This property is Off-Market

1011 West Rancho Vista Avenue
Palmdale, CA 93551 ·

12,000 SF · Retail For Sale

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Guitar Center Antelope Valley Mall

Price N/A Property Use Type Business For Sale
Building Size 12,000 SF No. Stories 1
Property Type Retail Lot Size 52,000 SF
Property Sub-type
Retail (Other)
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  • Free Standing Bldg
Listing ID: 13843253 Date Created: 01/23/2004 Last Updated: 12/07/2004

Description

Free standing retail building, originally constructed as a build to suit for Blockbuster's Music Group, the business went dark and the concept closed down in the late 1990's. Last year, the owner's opted for a buyout and simultaneously elected to sign an as-is deal with Guitar Center for the entire building. Guitar Center only needed 8,000 sq ft and rather then divide the premises the owner decided to lease the entire premises to this credit tenant for an under market rent. Essentially, the rent was what Guitar Center could pay for the size space they needed. Upside potential: In today's market, box space of this size should easily lease for $18.00 PSF NNN or higher. Guitar Center currently pays $9.20 PSF NNN. Further, at a price equaling $139.58 PSF, you are well below replacement cost.

Traffic count: 74,400 / Freeway traffic count: 63,000+ / Population: 3 Mile: 43,655 / Average Household Income: 1 Mile: $89,982

Highlights

  • Priced below replacement cost
  • Tenant improvements exceed $500,000

Research

1011 West Rancho Vista Avenue, Palmdale, CA 93551 (Los Angeles County)

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