450 Palmdale Blvd Palmdale, CA 93551

Property Details for 450 Palmdale Blvd

Year built

2000

Construction

TILT-UP CONCRETE

Lot size

3.85 lot acres

Property size

8,720 SF

Zone code

PDC3*

Property type

Community centers

APN

3009-006-056

APU

3009006056

Description

This exceptional investment opportunity presents the Challenger Business Park, a mixed-use property ideally situated at 450 W Palmdale Blvd, Palmdale, CA 93551. Comprising two single-story buildings totaling 25,306 square feet on a 2.2-acre lot, this property boasts a strong tenant roster of seven businesses, achieving an 87.5% occupancy rate. The property features 24,665 net rentable square feet, currently generating a Net Operating Income (NOI) of $480,351, with a projected pro-forma NOI of $540,351, resulting in a 5.22% cap rate and a pro-forma cap rate of 5.87%. The asking price is $9,200,000, translating to a price per square foot of $363.55. Built in 2009, the property is zoned PDCPD and benefits from a ground lease expiring March 31, 2061. This Net Lease (NNN) investment is structured as a multi-tenant operation, offering a compelling opportunity for 1031 exchange buyers. Its strategic location in Palmdale provides easy access to major highways, public transportation, and key business and hospital districts, including proximity to Palmdale Regional Hospital. The property's high visibility ensures strong foot traffic and excellent exposure. The property is owned by an LLC. This is a rare opportunity to acquire a well-positioned, income-producing asset with long-term tenants in a thriving California market.

Location Insight

City

Palmdale

County

Los Angeles

State

California

Longitude

-118.122

Latitude

34.5788

CBSA code

31080

CBSA name

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

Property Tax & Assessments