Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 1870 E. Palmdale Boulevard, a 7-Eleven anchored strip center located on the SW signalized corner of E. Palmdale Boulevard and 20th Street E in Palmdale, CA. The center sits east of the interstate 14 freeway in a main retail corridor of Palmdale. All four signalized corners of E. Palmdale Boulevard and 20th Street E are home to major national retailers, including Vallarta Supermarkets, Shell Gas, Chase Bank, Warehouse Shoe Supply, U.S. Bank, Boost Mobile, Carl’s JR., 99 Cents Only, Goodwill, Burger King and the United States Postal Service. The subject property sits just north of Palmdale High School, and there is dense residential surrounding the center. 1870 E. Palmdale Boulevard is a 9,624 square foot strip center ideally situated on 33,541 square feet of land. Forty percent of the center is anchored by national tenants, 7-Eleven and Yum Yum Donuts. The seasoned tenant mix ideally caters to the surrounding tenants, and the well stabilized tenant roster has solid term remaining on the current leases with options. The average unit size is 1,193 square feet, and the spaces are ideal in their visibility and bay depth, all which eliminates downside risk and minimizes tenant improvement costs between tenants. This solid Palmdale location experiences high daily traffic counts with over 22,000 vehicles passing through the intersection per day. The immediate area has experienced population growth over the past years, and is projecting a 3.7% population growth over the next five years. There are over 160,000 people within a five mile radius, and a median household income of $55,000.