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    1703 Palmdale Blvd Palmdale, CA 93550

    Sponsored
    For Sale
    $2,620,000

    7,600 SF Net Lease, 5.22% Cap Rate

    Property size:
    7,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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.

    Property Features for 1703 Palmdale Blvd

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,600 SF

    HighLights

    • Five‑year corporate lease extension with WSS Shoes (Foot Locker subsidiary).
    • High‑profile outparcel pad at Gateway Center, a Vallarta Grocery‑anchored shopping center.
    • Strong national brand with extensive selection of top footwear brands (Nike, Vans, Adidas).
    • Located in a dense Los Angeles community within the Lancaster/Palmdale MSA.
    • Top‑performing shoe store; iconic American brand with over $9 billion in 2021 sales and a market cap exceeding $3 billion.
    • Established location since 2011 with early renewal; minimal landlord responsibilities; situated along Highway 138.
    Property Profile Location Intelligence

    Current Use by Public Records

    WSS Shoe Store Vans Shoe Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palmdale
    County
    Los Angeles
    State
    California
    Longitude
    -118.0982313
    Latitude
    34.5800528

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    FAQs

    What type of property is this?
    Individual retail property - 7,600 SF Net Lease, 5.22% Cap Rate
    Where is this individual retail property located?
    The property is located at 1703 Palmdale Blvd Palmdale, CA.
    What is the asking price?
    The asking price for this property is $2,620,000.
    What are key features of this property?
    This property features: Five-year corporate lease extension with WSS Shoes (Foot Locker subsidiary).; High-profile outparcel pad at Gateway Center, a Vallarta Grocery-anchored shopping center.; Strong national brand with extensive selection of top footwear brands (Nike, Vans, Adidas).
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1703 Palmdale Blvd Palmdale, CA 93550
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