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Views: 28 DOM: 7 Updated: 11.01.24 Posted: 11.01.24 Status: Active

Summary

Price $4,048,000
Built/Renov 2021
Tenant WSS
Cap Rate 6.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 9,200
Lease Start 03-25-2025
#Units 141
Price/SF $440.00
Expiration 03-24-2035
Tenant Type General Retail
NOI $253,000
R. Term 10.4
Ownership Fee Simple
Rent/SF $27.50
Increases 10.0%/5/yrs
Pop 5Mi 127,168
Lot/AC 0.52
Options 4/5yrs/10%
AHHI 5Mi $88,944

Lease Highlights

  • Estimated opening Q1 2025
  • Tenant completing over $320k in improvements
  • Brand new 10-year lease with 4 (5-year) renewal options
  • 10% rental increases every 5 years
  • NN lease | Landlord responsible for roof, structure & HVAC repair & replacement for first 9 months
  • Corporate guaranteed lease

Location Description

WSS is strategically located on 10th Street West, with access to 32,000 vehicles passing by daily. This property is part of the dominant Palmdale Marketplace, a bustling community center attracting approximately 6.3 million visits per year, according to Placer.ai. Situated directly across from a Target-anchored shopping center with a mix of national and local retailers, the site has convenient...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

WSS Shoes, formerly Warehouse Shoe Sales, is a leading southern California retailer that offers a wide variety of footwear, clothing, and accessories from all major brands. WSS carries over...


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Listing Broker

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