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Smart & Final | Target & Lowe's Anchor 39228 10th St W 58,652 sq ft 100% Let Retail Property Palmdale, CA 93551 £10,661,040 (£181.77/sq ft) 7% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 100% Occupied | NNN Leases | Recent 10-Year Renewal (Barnes & Noble) |Well-Known and Established Tenants
- Palmdale Regional Medical Center | Amazon Distribution Center | Major Aerospace Facilities
- Steady, Consistent Consumer Base | Hotel Cluster | Strong Demographics in 5-Mile Trade Area | Fast-Growing City
- Signalized, Hard-Corner Intersection | Quick Access to State Highway 139 & 14 (89,000 VPD) | Excellent Visibility & Access
- Palmdale Marketplace | Immense Retail Corridor
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, two-tenant, Smart & Final and Barnes & Noble investment opportunity located in Palmdale, California. The tenants have 9.7 years of weighted term remaining and operate under corporate signed, NNN leases. Barnes & Noble recently signed a 10-year lease extension with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease also features $1.00 PSF rental increases every 5 years throughout the term and option periods, increasing NOI and hedging against inflation. Smart & Final is an established, California-based grocery store chain with over 250 locations. Barnes & Noble is the largest retail bookstore chain in the United States with more than 630 stores. Smart & Final reports exceptional store sales - contact agent for details.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Property Size
58,652 sq ft
Costar Property Class
B
Year Built
1999
Price
£10,661,040
Price per sq ft
£181.77
Yield
7%
NOI
£746,689
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.33
Total Plot Size
4.10 ac
Use Class
SP - Specific Plan
Parking
193 Spaces (3.29 Spaces per 1,000 sq ft Leased)
Frontage
2,642 ft on 10th St W
AMENITIES
- Corner Lot
- Dedicated Turn Lane
- Food Court
- Freeway Visibility
- Pylon Sign
- Signalised Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE TYPE
- LEASE END
- Barnes & Noble
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
With a history that spans more than 152 years, Smart & Final offers customers fresh produce, quality meats and groceries as well as more than 3,000 club-sized items to fit every budget and need. They are the smaller, faster grocery warehouse store – without the membership fee.
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE TYPE | LEASE END | |
| Barnes & Noble | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 3003-085-022 | Improvements Assessment | £8,303,962 |
| Land Assessment | £2,544,506 | Total Assessment | £10,848,468 |
PROPERTY TAXES
Parcel Number
3003-085-022
Land Assessment
£2,544,506
Improvements Assessment
£8,303,962
Total Assessment
£10,848,468
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Smart & Final | Target & Lowe's Anchor | 39228 10th St W
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