815 E Avenue K - Supermarket FOR SALE


Lancaster, CA 93535
$9,750,000 USD
858-352-6742
815 E Avenue K, Lancaster, CA for Sale
$9,750,000 USD
Supermarket - FOR SALE
1/12
null | 5.89% Cap Rate

815 E Avenue K
Lancaster, CA 93535


HIGHLIGHTS

  • 2008 Construction Grocery Anchor Tenanted Store - 5.89% Cap Rate
  • 10% Increases upon each of the Two (2) remaining five-year renewal options
  • Los Angeles County - Good Supporting Demographics

OVERVIEW

It is a pleasure to present for sale the Vallarta Supermarket at 815 E. Avenue K in Lancaster, CA 93535, a NNN investment property that is well located for the demographic it supports, with all indications suggesting its continued success at this location. A private, family owned company, Vallarta Supermarkets has grown to over 55 stores across California since its inception in 1985. This location has been reported by executive management to be in the upper half of the overall Vallarta supermarkets locations in terms of annual store sales. Churning out a strong and steady cash flow, this essential business grocery store with carniceria, panaderia, and restaurant inside, has just under four (4) years remaining on its initial 20-year lease term, with Two (2) Five-year renewal options that coincide with 10% rent increases. This particular location was built in 2008, as the grocery anchor tenant of the Challenger (neighborhood) Center, with several national retailers supporting this grocery anchor, including: Walgreens, Starbuck's, McDonald's, Subway, et al. This Grocery Anchor tenant location has been a Vallarta supermarket since the Challenger Center was originally developed in/around 2008. Lancaster is located about 70 miles north of Los Angeles, near the Kern County line, separated from the Los Angeles Basin by the San Gabriel Mountains to the south. The population of Lancaster has grown from around 33,000 residents at his incorporation in 1977, to an estimated 166,236 residents in 7/2023.

FOR SALE DETAILS

PRICE

$9,750,000 USD

PRICE/SF

$232 USD /SF

CAP RATE

5.89%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vallarta Supermarket -815 E. Ave. K-Lancaster

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.49 AC

LAND SF

151,920 SF

ZONING

LRCPD

APN/PARCEL ID

3140-036-037

ASK ABOUT THIS PROPERTY

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858-352-6742

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Joseph BurroughPalma CommercialMore Info
858-352-6742

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