Current Use by Public Records
- Big Lots / Discount Store
Property Details for 14790 La Paz Dr
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This fee-simple retail property in Victorville, CA, presents a compelling investment opportunity. The 25,838 square foot building sits on a 94,968 square foot lot and is 100% occupied by a Big Lots store under a 20-year absolute NNN lease with a corporate guarantee. The lease features a 2% annual rent increase, ensuring consistent income growth. The property boasts a strong NOI of $282,868 and a 6.25% cap rate, with an asking price of $4,525,896 ($175.16/sq ft). Located at 14790 La Paz Dr, Victorville, CA 92395, the property benefits from excellent visibility and access within a thriving retail corridor. The surrounding area demonstrates strong demographics, with an average population exceeding 144,000 within three miles and average household incomes nearing $86,100. The property is offered as a 1031 exchange opportunity and is free and clear of financing, allowing investors to leverage favorable debt markets. The large lot size presents potential for future value-add opportunities, such as pad development, subject to tenant approval. This offering provides a strong intrinsic value, potentially below replacement cost, and offers long-term residual value.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Victorville
- County
- San Bernardino
- State
- California
- Longitude
- -117.315
- Latitude
- 34.5202
