15283 Pahute St 36,233 SF Office Building Victorville, CA 92395 $13,800,000 ($380.87/SF) 7.93% Cap Rate

15283 Pahute Avenue presents the opportunity to acquire a single-tenant absolute net leased office investment located in Victorville, California. The property consists of an institutional-quality ±36,233 square foot office facility situated on ±3.27 acres and was constructed in 2010 as a build-to-suit for Azusa Pacific University.
The asset is 100% leased to Azusa Pacific University under a true NNN structure, with the tenant responsible for taxes, maintenance, and utilities, providing investors with a highly passive ownership profile. The property currently generates approximately $1.09 million in annual rent, with scheduled rent growth, and is offered at an acquisition price of $13.8 million, reflecting an 8.17% cap rate.
Azusa Pacific University operates a successful nursing program from the property, reinforcing the strategic importance of the location within the university’s regional footprint. The lease runs through January 2029, with two additional five-year renewal options, creating both near-term income stability and potential long-term upside through renewal, repositioning, or future re-tenanting.
Strategically positioned near Interstate 15 with convenient access via Bear Valley Road, Nisqualli Road, and Pahute Avenue, the property benefits from strong regional connectivity within the High Desert. The location serves a growing regional population base of approximately 450,000 residents across Victorville, Hesperia, Apple Valley, Adelanto, and surrounding communities.
With strong in-place cash flow, minimal landlord responsibilities, an established institutional tenant, and a well-located build-to-suit facility in one of the Inland Empire’s tighter office submarkets, 15283 Pahute Avenue offers investors a compelling net-leased office investment opportunity.