1011 West Rancho Vista Avenue
Palmdale, CA 93551 ·
12,000 SF · Retail For Sale
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|
|Listing ID: 13843253||Date Created: 01/23/2004||Last Updated: 12/07/2004|
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
- Priced below replacement cost
- Tenant improvements exceed $500,000
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