14598 7th St - Freestanding FOR SALE


Victorville, CA 92395
$7,660,000 USD
951-479-7994
14598 7th St, Victorville, CA for Sale
$7,660,000 USD
Freestanding - FOR SALE
1/8
null | 6.6% Cap Rate

14598 7th St
Victorville, CA 92395


HIGHLIGHTS

  • Anchored by: dd’s Discounts, Department of Veterans Affairs Outpatient Medical Clinic, & Tesla Superchargers
  • In 2025, the VA Outpatient Medical Clinic executed an early 20-year renewal with structured rent increases
  • In 2025, dd’s Discounts exercised a 5-year option renewal with a 10% rent increase, demonstrating continued commitment to the property.
  • The property is adjacent to several nationally top-performing retailers including Costco (top 5% nationwide), AutoZone (top 1%), McDonald’s (top 3%)
  • Including new roofing systems ($485K), parking lot LED lighting and an extensive grind/overlay of the parking lot ($150K)
  • A ±3,750 SF former garden center can be enclosed for a rentable area, and a parking at the rear of the site allows for potential future development

OVERVIEW

Progressive Real Estate Partners & Hanley Investment Group are pleased to present the opportunity to acquire a 100% leased, national-credit anchored retail asset combining secure cash flow, embedded rent growth, and meaningful long-term upside in one of the High Desert’s top-performing retail corridors. The property is anchored by dd’s Discounts (backed by Ross Stores – S&P 500 / Fortune 500), a Department of Veterans Affairs Outpatient Clinic, and a 16-stall Tesla Supercharger station— creating a diversified, e-commerce-resistant income stream. In 2025, both anchors executed renewals, including a 20-year Veterans Affairs renewal with a 15% rent increase in 2031 and a 5-year dd’s Discounts option renewal with a 10% increase in 2032, which together push the blended yield to an attractive 7.40% by 2032. With replaceable rents averaging just $0.86/SF NNN and an appealing $161/SF below-replacement-cost basis, the asset provides exceptional downside protection. Additional upside includes a significant mark-to-market opportunity in 2037 and the ability to enclose ±3,750 SF of former garden center space for future income.

FOR SALE DETAILS

PRICE

$7,660,000 USD

PRICE/SF

$161 USD /SF

CAP RATE

6.6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3-Tenant NNN Retail Investment

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

255

LAND DETAILS

LAND ACRES

5.32 AC

LAND SF

231,739 SF

ZONING

Specific Plan

APN/PARCEL ID

3106-262-19

ASK ABOUT THIS PROPERTY

Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

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Greg Bedell, CCIMProgressive Real Estate PartnersMore Info
951-479-7994

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.