Lucerne Valley Commercial Property For
For Sale
$399,000
31717 hwy 18, Lucerne Valley, CA 92356
1.03-acre commercial property with offices, storage, and development potential.
Property Size1,152 SF
Lot Size1.03 Acres
Days on Market267
Property Features for 31717 hwy 18
General Information
Standard status
Active
Size
1,152 SF
Lot size
1.03 Acres
Property subtype
Commercial
Building Details
Building Size
1,152 SF
Year Built
1981
Listing Agency:
(626) 622-7519
Listed By:
Jinbai Li · License #01851593
(626) 622-7519
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 20
Last Checked: Aug 21 at 10:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jinbai Li
Investment Insights
Based on property information with market context.
This 1.03-acre property is currently licensed as a car lot and offers opportunities for various businesses. The fully fenced land includes rolling gates, two offices, two large storage rooms, a metal garage with a rollup door, and covered storage. The back portion of the property could be used to build a home. The property's value may appreciate with upcoming local growth.
Key Highlights
- 1.03 acres of fully fenced land.
- Licensed for business with potential to build a home on the back portion.
- Includes two offices and two large storage rooms.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,512
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$330,240
$330.2K
Cap Rate 7%
$235,886
$235.9K
Cap Rate 9%
$183,467
$183.5K
Market Conditions
NOI Build-Up for 1,152 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.9K $21.60/SF
− Vacancy
−$1.3K −$1.12/SF
EGI
$23.6K $20.48/SF
− OpEx
−$7.1K −$6.14/SF
NOI
$16.5K $14.33/SF
Area
San Bernardino County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$330,240
Cap Rate 7%
$235,886
Cap Rate 9%
$183,467
Alternative Uses
Best Use
Retail
$235.9K
$206.4K – $275.2K
NOI $16,512 @ 7.0% cap · market cap 4.14%
Second Best
Specialty Retail
$159.6K
$139.7K – $186.2K
NOI $11,172 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$243.0K
$212.6K – $283.5K
NOI $17,010 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 92356, CA
6,050
Population
3,053
Households
2
Avg Household Size
45
Median Age
15%
College-Educated
77%
High-School Grad
365.6 sq mi
ZIP Area
17
Density / Sq Mi
$46,625
Median Household Income
$33,144
Median Earnings
$1,138
Median Rent
$239,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - 1.03-acre commercial property with offices, storage, and development potential.
Where is this car wash located?
The property is located at 31717 hwy 18 Lucerne Valley, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1.03 acres of fully fenced land.; Licensed for business with potential to build a home on the back portion.; Includes two offices and two large storage rooms.
