x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Ross, Lompoc, CA

Ross

Price $4,742,000
Cap Rate 6.00%
NOI $284,472
Lease Term 4 Years Remaining
Lease Type NN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot
Rental Increases $1 Per Square Foot Rental Increases in Option Periods
Year Built 1993
Building Size 31,608 SF
Lot Size 2.92 Acres (127,195 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #0171655

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Ross Stores, Inc. recently exercised the second option period
» Rare $1 per square foot fixed rental increases in option periods, providing a hedge against inflation
» Ross Stores, Inc. (NASDAQ: “ROST”) is an S&P 500, Fortune 500, and Nasdaq-100 company and has an “A-” credit rating from Standard & Poor’s and an “A2” credit rating from Moody’s
» Successful operating location since 2002, demonstrating well established long-term success in the trade area

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, AFFLUENT, AND GROWING CALIFORNIA CORRIDOR
» High-visibility retail anchor endcap at the hard-corner of California Highway 1/North H Street and East Central Avenue, Lompoc’s busiest intersection (combined 44,550 AADT)
» California Highway 1 serves as a major North-South California thoroughfare and coastal destination (5.8 million annual visitors)
» Average annual household income of $86,922 within five miles of the location
» Population of 55,231 within a five-mile radius of the location, creating a large customer base for the site
» Projected 15 percent average annual household income increase within a one-mile radius of the site in the next five years, poising Ross and Lompoc for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Located in the Mission Plaza Shopping Center, a ±164,000-SF community center featuring major national tenants including Albertsons, Big 5, Starbucks, Taco Bell, Panda Express, The Habit, and more
» Surrounded by several national retailers, including Walmart Supercenter, KFC, 7-Eleven, McDonald’s, The UPS Store, Wendy’s, and many more, promoting crossover shopping to the location
» Beneficial proximity to major community hubs, including Allan Hancock College (11,297 students) and Vandenberg Air Force Base (population of approximately 18,000)
» Central location within the Lompoc Unified School District (16 schools, 10,055 students)
» 10 miles from the Pacific Ocean and Lompoc-Surf, significantly increasing recreationist traffic to the site



Property Description

Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing California corridor. The site is a retail anchor endcap at the hard-corner of California Highway 1/ North H Street and East Central Avenue, Lompoc’s busiest intersection (combined 44,550 AADT). California Highway 1 also serves as a major North-South California thoroughfare and coastal destination (5.8 million annual visitors). 55,231 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The location resides in an affluent area, with an average annual household income of $86,922 within five miles of the location. The site is also primed to grow along with the surrounding area, with a projected 15 percent average annual household income increase within one mile of the site in the next five years.

Traffic to the site is greatly increased by its central location near large employers, retailers, and community hubs. The property is located in the Mission Plaza Shopping Center, a ±164,000-SF community center featuring major national tenants including Albertsons, Big 5, Starbucks, Taco Bell, Panda Express, The Habit, and more. The site is also immediately surrounded by several other successful national retailers, including Walmart Supercenter, KFC, 7-Eleven, McDonald’s, The UPS Store, Wendy’s, and many more, promoting crossover shopping to the location. The property resides within the Lompoc Unified School District, a large district which features 16 schools and 10,055 students. The location also serves as a gateway to the Pacific Ocean and Lompoc-Surf, significantly increasing recreationist traffic to the site. The property maintains a beneficial proximity to major community hubs, including Allan Hancock College (11,297 students) and Vandenberg Air Force Base (population of approximately 18,000).

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link