Freestanding Drug Store
For Sale
$2,800,000
72253 29 Palms Hwy, Twentynine Palms, CA 92277
Standalone retail building with substantial on-site parking along the primary route connecting Yucca Valley and Twentynine Palms.
Property Size17,369 SF
Lot Size1.87 Acres
Days on Market176
Property Features for 72253 29 Palms Hwy
General Information
Standard status
Active
Size
17,369 SF
Total Parking Spaces
82
Lot size
1.87 Acres
Property subtype
Retail
Additional Details
Traffic Count
15,421 vehicles/day
Building Details
Building Size
17,369 SF
Buildings
1
Listing Agency:
Newmark
(213) 596-2281
Listed By:
Steve Bernier · License #CA RE Lic. #02241836
Source:
Nmrk
Added: Mar 7
Changed: Aug 30
Last Checked: Aug 30 at 2:44AM
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 Newmark
Investment Insights
Based on property information with market context.
This freestanding drug store property occupies 1.87 acres and includes 82 parking stalls, with room identified for additional parking. The building is positioned along 29 Palms Hwy at 72253 29 Palms Hwy in Twentynine Palms, providing a standalone retail format for commercial occupancy.
The property fronts the principal thoroughfare connecting Yucca Valley and Twentynine Palms, which carries daily traffic of 15,421 vehicles. The surrounding population exceeds 53,000 and includes both military and civilian residents associated with the nearby Marine Corps Air Ground Combat Center.
The property fronts the principal thoroughfare connecting Yucca Valley and Twentynine Palms, which carries daily traffic of 15,421 vehicles. The surrounding population exceeds 53,000 and includes both military and civilian residents associated with the nearby Marine Corps Air Ground Combat Center.
Key Highlights
- Freestanding drug store property on 1.87 acres
- 82 parking stalls with potential for additional parking
- Daily traffic of 15,421 vehicles
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
$248,963
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
8.89%
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%
$4,979,260
$5.0M
Cap Rate 7%
$3,556,614
$3.6M
Cap Rate 9%
$2,766,256
$2.8M
Market Conditions
NOI Build-Up for 17,369 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
$375.2K $21.60/SF
− Vacancy
−$19.5K −$1.12/SF
EGI
$355.7K $20.48/SF
− OpEx
−$106.7K −$6.14/SF
NOI
$249.0K $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%
$4,979,260
Cap Rate 7%
$3,556,614
Cap Rate 9%
$2,766,256
Alternative Uses
Best Use
Retail
$3.56M
$3.11M – $4.15M
NOI $248,963 @ 7.0% cap · market cap 8.89%
Second Best
Specialty Retail
$2.41M
$2.11M – $2.81M
NOI $168,444 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$3.66M
$3.21M – $4.27M
NOI $256,461 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15,421 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Well-served
Demand for This Use
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- REP TO GAIN NUTRITION — 71747 29 Palms Hwy suite k, Twentynine Palms, CA 92277
- Malou Solomon — 72253 29 Palms Hwy, Twentynine Palms, CA 922772467
- Dianne Kristine Banawa — 72253 29 Palms Hwy, Twentynine Palms, CA 92277
- Minkyung Kim — 72253 29 Palms Hwy, Twentynine Palms, CA 922775911
- Rite Aid Pharmacy — 72253 29 Palms Hwy, Twentynine Palms, CA 92277
Frequently Asked Questions
What type of property is this?
Drug store - Standalone retail building with substantial on-site parking along the primary route connecting Yucca Valley and Twentynine Palms.
Where is this drug store located?
The property is located at 72253 29 Palms Hwy Twentynine Palms, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Freestanding drug store property on 1.87 acres; 82 parking stalls with potential for additional parking; Daily traffic of 15,421 vehicles
