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    71722 29 Palms Hwy Twentynine Palms, CA 92277

    For Sale
    $6,400,000

    High-yield, 15-year net lease in CA

    Property size:
    16,000 SF

    Description

    Added:
    Jan 24, 2025
    Days on Market:
    325
    This exceptional investment opportunity presents a 16,000 square foot Grocery Outlet, strategically located on 29 Palms Highway in Twentynine Palms, California. The property boasts a 15.1-year net lease (NN+) with a corporate guarantee from a nationally recognized tenant, ensuring consistent cash flow and minimal landlord responsibilities. The lease commenced December 15, 2022, and expires December 31, 2037, featuring built-in rent bumps every five years. The asking price is $6,400,000, representing a compelling 5.50% cap rate with a current net operating income (NOI) of $352,000. Built in 2022, this single-tenant property sits on a 5.38-acre lot, providing ample parking and convenient access for customers. Its high-visibility location benefits from significant traffic volume, drawing from a robust local population, tourism related to nearby Joshua Tree National Park, and the substantial presence of the Marine Corps Air Ground Combat Center (MCAGCC). The property's design and location are well-suited to meet the growing demand for grocery and essential goods in this area, further enhanced by ongoing residential expansion and a reported $150 million retail gap in the market. This is a strong, stable investment with built-in growth potential. The property is offered as a 1031 exchange opportunity.

    Property Features for 71722 29 Palms Hwy

    General Information

    Property type
    Individual retail properties
    Square Feet
    16,000 SF
    Lot Size
    234,353 SF

    Building Details

    Year Built
    2022

    HighLights

    • $6,400,000 asking price for a 16,000 SF retail property.
    • Net lease with a corporate guarantee from Grocery Outlet.
    • 15.1‑year lease term commencing December 15, 2022, with a 5.50% cap rate and $352,000 NOI.
    • Located on 5.38 acres at 71722 29 Palms Hwy, Twentynine Palms, CA 92277, near MCAGCC and Joshua Tree National Park.
    • High‑visibility location on 29 Palms Highway with ample parking.
    • Lease includes 10% rent escalations every five years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Twentynine Palms
    County
    San Bernardino
    State
    California
    Longitude
    -116.09819846916
    Latitude
    34.135816900313

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, 15-year net lease in CA
    Where is this individual retail property located?
    The property is located at 71722 29 Palms Hwy Twentynine Palms, CA.
    What is the asking price?
    The asking price for this property is $6,400,000.
    What are key features of this property?
    This property features: $6,400,000 asking price for a 16,000 SF retail property.; Net lease with a corporate guarantee from Grocery Outlet.; 15.1-year lease term commencing December 15, 2022, with a 5.50% cap rate and $352,000 NOI.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    71722 29 Palms Hwy Twentynine Palms, CA 92277
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