14426 Palmdale Rd Victorville, CA 92392

Property Details for 14426 Palmdale Rd

Year built

2010

Lot size

1.61 lot acres

Property size

13,014 SF

Property type

Drug stores

Description

This exceptional investment opportunity presents a 13,014 square foot CVS Pharmacy in Victorville, CA, situated on a 1.61-acre lot. The property boasts a Class A, single-tenant, absolute NNN lease with CVS Pharmacy, a credit-rated tenant with a corporate guarantee. The lease commenced February 25, 2011, and has a remaining term of approximately 12.2 years, extending to January 31, 2037, with ten 5-year renewal options. The property features a strong 5.50% cap rate and a pro-forma NOI of $516,721. Built in 2010, this single-story building enjoys a prime location at a signalized intersection with over 43,700 vehicles passing daily, near major medical facilities and retail centers. The location benefits from a dense population base, with over 89,000 residents within three miles and 176,000 within five miles. The asking price is $9,394,927, representing a price per square foot of $721.91. This fee-simple ownership offers a stable, long-term investment opportunity suitable for a 1031 exchange. The property's exceptional location, strong tenant, and long-term lease provide a compelling investment proposition. The property is 100% occupied since its opening on February 25, 2011.

Location Insight

City

Victorville

County

San Bernardino

State

California

Longitude

-117.3474381

Latitude

34.5073789