0 Atstar StVictorville, CA 92395

  • Retail properties
  • 24,780 SF
For Sale
$2,400,000 View listing

Property Details for 0 Atstar St

Year built
1990
Property size (Sq ft)
24,780 SF
Property type
Retail properties
Property subtype
Lifestyle centers

Description

This 24,780 square foot shopping center in Victorville, CA, presents a compelling value-add investment opportunity. Located at 14464 Atstar St, this single-story, Class C property boasts 10 tenants across a multi-tenant configuration, currently operating at 40% occupancy. Built in 1990, the center sits on an 81,892 square foot lot, offering significant potential for redevelopment or repositioning. The asking price is $2,400,000, translating to $96.85 per square foot. The current Net Operating Income (NOI) is $160,000, yielding a 6.67% capitalization rate. However, a pro-forma analysis projects a significantly higher NOI of $288,264 and a 12.01% capitalization rate, reflecting the substantial upside potential inherent in increasing occupancy and lease rates. The land value alone is $29.30 per square foot. This property is ideally suited for an owner-operator seeking to enhance profitability through lease management and potential renovations. The property's location offers high visibility and traffic, further enhancing its investment appeal. The modified lease structure provides flexibility for future tenant negotiations. The absence of a tenant credit rating presents a unique opportunity for strategic lease structuring. This property offers a rare chance to acquire a well-located retail center with significant upside potential at a competitive price per square foot.

Atstar St, Victorville, California

Location Insight

City
Victorville
County
San Bernardino
State
California
Latitude
34.5132
Longitude
-117.319

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