Highlights

• 400 Parking Spaces

Description

8.18% CAP on ACTUAL income. 144,000 SF of building on nearly 13.5 acres of land. This offering provides an excellent value at only $73 Per Sq. Ft. on Building with an $18 Price Per Sq. Ft. on Land. The two largest retail spaces are leased by Burlington Coat Factory (National Credit) and Factory-2-U (over 200 locations). There are 2 smaller/existing vacancies on site. Potential owner may purchase/hold for value and/or lease-up to gain significant additional income. At conservative lease rates, the cap rate would move to well over 11.4%. Comparable deals, currently on market, within 1 Mile are being offered well over $400 Per Sq. Ft. This deal is an excellent value with stable existing income and upside potential.

Prime Power Center parcels at 320 W. Rancho Vista with high freeway visibility located just east of the 14 freeway in Palmdale, CA. Tenants within the center include Home Depot, 99 Cents Only stores and Payless Shoes. Adjacent sites include Subway, Marriott Hotels, Citibank, Jack in the Box, etc. The main entrance to the Center is inline/adjacent to the subject property. The location provides high traffic as Home Depot & 99 Cents Only customers must pass the subject to gain access to the rest of the Center.
City of Palmdale has over 145,000 residents with an average household income of $88,746. Retail spending has nearly
quadrupled since 1991.