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5038 W Avenue N
Palmdale, CA 93551
Smart & Final | 14 Year NNN Lease | LA County · Retail Property For Sale
Investment Highlights
- Absolute NNN lease with 14 years remaining and 2% annual rent escalations, meaning no landlord responsibility and increasing returns.
- Smart & Final is one of the largest grocery operators in the Western United States with 250+ locations in the country and additional stores in Mexico.
- The store has seen 18% unit-level sales growth at this location since 2017, showing that the grocer has established it's brand name in the community.
- In 2016, the building was renovated at the tenant's expense in order to build out a separate unit that is now subleased to Dollar Tree.
- Strategically located in an area with no other grocery stores within a two-mile drive, offering significant market share and minimal competition.
Property Facts
Property Type
Retail
Building Size
58,033 SF
Building Class
B
Year Built
2004
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.20
Lot Size
6.58 AC
Zoning
PDC3 - Planned Development Commercial
Parking
200 Spaces (3.45 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
Property Taxes
| Parcel Numbers | Improvements Assessment | $15,916,117 | |
| Land Assessment | $7,464,145 | Total Assessment | $23,380,262 |
Property Taxes
Parcel Numbers
Land Assessment
$7,464,145
Improvements Assessment
$15,916,117
Total Assessment
$23,380,262
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