Main Street Redevelopment
24237 Main St, Santa Clarita, CA 91321
For Sale
Contact for pricing
Retail, office, or multifamily redevelopment potential in Santa Clarita.
Property Size7,040 SF
Lot Size0.43 Acres
Price / SF$411.93
Days on Market304
Property Features for 24237 Main St
General Information
Standard status
Size
Lot size
Property subtype
Lease Type
Investment Type
Building Details
Units
Tenancy
Listing Agency:
Strategic Realty
Listed By:
Vic Deirmendjian · License #CA 00599219
(818) 519-6755
Source:
Crexi
Added: Jan 10
Changed: Oct 25
Last Checked: Nov 8 at 6:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Strategic Realty
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Investment Insights
Based on property information with market context.
This property presents an opportunity for an owner-user in retail or office, or for redevelopment into a multifamily property with up to 35 units. The offering includes an improved building facing Main Street and an adjacent vacant lot of approximately 6,500 square feet located behind the building. The total lot size is approximately 12,000 square feet. Situated on Main Street in Newhall, the property is located in the center of Santa Clarita. As a TOC site, the property is suitable for redevelopment into a multifamily over retail space. The property is partially rented on a short-term lease, providing income during the entitlement process. The building has a Property Size of 7,040 square feet.
Key Highlights
- Redevelopment potential for up to 35 units.
- Located in the epicenter of Santa Clarita (Main Street Newhall).
- Includes approximately 12,000 s.f. lot plus an adjacent lot of approximately 6,500 s.f.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,293
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,265,860
$2.3M
Cap Rate 7%
$1,618,471
$1.6M
Cap Rate 9%
$1,258,811
$1.3M
Market Conditions
NOI Build-Up for 7,040 SF
Gross rent
$169.0K $24.00/SF
− Vacancy
−$7.1K −$1.01/SF
EGI
$161.8K $22.99/SF
− OpEx
−$48.6K −$6.90/SF
NOI
$113.3K $16.09/SF
Area
Santa Clarita, CA
Vacancy
4.21%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,265,860
Cap Rate 7%
$1,618,471
Cap Rate 9%
$1,258,811
Alternative Uses
Best Use
Retail
$1.62M
$1.42M – $1.89M
NOI $113,293 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,500 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
38k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 44%
Groceries 4%
Home Improvements & Furnishings 4%
Jack in the Box
Dining
16,980 visits/mo
0.4 miles
ARCO
Shops & Services
11,236 visits/mo
0.3 miles
AMPM
Shops & Services
4,315 visits/mo
0.3 miles
Rocket Fizz
Groceries
1,451 visits/mo
0.3 miles
Ferguson
Home Improvements & Furnishings
1,377 visits/mo
0.4 miles
Demographics for 91321, CA
33,560
Population
11,257
Households
3
Avg Household Size
37
Median Age
31%
College-Educated
84%
High-School Grad
26.7 sq mi
ZIP Area
1,257
Density / Sq Mi
$93,281
Median Household Income
$40,544
Median Earnings
$2,135
Median Rent
$654,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Retail properties & Spaces in Santa Clarita
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail property - Retail, office, or multifamily redevelopment potential in Santa Clarita.
Where is this retail property located?
The property is located at 24237 Main St Santa Clarita, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Redevelopment potential for up to 35 units.; Located in the epicenter of Santa Clarita (Main Street Newhall).; Includes approximately 12,000 s.f. lot plus an adjacent lot of approximately 6,500 s.f.
