39212 10th W St, Palmdale, CA 93551-3753

This exceptional investment opportunity presents a 58,652 square foot retail property in Palmdale, California, currently 100% occupied by a Smart & Final grocery store and a Barnes & Noble bookstore. The property, part of the Palmdale Marketplace, boasts a strong 7.25% cap rate and a substantial net operating income (NOI) of $1,028,523. Both tenants enjoy long-term leases; Smart & Final recently extended their lease for 12 years (2022), and Barnes & Noble for 10 years (2024). The Barnes & Noble location is a top performer, ranking first within a 30-mile radius and in the 83rd percentile company-wide in customer visits. The property benefits from its strategic location adjacent to Highway 14 and 10th Street West, a major retail corridor with high daily traffic counts. The surrounding area features a robust population and strong average household incomes, further enhancing the property's value. The center also benefits from the presence of other national anchor tenants, including Target and Lowe's, creating a synergistic retail environment. Built in 2000, this 4.09-acre property offers a secure and profitable investment opportunity with a proven track record of success. The asking price is $14,195,000, translating to $242.02 per square foot. The property's APN is 3003-085-022.