12205 Centralia St
Property Description
Family-owned asset and first time on the market in over 40 years! 12205 Centralia Street is a high-performing neighborhood retail strip center located in the dense, supply-constrained Lakewood/Cerritos submarket at the border of Los Angeles and Orange Counties. The ± 14,220 square foot multi-tenant center is situated on a large ± 38,522 square foot parcel with 135 total parking spaces for the shopping center through a reciprocal parking agreement (102 Open parking spaces + 5 ADA spaces with 28 rear alley parking spaces), providing excellent access, convenience, and visibility for daily-needs consumers.The asset offers investors an extremely rare value-add retail opportunity supported by immediate leasing upside, below-market rents, and conversion potential to NNN lease structures. The center currently includes a prime ±2,346 SF end-cap with a month-to-month tenant, enabling an investor to mark to market within 60 days while increasing occupancy and capturing a meaningful net operating income uplift.
Current in-place rents across the property remain materially below market, creating approximately 20% upside through renewal negotiation, new leasing, and transitioning leases to NNN. Once stabilized and at projected market rents, the asset yields a pro forma 7.94% cap rate, positioning it among the most attractive returns available at the neighborhood retail level in this region.
With high year-one income, robust year-two cash-on-cash returns, and baked-in leasing and rent growth potential, the Centralia property is a stable, cash-flowing investment with meaningful value-creation opportunities rarely available in infill Southern California.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $4,300,000 |
| No. of Units: | 4 |
| Average Occupancy: | 6.46 |
| Lot Size: | 14.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $1,075,000 |
| Property Website | Click Here |
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