39202 10Th StPalmdale, CA 93551

Property Details for 39202 10Th St

Year built

2001

Construction

WOOD

Lot size

0.52 AC

Property size (Sq ft)

9,296 SF

Zone code

PDMPD*

Property type

Retail properties

Property subtype

Community centers

APN

3003-085-019

APU

3003085019

Description

This exceptional investment opportunity presents a single-tenant, net-leased retail property occupied by WSS within the thriving Palmdale Marketplace shopping center. The property boasts a brand-new 10-year lease commencing March 25, 2025, and expiring March 24, 2035, with four 5-year renewal options, each including a 10% rent increase. The 9,200 square foot building, constructed in 2021, sits on a 0.52-acre lot and enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $253,000, representing a 6.25% cap rate. The asking price is $4,048,000, translating to $440 per square foot and $178.71 per square foot of land value. The property benefits from its strategic location on 10th Street West, a high-traffic thoroughfare with 32,000 vehicles per day, providing excellent visibility within the center. Palmdale Marketplace itself draws 6.3 million visitors annually. The surrounding area features a dense residential population (127,100+ within a 5-mile radius) and high average household income ($104,600+ within a 1-mile radius), further enhancing the investment's appeal. The tenant, WSS, is undertaking over $320,000 in improvements, with an estimated opening in the first quarter of 2025. The property's proximity to Antelope Valley Freeway (85,000 VPD) and Palmdale Regional Medical Center adds to its strategic advantages. This is a rare opportunity to acquire a stable, high-performing retail investment in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $4,350,320

  6.5%

  $4,015,680

  7%

  $3,728,846

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,454,673

  Geo Method

  $4,454,673

• Alternative Use

  Use

  Valuation

  Residential

  $3,387,376

  Hospitality

  $3,102,818

  Educational

  $2,581,508

  Medical

  $2,670,290

  Retail

  $4,015,680

Location Insight

City

Palmdale

County

Los Angeles

State

California

Latitude

34.5958

Longitude

-118.147

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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