14598 7th St - Freestanding FOR SALE


Victorville, CA 92395
$7,510,000 USD
951-479-7994
14598 7th St, Victorville, CA for Sale
$7,510,000 USD
Freestanding - FOR SALE
1/4
null | 6.5% Cap Rate

14598 7th St
Victorville, CA 92395


HIGHLIGHTS

  • Close proximity to Interstate 15
  • Top performing retailers
  • Upside potential
  • Depreciable Asset

OVERVIEW

Progressive Real Estate Partners is proud to present a prime portion of Victor Town Center – a 100% leased 3-tenant retail investment opportunity in the well established and growing city of Victorville, CA (ranked #13 in SmartAsset’s Top 100 Boomtowns in America). The subject property is leased to a nationwide top 10% performing dd’s Discounts (Ross Stores, Inc.), a state-of-the-art VA Outpatient Medical Facility (STG International), and a 16-stall Tesla Supercharger station (Tesla, Inc). The property features NNN leases, low replaceable in-place rents averaging just $0.87/SF, highly invested tenants (the VA is estimated to have spent over $2M in tenant improvements)— all of which is offered at a below-replacement cost price of $158/SF. Leases feature 10% increases every 5-years, providing a strong hedge against inflation. Further, the property features a ±3,750 SF partially enclosed former garden center, providing investors the opportunity to capture additional upside by enclosing the area and creating additional leasable space.

FOR SALE DETAILS

PRICE

$7,510,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Victor Town Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

262

LAND DETAILS

LAND ACRES

5.32 AC

LAND SF

231,739 SF

ZONING

Specific Plan

APN/PARCEL ID

3106-262-19

ASK ABOUT THIS PROPERTY

Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

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Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.