For Sale
$4,048,000

39202 10Th StPalmdale, CA 93551

Net-leased WSS in prime Palmdale location. High-traffic area, strong demographics.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a single-tenant, net-leased retail property occupied by WSS within the thriving Palmdale Marketplace shopping center. The property boasts a brand-new 10-year lease commencing March 25, 2025, and expiring March 24, 2035, with four 5-year renewal options, each including a 10% rent increase. The 9,200 square foot building, constructed in 2021, sits on a 0.52-acre lot and enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $253,000, representing a 6.25% cap rate. The asking price is $4,048,000, translating to $440 per square foot and $178.71 per square foot of land value. The property benefits from its strategic location on 10th Street West, a high-traffic thoroughfare with 32,000 vehicles per day, providing excellent visibility within the center. Palmdale Marketplace itself draws 6.3 million visitors annually. The surrounding area features a dense residential population (127,100+ within a 5-mile radius) and high average household income ($104,600+ within a 1-mile radius), further enhancing the investment's appeal. The tenant, WSS, is undertaking over $320,000 in improvements, with an estimated opening in the first quarter of 2025. The property's proximity to Antelope Valley Freeway (85,000 VPD) and Palmdale Regional Medical Center adds to its strategic advantages. This is a rare opportunity to acquire a stable, high-performing retail investment in a rapidly growing market.

Highlights

  • Located in the high-traffic Palmdale Marketplace (6.3M annual visits).
  • Brand new, 10-year net-net lease with limited landlord responsibilities.
  • Four 5-year lease options.
  • Strong demographics: $104,600+ average household income within a 1-mile radius.
  • High visibility location at the entry point of 10th St W (32,000 vehicles per day).
  • Tenant investing over $320,000 in improvements.

Property Details for 39202 10Th St

Property type
Lifestyle centers, Power centers
Square Feet
9,200 SF
Year Built
2021
Buildings
1
Stories
1
Lot Size (sq. ft)
22,651 SF
Units
1

Location Insight

City
Palmdale
County
Los Angeles
State
California
Latitude
34.595835201193
Longitude
-118.147521179
39202 10Th St, Palmdale, California

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39202 10Th St
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