Listed by Hanley Investment Group
$4,890,000
Shops to Target | Lancaster, CA
Details
Property Type Retail
Sub Type Storefront
Square Footage 9,132
Net Rentable (SqFt) 9,132
Cap Rate 6.75%
NOI $330,385
Occupancy 100%
Tenancy Multi
Lease Type NNN
Year Built 1992
Year Renovated 2021
Acreage 0.700
Ground Lease No
100% Occupied Long Tenured Tenants | Shadow-Anchored by Target | 55,572 CPD Intersection Commerce
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/ShopstoTarget
Investment highlights
- Shadow-Anchored by Target (NYSE: TGT): The property is positioned directly within the Lancaster Commerce Center, creating consistent cross-shop traffic and a fortress co-tenancy environment for the subject in-line shop tenants
- The Lancaster Target has operated at this location for over two decades and represents the only Target location in the city of Lancaster, reinforcing its market dominance and irreplaceable nature
- Surrounding power center co-tenants include Burlington, Crunch Fitness, Big 5 Sporting Goods, 24 Hour Fitness, Lowe’s, WinCo Foods and more
- 100% Occupied — Stable, Long-Tenured Tenant Mix With Contractual Rent Growth: The property is fully leased to 5 tenants on NNN leases, providing a stabilized, management-light income stream with all tenants contributing built-in annual rental escalations
- Primary Tenant, Safelite Auto (±3,927 SF): National investment-grade credit tenant in occupancy since June 1995 (30+ years of operating history at the property), with a lease running through June 2031
- Strategic Freeway-Adjacent Positioning: The property benefits from immediate access to State Route 14 (Antelope Valley Freeway), the primary north-south arterial connecting Lancaster, Palmdale, and the Greater Los Angeles MSA
- West Avenue K at 10th Street West intersection — one of the busiest intersections in the City of Lancaster — carries 55,572 VPD
- Strong Trade Area Demographics: The Property is supported by a deep, growing consumer base with significant purchasing power
- Approximately 147,000 residents within a 10-minute drive time and 267,000 residents within a 15-minute drive time
- Average household income of approximately $77,000 within 10 minutes and $83,000 within 15 minutes
- Daytime population of approximately 148,000 within 10 minutes — driven by employment in aerospace, healthcare, education, and logistics
Listing Contacts
Listed by Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$330,385.00
$27,532.08/mo
Valuation Metrics
0
DSCR
6.76%
Cap Rate
6.76%
ROI
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