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Browse More Listings in Shopping Center For Sale, Lancaster, CA or California

Shopping Center For Sale

Dollar Tree Center - 12.06% Total Return

1061 E. Avenue J, Lancaster, CA 93535

Price:
$4,940,000
Gross Leasable Area:
32,662 SF
Price/SF:
$151.25
Property Type:
Shopping Center
Property Sub-type:
Community Center
Additional Sub-types:
Strip Center
Neighborhood Center
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
7.89%
Occupancy:
100%
No. Stories:
1
Tenancy:
Multiple
Year Built:
2005
Lot Size:
103,472 SF
Tax ID / APN #:
3147-008-036
Parking Ratio:
0.20 / 1,000 SF
Find Out More...

Last Verified 11/6/2009 Listing ID 16290961

Highlights

Total Center 70% Leased to National Tenants
Anchored by Dollar Tree
Shadow Anchored by CVS

Major Signalized Corner
New Construction 2005
Assumable Financing and 20% Seller Carry

Description

Challenger Square Phase II is a 32,662 SF shopping center redeveloped in 2005. 29,662 SF was completely remodeled and anchored by Dollar Tree. An outlying pad of 3,000 SF was newly built in 2005 and accommodates two 1,500 SF tenants. Check into Cash is a favorite Lancaster destination on paydays and provides a ready source of cash carrying customers for the rest of the center. Phase II has been enhanced with additional income from a cell tower.

The total center including Phase 1 is 60,113 SF and is shadow anchored by CVS and Hollywood Video. The Hollywood Video lease was affirmed in the recent reorganization action. Located in the Antelope Valley, the areas aviation industry and military facilities, provides many economic and employment opportunities

Financial Summary

Debt & Equity Information

Actual
Scheduled Gross Income
$530,931
Effective Gross Income
$504,385
Operating Expenses
$114,691
Net Operating Income
$389,694
Pre-Tax Cash Flow
$123,582

Map of 1061 E. Avenue J, Lancaster, CA 93535 (Los Angeles County)

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Contact Listing Broker

Greg Trotter (818) 205-2052

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Created 6/23/2009

Additional Information for 1061 E Avenue J, Lancaster, CA 93535

Active For Sale - 2 Listings
Active For Lease - 0 Listing
Previously Listed - 7 Historic Listings
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

Comparable Properties for 1061 E. Avenue J, Lancaster, CA 93535

Nearby Shopping Center properties for saleSearch all commercial real estate for sale

Challenger Square (Phase I)
$5,840,000
20,251 SF

Nearby Shopping Center properties for leaseSearch all commercial real estate for lease

Challenger Square
$2.00/SF/Month
1,049 SF
Lancaster Plaza
Negotiable
1,330 - 17,880 SF

Nearby Recently Sold Shopping Center propertiesSearch all recently sold commercial real estate

Strip Center
Sold 4Q 2007
Community Center
Sold 2Q 2006

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Shopping Center Property For Sale - Dollar Tree Center - 12.06% Total Return

1061 E. Avenue J, Lancaster, CA, 93535