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Goodwill Santa Clarita 24840 Pico Canyon Rd 21,554 SF Retail Building Santa Clarita, CA 91381 $7,520,000 ($348.89/SF) 7% Cap Rate
Investment Highlights
- Long-Term Stable Tenancy
- Recent Investment in the Building
- Freeway-Proximate, High-Visibility Location
- Lease Term Through June 2030
- Strong Visitation Statistics
- Supply-Constrained Submarket
Executive Summary
Long-Term Tenant Stability and Predictable Income - The property is occupied by a long-standing tenant that has operated at the location since 2010, demonstrating a strong commitment to the site. A 10-year lease extension executed in 2021 provides stable cash flow through June 2030, with an additional five-year renewal option extending occupancy potential through 2035.
Premier Location with Strong Consumer Access - Located just 0.3 miles from Interstate 5 and featuring frontage along Pico Canyon Road, the property benefits from exceptional visibility, convenient accessibility, and direct exposure to surrounding residential communities, supporting consistent customer traffic.
Proven Store Performance and Demand Drivers - The location ranks second among 13 Goodwill stores within a 15-mile radius and has recorded a 6.1% increase in visitation over the past three years. These performance metrics underscore the store's importance within the market and its ability to attract a growing customer base.
Well-Maintained Asset in a Supply-Constrained Market - Recent ownership invested $75,000 in a new roof, enhancing the property's long-term durability and reducing near-term capital needs. At the same time, limited new retail development in the surrounding submarket creates favorable competitive dynamics that support long-term occupancy and value appreciation.
Premier Location with Strong Consumer Access - Located just 0.3 miles from Interstate 5 and featuring frontage along Pico Canyon Road, the property benefits from exceptional visibility, convenient accessibility, and direct exposure to surrounding residential communities, supporting consistent customer traffic.
Proven Store Performance and Demand Drivers - The location ranks second among 13 Goodwill stores within a 15-mile radius and has recorded a 6.1% increase in visitation over the past three years. These performance metrics underscore the store's importance within the market and its ability to attract a growing customer base.
Well-Maintained Asset in a Supply-Constrained Market - Recent ownership invested $75,000 in a new roof, enhancing the property's long-term durability and reducing near-term capital needs. At the same time, limited new retail development in the surrounding submarket creates favorable competitive dynamics that support long-term occupancy and value appreciation.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
21,554 SF
Building Class
B
Year Built
1994
Price
$7,520,000
Price Per SF
$348.89
Cap Rate
7%
NOI
$526,349
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.31
Lot Size
1.62 AC
Zoning
C-3 General Commercial
Parking
60 Spaces (3.35 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
-
99,999 SF
-
$9.99
-
Jan 0000
Goodwill began in 1902 as a nonprofit movement built around collecting donated goods, repairing usable items, and using resale revenue to support people seeking work. Today, Goodwill operates as a network of community-based organizations that provide job training, employment placement services, and other programs for people facing barriers to employment. The organization uses donated-goods retail to fund local mission services, combining thrift operations with workforce development and community support. Goodwill's work spans employment readiness, skills-building, and reinvestment in local communities through its affiliated nonprofit model.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 99,999 SF | $9.99 | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2826-063-028 | Improvements Assessment | $1,958,901 |
| Land Assessment | $5,243,848 | Total Assessment | $7,202,749 |
Property Taxes
Parcel Number
2826-063-028
Land Assessment
$5,243,848
Improvements Assessment
$1,958,901
Total Assessment
$7,202,749
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