1852-1870 E Palmdale Blvd - Storefront Retail/Office FOR SALE


Palmdale, CA 93550
$3,700,000 USD
818-703-3735
1852-1870 E Palmdale Blvd, Palmdale, CA for Sale
$3,700,000 USD
Storefront Retail/Office - FOR SALE
1/11
null | 6.03% Cap Rate

1852-1870 E Palmdale Blvd
Palmdale, CA 93550


HIGHLIGHTS

  • Strong Retail Corridor with Multiple National Retailers in the Immediate Area
  • 7-Eleven Anchored Strip Center
  • Pro Forma Cap Rate 6.29% | Landlord Responsible For Roof & Structure
  • Yearly Rental Increases | Major Upside in Yum Yum Lease Coming Due April 2025 - Not Factored Into Pro Forma Cap Rate
  • Strong Tenant Base - Long Operating History
  • Dense Immediate Population | Signalized Corner

OVERVIEW

Floyd Shaheen of Marcus & Millichap has been selected to exclusively market for sale 1870 E. Palmdale Boulevard, a 7-Eleven anchored strip center located on the SW signalized corner of E. Palmdale Boulevard and 20th Street E in Palmdale, CA. The center sits east of the interstate 14 freeway in a main retail corridor of Palmdale. All four signalized corners of E. Palmdale Boulevard and 20th Street E are home to major national retailers, including Vallarta Supermarkets, Shell Gas, Chase Bank, Warehouse Shoe Supply, U.S. Bank, Boost Mobile, Carl’s JR., 99 Cents Only, Goodwill, Burger King and the United States Postal Service. The subject property sits just north of Palmdale High School, and there is dense residential surrounding the center 1870 E. Palmdale Boulevard is a 9,624 square foot strip center ideally situated on 33,541 square feet of land. Forty percent of the center is anchored by national tenants, 7-Eleven and Yum Yum Donuts. The seasoned tenant mix ideally caters to the surrounding tenants, and the well stabilized tenant roster has solid term remaining on the current leases with options. The average unit size is 1,193 square feet, and the spaces are ideal in their visibility and bay depth, all which eliminates downside risk and minimizes tenant improvement costs between tenants. This solid Palmdale location experiences high daily traffic counts with over 22,000 vehicles passing through the intersection per day. The immediate area has experienced population growth over the past years, and is projecting a 3.7% population growth over the next five years. There are over 160,000 people within a five mile radius, and a median household income of $55,000.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$384 USD /SF

CAP RATE

6.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven Anchored Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

48

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,373 SF

ZONING

PDC3*

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Floyd ShaheenFloyd GroupMore Info
818-703-3735

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Floyd ShaheenFloyd GroupMore Info
818-703-3735

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