Two-Tenant Office
38420 5th Street West, Palmdale, CA 93551
For Sale
New
$2,682,000
C-3-zoned professional offices provide on-site parking near a medical and professional corridor in West Palmdale.
Property Size6,250 SF
Lot Size0.62 Acres
Price / SF$429.12
Days on Market4
Property Features for 38420 5th Street West
General Information
Standard status
Size
Class
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Office Units
Tenant in Place
Property Use
Building Details
Building Size
Year Built
Buildings
Units
Tenancy
Parking Ratio
Listing Agency:
KW Commercial L.A. Westside
Listed By:
David Yashar · License #01102638
(310) 724-8043
Source:
Realnex
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:32PM
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 KW Commercial L.A. Westside
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 6,250 SF office property contains two tenant spaces on a 27,049 SF parcel and was built in 2008. Social Vocational Services occupies space in the building under an NNN lease; the organization renewed its original 20-year lease ahead of schedule. The property has approximately 52 parking spaces, or about 8.3 spaces per 1,000 SF, and carries a C-3 zoning designation. The Professional Building land-use designation supports office services such as legal, insurance, real estate and business operations.
At 38420 5th Street West in Palmdale, the property is near Palmdale Regional Medical Center and other medical offices. Palmdale Boulevard and the SR-14/SR-138 interchange provide access to Palmdale, Lancaster and the broader Antelope Valley. Nearby uses include residential, medical, professional, retail, restaurant and hospitality businesses, with several hotels along 5th Street West.
At 38420 5th Street West in Palmdale, the property is near Palmdale Regional Medical Center and other medical offices. Palmdale Boulevard and the SR-14/SR-138 interchange provide access to Palmdale, Lancaster and the broader Antelope Valley. Nearby uses include residential, medical, professional, retail, restaurant and hospitality businesses, with several hotels along 5th Street West.
Key Highlights
- 6,250 SF two‑tenant office property on a 27,049 SF parcel
- NNN tenant Social Vocational Services renewed its original 20‑year lease early
- Approximately 52 on‑site parking spaces; about 8.3 spaces per 1,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,135
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,702,700
$2.7M
Cap Rate 7%
$1,930,500
$1.9M
Cap Rate 9%
$1,501,500
$1.5M
Market Conditions
NOI Build-Up for 6,250 SF
Gross rent
$214.5K $34.32/SF
− Vacancy
−$34.3K −$5.49/SF
EGI
$180.2K $28.83/SF
− OpEx
−$45.0K −$7.21/SF
NOI
$135.1K $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%
$2,702,700
Cap Rate 7%
$1,930,500
Cap Rate 9%
$1,501,500
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.25M
NOI $135,135 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,728 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
Explore this area
Business Placement
Demographics for 93551, CA
56,001
Population
17,940
Households
3.1
Avg Household Size
38
Median Age
30%
College-Educated
87%
High-School Grad
84.8 sq mi
ZIP Area
660
Density / Sq Mi
$110,850
Median Household Income
$55,882
Median Earnings
$2,263
Median Rent
$548,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Los Angeles County, CA
Properties on Market for Office buildings in Los Angeles County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - C-3-zoned professional offices provide on-site parking near a medical and professional corridor in West Palmdale.
Where is this office building located?
The property is located at 38420 5th Street West Palmdale, CA.
What is the asking price?
The asking price for this property is $2,682,000.
What are key features of this property?
This property features: 6,250 SF two‑tenant office property on a 27,049 SF parcel; NNN tenant Social Vocational Services renewed its original 20‑year lease early; Approximately 52 on‑site parking spaces; about 8.3 spaces per 1,000 SF
