Current Use by Public Records
- Lifestyle centers
Property Details for 0 Atstar St
- Year built
- 1990
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 24,780 square foot shopping center in Victorville, CA, presents a compelling value-add investment opportunity. Located at 14464 Atstar St, this single-story, Class C property boasts 10 tenants across a multi-tenant configuration, currently operating at 40% occupancy. Built in 1990, the center sits on an 81,892 square foot lot, offering significant potential for redevelopment or repositioning. The asking price is $2,400,000, translating to $96.85 per square foot. The current Net Operating Income (NOI) is $160,000, yielding a 6.67% capitalization rate. However, a pro-forma analysis projects a significantly higher NOI of $288,264 and a 12.01% capitalization rate, reflecting the substantial upside potential inherent in increasing occupancy and lease rates. The land value alone is $29.30 per square foot. This property is ideally suited for an owner-operator seeking to enhance profitability through lease management and potential renovations. The property's location offers high visibility and traffic, further enhancing its investment appeal. The modified lease structure provides flexibility for future tenant negotiations. The absence of a tenant credit rating presents a unique opportunity for strategic lease structuring. This property offers a rare chance to acquire a well-located retail center with significant upside potential at a competitive price per square foot.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Victorville
- County
- San Bernardino
- State
- California
- Longitude
- -117.319
- Latitude
- 34.5132
