For Sale
$4,525,896

14790 La Paz Dr Victorville, CA 92395

High-yield, NNN-leased Big Lots property.

Overview

Added:
Dec 11, 2024
Days on market:
138
This fee-simple retail property in Victorville, CA, presents a compelling investment opportunity. The 25,838 square foot building sits on a 94,968 square foot lot and is 100% occupied by a Big Lots store under a 20-year absolute NNN lease with a corporate guarantee. The lease features a 2% annual rent increase, ensuring consistent income growth. The property boasts a strong NOI of $282,868 and a 6.25% cap rate, with an asking price of $4,525,896 ($175.16/sq ft). Located at 14790 La Paz Dr, Victorville, CA 92395, the property benefits from excellent visibility and access within a thriving retail corridor. The surrounding area demonstrates strong demographics, with an average population exceeding 144,000 within three miles and average household incomes nearing $86,100. The property is offered as a 1031 exchange opportunity and is free and clear of financing, allowing investors to leverage favorable debt markets. The large lot size presents potential for future value-add opportunities, such as pad development, subject to tenant approval. This offering provides a strong intrinsic value, potentially below replacement cost, and offers long-term residual value.

Highlights

  • Investment-grade net lease properties anchored by Big Lots (NYSE: BIG).
  • 20-year absolute net leases with 2% annual rent increases.
  • Strong locations in high-traffic retail corridors and industrial hubs, primarily in CA, CO, FL, and TX.
  • Exceptional demographics: >144,000 population and ~$86,100 average household income within 3 miles; >333,000 population and >$93,000 average household income within 5 miles.
  • Below-market rents averaging $10.00 PSF.
  • Debt-free acquisition.

Property Details for 14790 La Paz Dr

Property type
Retail properties, Grocery and convenience stores
Square Feet
25,838 SF

Location Insight

City
Victorville
County
San Bernardino
State
California
Latitude
34.5201601
Longitude
-117.3154616

FAQs

What type of property is this?
Retail property - High-yield, NNN-leased Big Lots property.
Where is the retail property located?
The property is located at 14790 La Paz Dr Victorville, CA.
What is the asking price?
The asking price for this property is $4,525,896.
What are key features of this property?
This property features: Investment-grade net lease properties anchored by Big Lots (NYSE: BIG).; 20-year absolute net leases with 2% annual rent increases.; Strong locations in high-traffic retail corridors and industrial hubs, primarily in CA, CO, FL, and TX.
How can I contact the broker?
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14790 La Paz Dr
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