NNN-Leased Tire Service
38235 47th Street East, Palmdale, CA 93552
For Sale
Contact for pricing
The freestanding building operates under an absolute NNN ground lease with scheduled five-year rent increases.
Property Size7,000 SF
Lot Size2.20 Acres
Price / SF$247.50
Days on Market21
Property Features for 38235 47th Street East
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Tenancy & Operations
Tenant in Place
In-Place Lease Type
Current Tenants
Real Estate Included
Additional Details
Anchor Co-Tenants
Automotive Uses
Building Details
Buildings
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 4:20PM
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 freestanding tire service property occupies approximately 7,000 square feet on a 2.2-acre parcel in Palmdale, California. The tenant constructed the building, which is leased on an absolute NNN basis. The ground lease began in July 2013 with an initial 20-year term, fixed increases every five years, and seven five-year extension options. Halle Properties, L.L.C. is the lease tenant, and the store operates as America's Tire.
The property is positioned at the west end of 47th Street Pavilion, in front of a Home Depot. The location is reported to rank fifth nationally by number of visits, based on Placer.ai data.
The property is positioned at the west end of 47th Street Pavilion, in front of a Home Depot. The location is reported to rank fifth nationally by number of visits, based on Placer.ai data.
Key Highlights
- Approximately 7,000‑square‑foot freestanding tire service building
- 2.2‑acre parcel within 47th Street Pavilion
- Absolute NNN ground lease began in July 2013 with an initial 20‑year term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,467
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,389,340
$2.4M
Cap Rate 7%
$1,706,671
$1.7M
Cap Rate 9%
$1,327,411
$1.3M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$180.6K $25.80/SF
− Vacancy
−$9.9K −$1.42/SF
EGI
$170.7K $24.38/SF
− OpEx
−$51.2K −$7.31/SF
NOI
$119.5K $17.07/SF
Area
Palmdale, CA
Vacancy
5.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,389,340
Cap Rate 7%
$1,706,671
Cap Rate 9%
$1,327,411
Alternative Uses
Best Use
Retail
$1.71M
$1.49M – $1.99M
NOI $119,467 @ 7.0% cap · market cap 6.90%
Second Best
Industrial
$1.17M
$1.02M – $1.36M
NOI $81,682 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.96M
$2.59M – $3.45M
NOI $206,895 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
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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 NNN properties in Los Angeles County, CA
Properties on Market for NNN properties in Los Angeles County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - The freestanding building operates under an absolute NNN ground lease with scheduled five-year rent increases.
Where is this nnn property located?
The property is located at 38235 47th Street East Palmdale, CA.
What is the asking price?
The asking price for this property is $1,732,500.
What are key features of this property?
This property features: Approximately 7,000‑square‑foot freestanding tire service building; 2.2‑acre parcel within 47th Street Pavilion; Absolute NNN ground lease began in July 2013 with an initial 20‑year term
