First Time on Market in 40+ Years | Value-Add Retail
Retail | 6.42% CAP | 14,220 SqFt
Marketing description
Family-owned asset and first time on the market in over 40 years! 12205 Centralia Street is a stable but underperforming neighborhood retail strip center located in the dense, supply-constrained Lakewood/Cerritos submarket at the border of Los Angeles and Orange Counties. The property totals ±14,220 SF on a ±38,522 SF parcel with 135 parking spaces via reciprocal parking agreement, offering excellent access, convenience, and visibility for daily-needs retailers.
Investors benefit from a rare value-add retail opportunity supported by below-market rents, lease rollover, and conversion to NNN leases. The center includes a prime ±2,346 SF end-cap currently month-to-month, allowing an investor to mark-to-market quickly and drive meaningful NOI growth.
With strong in-place cash flow and ~20% rental upside, this is a stable infill Southern California asset with clear, executable value creation.
Zoned C-4 General Commercial with a Multifamily Overlay - allows for future high density residential uses
Investment highlights
Family owned asset - First Time on the Market in 40+ years
Value Add Opportunity - Roughly 20% Upside by bringing rents to market and converting to NNN leases
Prime 2,346 Square Foot End Month to Month Tenancy - Opportunity to Mark to Market Immediately
6.42% Current Cap Rate
Clear Path to 7.59% Cap Rate Year 2 - End Cap Month to Month
Abundant Parking - 135 Total Shopping Center Parking Spaces
Traffic Counts Between 16K - 21K Vehicles Per Day
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