Two-Tenant Medical Office
38209 47th Street East, Palmdale, CA 93552
For Sale
Contact for pricing
Net leases and medical and dental occupants define the property’s current operating structure.
Property Size10,001 SF
Lot Size1.25 Acres
Price / SF$613.44
Days on Market21
Property Features for 38209 47th Street East
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Tenant in Place
Property Use
Medical Specialty
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Newmark | Los Angeles - Downtown
Listed By:
Kyle Miller · License #NV S.0196952
(310) 227-0826
Source:
Crexi
Added: Oct 20
Changed: Nov 8
Last Checked: Nov 8 at 3:39PM
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 Newmark | Los Angeles - Downtown
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Investment Insights
Based on property information with market context.
This medical and dental property occupies 1.25 acres and is leased to High Desert Medical Corp. and Pacific Dental Services, LLC. Their respective spaces comprise 6,199 square feet and 3,802 square feet. Both leases are NNN and include rent increases of 3% annually and 12% every five years. The weighted average remaining lease term is approximately 8.4 years as of October 2026.
High Desert Medical’s lease expires February 29, 2036, with one five-year option at fair market value. Pacific Dental’s term ends November 30, 2033, with two five-year options at fixed rent. The property is an outparcel to Home Depot and Super Target in Palmdale, California.
High Desert Medical’s lease expires February 29, 2036, with one five-year option at fair market value. Pacific Dental’s term ends November 30, 2033, with two five-year options at fixed rent. The property is an outparcel to Home Depot and Super Target in Palmdale, California.
Key Highlights
- Leased to High Desert Medical Corp. and Pacific Dental Services, LLC
- Tenant spaces total 6,199 SF and 3,802 SF, respectively
- 1.25‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$216,238
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,324,760
$4.3M
Cap Rate 7%
$3,089,114
$3.1M
Cap Rate 9%
$2,402,644
$2.4M
Market Conditions
NOI Build-Up for 10,001 SF
Gross rent
$343.2K $34.32/SF
− Vacancy
−$54.9K −$5.49/SF
EGI
$288.3K $28.83/SF
− OpEx
−$72.1K −$7.21/SF
NOI
$216.2K $21.62/SF
Area
Palmdale, CA
Vacancy
16.00%
Lease Rate
$34.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,324,760
Cap Rate 7%
$3,089,114
Cap Rate 9%
$2,402,644
Alternative Uses
Best Use
Office B
$3.09M
$2.70M – $3.60M
NOI $216,238 @ 7.0% cap · market cap 3.52%
Second Best
Healthcare Medical
$2.66M
$2.33M – $3.11M
NOI $186,499 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$4.22M
$3.69M – $4.93M
NOI $295,594 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 93552, CA
42,468
Population
11,329
Households
3.7
Avg Household Size
32
Median Age
12%
College-Educated
76%
High-School Grad
38.4 sq mi
ZIP Area
1,106
Density / Sq Mi
$84,894
Median Household Income
$39,764
Median Earnings
$1,851
Median Rent
$414,600
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Los Angeles County, CA
Properties on Market for Medical Office Space in Los Angeles County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Net leases and medical and dental occupants define the property’s current operating structure.
Where is this medical office space located?
The property is located at 38209 47th Street East Palmdale, CA.
What is the asking price?
The asking price for this property is $6,135,000.
What are key features of this property?
This property features: Leased to High Desert Medical Corp. and Pacific Dental Services, LLC; Tenant spaces total 6,199 SF and 3,802 SF, respectively; 1.25‑acre site
