Smart & Final / Barnes & Noble
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Smart & Final / Barnes & Noble
2 Retail Properties Offered at $14,195,000 in Palmdale, CA
Investment Highlights
- Two-Tenant Investment – Two-tenant asset, providing a secure income stream for an investor with national tenancy on long-term leases.
- High-Traffic Barnes & Noble Location – Per Placer.ai, Barnes & Noble received approximately 354,000 visitors over the trailing 12-month period.
- Best-in-Class Non-Inclusive Anchor Tenancy – Palmdale Marketplace features a complimentary mix of anchor tenancy.
- Grocery-Anchored Asset – The subject property features a high-performing Smart & Final grocer; generating a consistent consumer draw.
- Category-Dominant Target and Lowe’s Shadow Anchors.
- Recent Lease Extensions – Smart & Final executed a 12-year extension in 2022 and Barnes & Noble executed a 10-year extension in 2024.
Executive Summary
Smart & Final/Barnes & Noble is an institutional quality two-tenant investment opportunity located in the growing suburban Los Angeles community of Palmdale, CA. Encompassing approximately 58,652 sq. ft. of retail space, the subject property is a portion of Palmdale Marketplace; one of the area’s premier community centers that features additional (NAP) national anchor tenants Target, Lowe’s, Sprouts, Ross, TJ Maxx/HomeGoods, ULTA, and Five Below. Anchored by a high performing Smart & Final grocer, the subject property boasts a 100% national tenant base.
The property is situated along 10th St. W.; the primary regional retail corridor within the city of Palmdale that features over 1.5 million square feet of existing retail space. Both Smart & Final and Barnes & Noble feature long-term leases in place having approximately 10.5 years of lease term remaining; providing a secured long-term income stream to an investor.
The property is situated along 10th St. W.; the primary regional retail corridor within the city of Palmdale that features over 1.5 million square feet of existing retail space. Both Smart & Final and Barnes & Noble feature long-term leases in place having approximately 10.5 years of lease term remaining; providing a secured long-term income stream to an investor.
Taxes & Operating Expenses (Actual - 2025) |
Annual |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$1,028,523
|
Taxes & Operating Expenses (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $1,028,523 |
Property Facts
| Price | $14,195,000 | Number of Properties | 2 |
| Price / SF | $242.02 / SF | Individually For Sale | 0 |
| Cap Rate | 7.25% | Total Building Size | 58,652 SF |
| Sale Type | Investment | Total Land Area | 8.65 AC |
| Status | Active |
| Price | $14,195,000 |
| Price / SF | $242.02 / SF |
| Cap Rate | 7.25% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 58,652 SF |
| Total Land Area | 8.65 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Barnes & Noble
39228 10th St W, Palmdale, CA 93551 |
Retail | 24,652 SF | 1999 | - |
| 39212 10th St W, Palmdale, CA 93551 | Retail | 34,000 SF | 1999 | - |
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Smart & Final / Barnes & Noble
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