Historical Retail Sale Listing - Guitar Center Antelope Valley Mall

Retail For Sale

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Guitar Center Antelope Valley Mall

1011 West Rancho Vista Avenue, Palmdale, CA 93551

N/A

12,000 SF | Retail

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Guitar Center

Retail Property - Off Market

Price:
N/A
Building Size:
12,000 SF
Property Type:
Retail
Property Sub-type:
Retail (Other)
Additional Sub-types:
Free Standing Bldg
Property Use Type:
Business For Sale
No. Stories:
1
Lot Size:
52,000 SF
Listing ID
13843253
Last Updated
over 1 year ago

Highlights

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

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

Map of 1011 West Rancho Vista Avenue, Palmdale, CA 93551

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