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100 Morgan Dr Needles, CA 92363

Commercial land Google Maps
2.29 ac lot
Entity Owned 6-yr Hold Free & Clear
Estimated value (blended)
$460k
Range $414k – $506k (±10%)
Property ID US10-0992939

Property summary

AI-generated overview

This exceptional commercial land offering presents a unique investment opportunity in the thriving city of Needles, California. Encompassing 2.29 acres, this property consists of two adjacent parcels (APN: 0650-312-03, 0650-312-04) strategically located near Highway 95, providing excellent visibility and accessibility. One parcel enjoys a prominent corner location at Morgan Drive and Broadway Street. The land is zoned C-3 Commercial, allowing for a diverse range of development possibilities. Permitted uses include, but are not limited to, cannabis cultivation, hotel/motel construction, office buildings, convenience stores, and even a movie theater. This versatile zoning provides significant flexibility for future development plans. The property's convenient location offers easy access to Interstate 40 and the Needles Bridge, providing seamless connectivity to Arizona. With a total asking price of $299,000, this represents a compelling price per acre of $130,568, making it an attractive investment for both developers and long-term investors seeking a foothold in a rapidly growing market. The property is owned by an LLC.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Construction WOOD FRAME
Lot 2.29 ac (99,752 SF)
APN 0650-312-03-0000
UPID US10-0992939

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$525k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$460k

Owner & transaction history

since 2020
Last sale
$375,000
2 recorded transactions
2020
$375,000
1989
$57,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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