311-321 North 2nd Street presents a compelling investor or owner-user opportunity in one of the most in-demand product types: small-bay industrial. The buildings feature freespan ceilings, flexible loading, and ample onsite parking in a convenient Lompoc location. Currently at 50% occupancy, the property offering flexible acquisition strategies. An investor can execute a straightforward lease-up to stabilize and position for a refinance or exit. An owner-user can occupy one or more units and offset costs with income from the leased portion. The asset can be acquired at a 5.27% in-place cap with a clear path to 7.10% stabilized, underpinned by Lompoc’s demand drivers including Vandenberg Space Force Base, regional agriculture, and a growing services sector.