57590 29 Palms Hwy Yucca Valley, CA 92284

Property Details for 57590 29 Palms Hwy

Lot size

3.03 lot acres

Property size

40,000 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 40,000 square foot Vons grocery store in Yucca Valley, CA, situated on 3.03 acres. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $306,053. The Vons store, established in 1981, benefits from a triple-net (NNN) lease with a remaining term of approximately 6.3 years, plus option periods, and includes percentage rent. This single-tenant property is an anchor in the Joshua Village Shopping Center, a key retail hub in a high-traffic area, serving a large metropolitan statistical area and the nearby 29 Palms Marine Corps Air Ground Combat Center. The location benefits from significant year-round tourism due to its proximity to Joshua Tree National Park. The property's strong tenant, a major national food and drug retailer, provides a robust corporate guaranty. With below-market rents and a history of sales exceeding $690 per square foot, this investment offers exceptional intrinsic value and a stable income stream. The asking price is $4,370,000, translating to $109.25 per square foot. The property's strong demographics, including a high household income of $81,227, further enhance its investment appeal. This is a rare opportunity to acquire a well-established, high-performing grocery store asset in a desirable Southern California location. The property's address is 57590 29 Palms Hwy, Yucca Valley, CA 92284. The APN is 0595-271-36.

Location Insight

City

Yucca Valley

County

San Bernardino

State

California

Longitude

-116.408

Latitude

34.1269