THE OFFERING
Lilly Enterprises, Inc. and Kidder Matthews are pleased to present the exclusive listing of 660-668 West Lancaster Boulevard, a fully occupied storefront retail property nestled in the heart of Downtown Lancaster. Built in 1950, this commercial property benefits from its unparalleled location with high foot traffic and visibility. The building is single-story and approximately 6,136 square feet. There are three (3) retail suites which are leased to a diverse set of tenants. Behind the structure, there is a parking lot suitable for everyone visiting the site. There are approximately nineteen (19) striped spaces, including one (1) handicap space. The Offering sits on a single corner parcel totaling 15,000 square feet of land with BD-2 zoning. The Offering can serve a passive cash flow investment and/or an owner-user opportunity for those seeking to establish a business along the main thoroughfare of the arts district.
The property is in excellent condition with substantial improvements made over recent years. Two of the suites have been completely rebuilt in 2014 and all suites have upgraded HVAC units. The building also features a brand-new roof and an electric gated fence that secures the premises. The Offering has not been on the market in over 30 years, making this a rare opportunity to acquire a fully turnkey commercial asset along the prime retail strip of Lancaster Boulevard.
INVESTMENT HIGHLIGHTS
-Fully occupied multi-tenant retail storefront in the heart of Downtown Lancaster
-First time on the market in over 30 years
-Unparalleled location with high foot traffic and visibility
-Nearby the Lancaster Performance Arts Center, Regency Theatres and Museum of Art & History
-Two (2) suites have been completely rebuilt in 2014, all suites have upgraded HVAC units, a new roof was recently installed
-19 gated parking spaces in rear of building
-Ideal investment opportunity for passive cash-flow and/or owner-user
-Current operating 5.06% CAP rate with a projected stabilized 8.47% CAP rate
DOWNLOADS
CONTACT
Matthew Lee | Executive Managing Director/Property Supervisor | CalBRE # 01881080 | Office: (310) 324-7400 Ext. 201 | Cell: (323) 533-8818 | Email: MattLee.lpm@gmail.com
