3134016010

Description

This exceptional 6,487 square foot retail property, located at 656 W Lancaster Blvd in Lancaster, CA 93534, presents a unique owner-user or investor opportunity. Situated on a 7,500 square foot lot, this single-story, Class B building boasts a prominent storefront with double door entry and floor-to-ceiling glass, ideal for high visibility businesses. Built in 1953, the property features two units, offering versatile space for a variety of uses, including retail, office, or restaurant. The layout includes a spacious retail area, private office, warehouse space with a roll-up door, elevated rear storage, and three restrooms. Multiple entrances enhance accessibility. Currently vacant with an occupancy date of July 26, 2024, this property is zoned for Downtown Specific Plan and offers almost 6,500 square feet of net rentable space, priced at $239.86 per square foot for a total asking price of $1,556,000. The property is held in trust and its APN is 3134-016-010. This high-traffic location in the heart of Downtown Lancaster provides excellent visibility and accessibility. The property's versatile layout and ample space make it an attractive option for a wide range of businesses seeking a prominent presence in a thriving downtown area. This is a truly exceptional opportunity for an owner-user or investor seeking a prime retail location in Lancaster, California.

• CAP approach

  CAP return

  Valuation

  6%

  $2,610,555

  6.5%

  $2,409,743

  7%

  $2,237,619

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,683,538

  Geo Method

  $2,683,538

• Alternative Use

  Use

  Valuation

  Residential

  $2,032,709

  Hospitality

  $1,861,950

  Educational

  $1,549,121

  Medical

  $1,602,397

  Retail

  $2,409,743

Location Insight

City

Lancaster

County

Los Angeles

State

California

Latitude

34.6976

Longitude

-118.141

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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