14790 La Paz Dr Victorville, CA 92395

Property Details for 14790 La Paz Dr

Property size

25,838 SF

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.