39212 10Th StPalmdale, CA 93551

Property Details for 39212 10Th St

Year built

1999

Construction

TILT-UP CONCRETE

Lot size

4.10 AC

Property size (Sq ft)

61,883 SF

Zone code

PDMPD*

Property type

Retail properties

Property subtype

Community centers

APN

3003-085-022

APU

3003085022

Description

This exceptional investment opportunity presents a 58,652 square foot retail property in Palmdale, California, currently 100% occupied by a Smart & Final grocery store and a Barnes & Noble bookstore. The property, part of the Palmdale Marketplace, boasts a strong 7.25% cap rate and a substantial net operating income (NOI) of $1,028,523. Both tenants enjoy long-term leases; Smart & Final recently extended their lease for 12 years (2022), and Barnes & Noble for 10 years (2024). The Barnes & Noble location is a top performer, ranking first within a 30-mile radius and in the 83rd percentile company-wide in customer visits. The property benefits from its strategic location adjacent to Highway 14 and 10th Street West, a major retail corridor with high daily traffic counts. The surrounding area features a robust population and strong average household incomes, further enhancing the property's value. The center also benefits from the presence of other national anchor tenants, including Target and Lowe's, creating a synergistic retail environment. Built in 2000, this 4.09-acre property offers a secure and profitable investment opportunity with a proven track record of success. The asking price is $14,195,000, translating to $242.02 per square foot. The property's APN is 3003-085-022.

• CAP approach

  CAP return

  Valuation

  6%

  $28,955,382

  6.5%

  $26,728,046

  7%

  $24,818,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $29,654,532

  Geo Method

  $29,654,532

• Alternative Use

  Use

  Valuation

  Residential

  $22,546,106

  Hospitality

  $20,652,112

  Educational

  $17,182,316

  Medical

  $17,773,242

  Retail

  $26,728,046

Location Insight

City

Palmdale

County

Los Angeles

State

California

Latitude

34.5962

Longitude

-118.145

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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