1224 N H St

  • 129,373 Square Feet
  • Retail
  • For Sale

Summary Description

Sale Note
The property is located along Lompoc’s busiest retail corridor, at a fully signalized intersection with frontage along North H Street (Hwy 1). This ±2.97 acre parcel of commercial land is currently leased to and occupied by the Lompoc Honda Dealership located at 1224 N. H Street. The auto dealership improvements and service areas, are not included in sales price. The existing lease has 60+years remaining (2078) on the initial term. Biennial lease adjustments occur every 2 years. The adjustments are equal to the previous two (2) year combined increases of the published Consumer Price Index (CPI) aggregate and applied to the base rent every other year, in the month of November. The next scheduled adjustment is November of 2017. There are no landlord responsibilities.

Lot Size: 129,373 Square Feet

Building Size: 129,373 Square Feet

Area Available: 129,373 Square Feet

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