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