1703 Palmdale BlvdPalmdale, CA 93550

Property Details for 1703 Palmdale Blvd

Year built

1986

Lot size

0.45 AC

Property size (Sq ft)

20,410 SF

Property type

Retail properties

Property subtype

Parking lots & garages

APN

3015-023-027

APU

3015023027

Description

This exceptional investment opportunity presents a 7,600-square-foot retail storefront in Palmdale, California, currently leased to WSS Shoes, a Foot Locker subsidiary. The property, located at 1703 E Palmdale Blvd, enjoys a high-traffic location at the intersection of East Palmdale Blvd (State Route 138) and 17th St East, boasting over 25,800 vehicles per day. Situated near major thoroughfares including California State Route 14 and Pearblossom Highway, this prime location ensures excellent visibility and accessibility. The property is a net-leased investment (fee simple) with a remaining lease term of approximately 3.2 years, bolstered by a recently signed five-year corporate lease extension with a further five-year option. This provides investors with significant long-term stability and minimal landlord responsibilities. The lease commenced October 20, 2011, and is set to expire January 31, 2028. The asking price is $2,620,000, representing a price per square foot of $344.74 and a compelling 5.22% capitalization rate based on a net operating income (NOI) of $136,800. WSS Shoes, a well-established national brand with a strong presence in the market, occupies the entire space. This investment offers a rare opportunity to acquire a high-performing retail asset in a densely populated area of Los Angeles County, within the Lancaster/Palmdale MSA. The property's strong tenant, favorable lease terms, and strategic location make it an attractive addition to any portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $9,521,293

  6.5%

  $8,788,886

  7%

  $8,161,108

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,780,537

  Geo Method

  $9,780,537

• Alternative Use

  Use

  Valuation

  Residential

  $7,413,754

  Hospitality

  $6,790,958

  Educational

  $5,649,998

  Medical

  $5,844,310

  Retail

  $8,788,886

Location Insight

City

Palmdale

County

Los Angeles

State

California

Latitude

34.5804

Longitude

-118.098

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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