Downtown Twentynine Palms Investment
For Sale
$599,000
6407 Morongo Road, Twentynine Palms, CA 92277
Four units on oversized lot near Joshua Tree National Park.
Property Size1,800 SF
Lot Size1.73 Acres
Price / SF$332.78
Days on Market170
Property Features for 6407 Morongo Road
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
10
Lot size
1.73 Acres
Property subtype
Residential Income
Zoning
Assessor
Net Operating Income
$2,336
Building Details
Year Built
1950
Buildings
1
Units
4
Listing Agency:
Libby's Realty
(760) 285-8100
Listed By:
Reggie McAtee · License #01503436
(760) 285-8100
Source:
Compass
Added: Mar 6
Changed: Aug 23
Last Checked: Aug 22 at 10:35AM
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 Libby's Realty
Investment Insights
Based on property information with market context.
This investment opportunity features four units on an oversized commercial lot of nearly 75,500 square feet in downtown Twentynine Palms. The property has flexible commercial zoning and offers potential for expansion, redevelopment, mixed-use concepts, or a live/work environment. It is located minutes from Joshua Tree National Park, the Marine Corps Air Ground Combat Center Twentynine Palms, and local shops and restaurants. This positioning is intended to attract long-term tenants, military personnel, tourists, or business opportunities. Two of the units have been fully remodeled and feature new appliances, updated flooring, fresh interior paint, and new countertops. The remaining two units are occupied by long-term tenants, providing immediate rental income. The property is suitable as an income-producing property, for redevelopment, or as a commercial/residential opportunity in the High Desert market.
Key Highlights
- Oversized commercial lot (nearly 75,500 sq ft) in downtown Twentynine Palms with flexible commercial zoning.
- Prime location minutes from Joshua Tree National Park and the Marine Corps Air Ground Combat Center.
- Immediate rental income from two long‑term tenant‑occupied units.
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
$18,356
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
3.06%
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%
$367,120
$367.1K
Cap Rate 7%
$262,229
$262.2K
Cap Rate 9%
$203,956
$204.0K
Market Conditions
NOI Build-Up for 1,800 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
$27.9K $15.48/SF
− Vacancy
−$1.6K −$0.91/SF
EGI
$26.2K $14.57/SF
− OpEx
−$7.9K −$4.37/SF
NOI
$18.4K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /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%
$367,120
Cap Rate 7%
$262,229
Cap Rate 9%
$203,956
Alternative Uses
Best Use
Multifamily LT 5
$262.2K
$229.5K – $305.9K
NOI $18,356 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$227.6K
$199.2K – $265.6K
NOI $15,935 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$379.7K
$332.2K – $443.0K
NOI $26,578 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 92277, CA
23,988
Population
13,657
Households
1.8
Avg Household Size
30
Median Age
25%
College-Educated
93%
High-School Grad
1,599.1 sq mi
ZIP Area
15
Density / Sq Mi
$55,515
Median Household Income
$40,928
Median Earnings
$1,267
Median Rent
$224,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four units on oversized lot near Joshua Tree National Park.
Where is this quadplex located?
The property is located at 6407 Morongo Road Twentynine Palms, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Oversized commercial lot (nearly 75,500 sq ft) in downtown Twentynine Palms with flexible commercial zoning.; Prime location minutes from Joshua Tree National Park and the Marine Corps Air Ground Combat Center.; Immediate rental income from two long‑term tenant‑occupied units.
