144 Palmdale BlvdPalmdale, CA 93550

Property Details for 144 Palmdale Blvd

Year built

1994

Construction

TILT-UP CONCRETE

Lot size

0.66 AC

Property size (Sq ft)

5,359 SF

Zone code

CPD

Property type

Retail properties

Property subtype

Other car washes

APN

3009-005-036

APU

3009005036

Description

This exceptional investment opportunity presents a single-tenant, Class B car wash center located at 144 E Palmdale Blvd, Palmdale, CA 93550. The property, situated on a substantial 2.8786-acre lot (APN 3009-005-036), boasts a 5,359 square foot building constructed in 1994 and renovated in 2021. Currently operating under a net lease, the property offers a secure investment with a 10-year lease commencing July 1, 2024, and expiring June 30, 2034, providing a remaining lease term of approximately 9.6 years. The lease includes two 5-year renewal options and a 3% rent increase every 24 months. The current base rent is $14,000 per month, with the tenant responsible for property taxes, generating a substantial net operating income (NOI) of $168,000. This translates to a compelling 7.00% cap rate and a price per square foot of $447.66. The property is zoned for commercial use and features one single-story building. This is an ideal investment for those seeking a stable, high-yield return with a long-term, established tenant in a prime location within Los Angeles County. The property's strong financial performance and long-term lease make it an attractive option for investors seeking a secure and profitable investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,506,402

  6.5%

  $2,313,602

  7%

  $2,148,344

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,568,050

  Geo Method

  $2,568,050

• Alternative Use

  Use

  Valuation

  Residential

  $1,951,610

  Hospitality

  $1,787,664

  Educational

  $1,487,315

  Medical

  $1,538,466

  Retail

  $2,313,602

Location Insight

City

Palmdale

County

Los Angeles

State

California

Latitude

34.5789

Longitude

-118.128

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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