WEST PALMDALE PLAZA Coldwell Banker Commercial Valley Realty is pleased to present the West Palmdale Plaza located in the city of Palmdale s highly sought after, Trade and Commerce Center! This project is a value add opportunity offering cash flow from existing leases with upside in leasing the vacant units and full development of the property! cbcvalleyrealty.com Harvey Holloway Seffi Toneman BRE #00594721 BRE #01878066 (661)948-2644 ext. 22 (661)948-2644 ext. 10
PROPERTY WEST PALMDALE NAME PLAZA EXECUTIVE SUMMARY 38700 5TH ST. WEST PALMDALE, CA VALUE ADD OPPORTUNITY New, multi-tenant office/retail building with over 11,000sf on 2.61+/- acres! 4,200rsf is currently leased to a National Tenant providing GSI $110,880. The balance of the existing building, 7,200 rsf, is in warm shell condition and divisible into 1,400rsf units. The 2.61+/- acre lot provides ample room for approx. 15,000sf of additional commercial development on the corner portion of this prime Palmdale location! Great upside opportunity in leasing vacancies and building out the undeveloped portion of the project! PRICE: List Price: $2,590,000 CAP Rate (Pro-Forma): 8% Pro-Forma GSI (Pro-Forma): $297,800 Vacancy & Expenses (est.): $89,980 NOI (Pro-Forma): $207,820 BUILDING DETAILS: Property Type: Building Size: SITE: Office/Retail 11,200+/-sf Year Built: 2014 Tenancy: Land: Multiple 2.61+/- Acres APN: 3004-001-036 Zoning: SP PD Brand new Class A Office/Retail Center located in the Palmdale s prestigious Trade and Commerce Center. Prime corner location at the NEC of 5th Street West and West Park Drive, across the street from new Hotels and just blocks from the new Palmdale Regional Medical Center. Development of a Home 2 by Hilton Hotel was recently approved on the adjacent property to the North. This new Hotel will be 4 stories with 93 units and is expected to break ground in the 2nd quarter of 2016! 2
WEST PALMDALE PLAZA PROPERTY NAME PROPERTY PHOTOS 3
WEST PALMDALE PLAZA PROPERTY NAME FLOOR PLANS Beautiful New Class A Office/Retail Vibrant Southwest Color Pallet, Glass Window Fronts Units divisible to 1,400sf 4
PROPERTY WEST PALMDALE NAME PLAZA SITE MAP 5
WEST PALMDALE PLAZA PROPERTY NAME MAPS & AERIALS 6
PROPERTY WEST PALMDALE NAME PLAZA DEMOGRAPHICS 1 mile 3 miles 5 miles Population 2000 Population 9,330 50,568 93,904 2010 Population 10,399 62,093 118,132 2015 Population 11,341 65,435 123,149 2020 Population 12,056 68,353 128,020 2000-2010 Annual Rate 1.09% 2.07% 2.32% 2010-2015 Annual Rate 1.67% 1.00% 0.80% 2015-2020 Annual Rate 1.23% 0.88% 0.78% 2015 Male Population 49.3% 48.9% 48.9% 2015 Female Population 50.7% 51.1% 51.1% 2015 Median Age 29.2 29.4 30.1 In the identified area, the current year population is 123,149. In 2010, the Census count in the area was 118,132. The rate of change since 2010 was 0.80% annually. The five-year projection for the population in the area is 128,020 representing a change of 0.78% annually from 2015 to 2020. Currently, the population is 48.9% male and 51.1% female. Median Age The median age in this area is 29.2, compared to U.S. median age of 37.9. Race and Ethnicity 2015 White Alone 45.5% 46.5% 48.9% 2015 Black Alone 13.3% 14.0% 13.7% 2015 American Indian/Alaska Native Alone 0.9% 0.8% 0.9% 2015 Asian Alone 4.6% 5.0% 4.6% 2015 Pacific Islander Alone 0.1% 0.2% 0.2% 2015 Other Race 29.5% 27.3% 25.9% 2015 Two or More Races 6.0% 6.1% 5.7% 2015 Hispanic Origin (Any Race) 59.0% 56.0% 55.1% Persons of Hispanic origin represent 55.1% of the population in the identified area compared to 17.6% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 86.8 in the identified area, compared to 63.0 for the U.S. as a whole. Households 2000 Households 2,799 15,360 28,154 2010 Households 3,126 18,227 34,126 2015 Total Households 3,412 19,036 35,243 2020 Total Households 3,637 19,835 36,522 2000-2010 Annual Rate 1.11% 1.73% 1.94% 2010-2015 Annual Rate 1.68% 0.83% 0.62% 2015-2020 Annual Rate 1.29% 0.83% 0.72% 2015 Average Household Size 3.31 3.43 3.49 The household count in this area has changed from 34,126 in 2010 to 35,243 in the current year, a change of 0.62% annually. The five-year projection of households is 36,522, a change of 0.72% annually from the current year total. Average household size is currently 3.49, compared to 3.46 in the year 2010. The number of families in the current year is 28,464 in the specified area. 7 Executive Summary West Palmdale Plaza Prepared by Esri 38700 5th St W, Palmdale, California, 93551 Latitude: 34.58493 Rings: 1, 3, 5 mile radii Longitude: -118.13855
PROPERTY WEST PALMDALE NAME PLAZA CONTACT INFORMATION For more information, please contact: Harvey Holloway COLDWELL BANKER COMMERCIAL 42402 10th Street West, Suite E Lancaster, CA 93534 Phone: (661)948-2644 ext. 22 Fax: (661) 945-2524 Mobile: (661) 609-8173 BRE #00594721 Harvey@cbcvalleyrealty.com Seffi Toneman, MBA COLDWELL BANKER COMMERCIAL 42402 10th Street West, Suite E Lancaster, CA 93534 Phone: (661)948-2644 ext. 10 Fax: (661) 945-2524 Mobile: (661) 609-0860 BRE #01878066 Seffi@cbcvalleyrealty.com 8 2015 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.