6.6K SF retail building in Walmart out-parcel for sale

Located in the Northern Santa Barbara County City of Lompoc, 721 W Central Ave is a 6,600 SF retail strip center as an outparcel to Walmart. The center is 81% occupied and features Subway as well as the in-place Cannabis business, Royal Healing Emporium, as its anchors. The center is synergistically filled with quick service food operators and a dispensary providing a daily, internet-resistant tenant mix. The property lies on a main artery, Central Avenue, and is directly on the signalized corner of Central Ave and O St. The entire power center that includes Walmart and Foods Co. anchors the northern end of Lompoc just off the corner of Central Ave and Cabrillo Highway (CA Hwy-1), which is the city’s primarily traveled commercial corridor that also acts as the main gateway to Lompoc. The center caters to the charming central coast city providing a daily needs presence for its residents.

721 W Central Ave’s current and historical tenancy allows the investor to receive passive cash flow with little deferred maintenance. The investment sale includes the strong performing Cannabis Business, Royal Healing Emporium, that has historical gross sales of 3.5M/year. The business will come along with its rare operating licenses that allows the investor no downtime or lengthy approvals. The astute investor will benefit from a strong cash flowing business and property in the main draw of Lompoc.

Strong Cash Flowing Investment

The property is currently 80% leased with strong historical tenancy that includes Subway and formerly Round Table Pizza – now Pizza Garden. Pizza Garden has been a Lompoc staple and has operated in the city since 1997. The property has a strong recognizable mix of national/ local restaurants, as well as a popular draw from the dispensary.

Prime Corner Retail Strip Center/ Walmart Outparcel

Located in the best retail area in all of Lompoc. Walmart Supercenter and Foods Co anchor the property providing a large daily draw to the center. Many of the areas top recognizable national retailers are located in the immediate and surrounding section of Lompoc.

Top Performing Cannabis Business / Rare In-Place Licenses

Royal Emporium Healing is located on the end-cap directly facing the signalized corner. The business has become a focal point of the property and has a constant draw of customers. The business operates with all of it’s licenses with knowledgeable staff and security. The business has grossed over $3M in gross income each year for the past 3 years. The area/site is approved by the city allowing the investor to operate at this location without requiring new approvals/ applications/licenses/etc.

California Central Coast| Santa Barbara County

Lompoc is a charming city by the Central California Coast densely filled with businesses and amenities. Vandenberg Air Force / Space Force Base are main economic drivers/employers to the area. Much of the tourism to the area stems from the many wineries and the flower fields. Highway 1 (Cabrillo Highway) connects the central coast cities of Lompoc and Santa Maria to Santa Barbara down to the Southern Coast. As of 2021, the city of Lompoc has a population of 43,834.