SHOPS TO SUPERIOR GROCERS CENTER

Investment Overview

Marcus & Millichap is pleased to present an exceptional add-value opportunity on the prime real estate corner of Victorville’s Seventh Street at La Paz Drive. This grocery-anchored offering with two retail strip centers is adjacent to a recently opened Superior Grocers (experiencing tremendous visitation counts) and formerly a 99 Cents Only Stores space that boasted a ranking of a Top 10% Store in the Nation according to CreditIntel in March 2023. The almost entirely renovated shopping center is also joined by a newly constructed Harbor Freight/Cali Beauty Supply and Western Dental and a strong performing Jack in the Box.
Ownership has cultivated a harmonious tenant mix of long-standing retail tenants. All tenants, with the exception of the coin operated laundry, are on short term or month-to-month leases. This opportunity presents a potential developer or investor with options to utilize the existing buildings and improve the rent roll substantially, to consider renovations or a full re-positioning by adding single tenant outparcel building(s) as appropriate.
The premises, comprising a total of 14,987 square feet and heavily demisable, were built in 1972 and 1974 and are situated upon two separate parcels representing a total of 1.55 acres, split between a .53 acre and a .99 acre parcel. A shared access parking lot allows for a variety of uses within ample parking providing potential opportunity for additional structures to be built.
Recent improvements to the building and parking lot were made during the construction of the Superior Grocers store, including the addition of an ADA accessible ramp and attractive landscaping. This is in addition to overall parking lot improvements completed by the 99 Cents Only store, a chain that recently closed all of its stores nationally, including at the subject shopping center.
The shops are located within the larger Superior Grocers Center, which is a 111,206 square foot shopping center situated upon 9.32 acres of land with a total of 494 parking spaces. Located just off Interstate 15 at La Paz Drive, the Shops are within one of the dominant retail corridors of Victor Valley and are surrounded by other bustling shopping centers including national retailers such as Costco, Food 4 Less, and dd’s Discounts, the Victorville Swap Meet located directly behind the Subject, and the Auto Park at Valley Center.

SHOPS TO SUPERIOR GROCERS

14660 & 14672 SEVENTH STREET VICTORVILLE, CA 92395

Property Details

Offering Price:

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Call for Offers May 30th!

+/- 14,897 Sq Ft

100%

1.53 Acres

1972/1974

Highlights

New Grocery-Anchor Presence Provides Multiple Opportunities for Value Enhancement Including Improving the Rent Roll with Mark-to-Market Rents or by Repositioning the Asset, a Re-Imagination that Might Include the Addition of Outparcel Building(s)
Located Within an Opportunity Zone
Average NNN Retail Market Rent for Peer Properties is $20.17 per Square Foot
Situated at the Signalized Corner of La Paz Drive and 7th Street Featuring Over 54,387 Vehicles Per Day
Victorville is Centrally Located Within the Inland Empire MSA - Population Exceeds 4.7 Million Residents
Dominant and Thriving Victorville Retail Corridor
Anchored by Newly Opened Superior Grocers Formerly 99 Cents Only Stores, Along with Other Traffic Drivers Such as Harbor Freight and Jack in the Box
An Abundance of Recent Improvements to the Shopping Center Will Enable a New Landlord to Attract National Tenants as Desired
Future Brightline West Passenger Rail System Features Two Stations Adjacent to Victorville (Victor Valley and Hesperia Stations)