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Smart & Final | Target & Lowe's Anchor 39228 10th St W 58,652 SF 100% Leased Retail Building Palmdale, CA 93551 $14,400,000 ($245.52/SF) 7% Cap Rate

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INVESTMENT HIGHLIGHTS

100% Occupied | NNN Leases | Recent 10-Year Renewal (Barnes & Noble) |Well-Known and Established Tenants
Palmdale Regional Medical Center | Amazon Distribution Center | Major Aerospace Facilities
Steady, Consistent Consumer Base | Hotel Cluster | Strong Demographics in 5-Mile Trade Area | Fast-Growing City

Signalized, Hard-Corner Intersection | Quick Access to State Highway 139 & 14 (89,000 VPD) | Excellent Visibility & Access
Palmdale Marketplace | Immense Retail Corridor

EXECUTIVE SUMMARY

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, two-tenant, Smart & Final and Barnes & Noble investment opportunity located in Palmdale, California. The tenants have 9.7 years of weighted term remaining and operate under corporate signed, NNN leases. Barnes & Noble recently signed a 10-year lease extension with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease also features $1.00 PSF rental increases every 5 years throughout the term and option periods, increasing NOI and hedging against inflation. Smart & Final is an established, California-based grocery store chain with over 250 locations. Barnes & Noble is the largest retail bookstore chain in the United States with more than 630 stores. Smart & Final reports exceptional store sales - contact agent for details.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Supermarket

Building Size

58,652 SF

Building Class

Year Built

1999

Price

$14,400,000

Price Per SF

$245.52

Cap Rate

NOI

$1,008,562

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.33

Lot Size

4.10 AC

Zoning

SP - Specific Plan

Parking

193 Spaces (3.29 Spaces per 1,000 SF Leased)

Frontage

2,642’ on 10th St W

Corner Lot
Dedicated Turn Lane

Food Court
Freeway Visibility

Pylon Sign

Signalized Intersection

Barnes & Noble
Retailer
99,999 SF
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Retailer
99,999 SF
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Smart & Final is a privately held grocery and supply warehouse chain founded in 1871, headquartered in Commerce, California. The company operates approximately 254 stores across the Western U.S. and northern Mexico, targeting both household and food service clientele. It is owned by Chedraui USA (formerly Bodega Latina Corporation), the U.S. subsidiary of Grupo Comercial Chedraui. Smart & Final has roots dating back to Hellman, Haas & Co., launched in Los Angeles in 1871, and merged with Smart & Final Wholesale Grocers in 1953. Over the decades, it expanded through the introduction of self-serve “cash-and-carry” models and the launch of Smart & Final Extra! stores in 2008. While privately held, the company remains a key regional player in the warehouse grocery segment.