56089 29 Palms Hwy Yucca Valley, CA 92284
- Grocery and convenience stores
- 25,262 SF
Current Use by Public Records
- Kasa Market & Taco Shop / Mexican Grocery Store / Mexican Restaurant
Property Details for 56089 29 Palms Hwy
- Year built
- 1966
- Property size
- 25,262 SF
- Property type
- Grocery and convenience stores
- APN
- 0586-314-03-0000, 0586-304-10-0000
Description
This exceptional investment opportunity presents a multi-tenant retail and residential property located at 56089 29 Palms Hwy, Yucca Valley, CA 92284. The property encompasses two buildings totaling 25,262 square feet on a 39,847 square foot lot, featuring 23 tenants across a mix of convenience store, grocery store, and restaurant spaces, along with residential units. The buildings, constructed in 1966 and renovated in 2012, boast 61 parking spaces and benefit from high visibility due to frontage on Twentynine Palms Highway and prominent monument signage. The property currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $266,131, resulting in a compelling 7.45% cap rate. The asking price is $3,570,000, translating to $141.32 per square foot of net rentable area (24,625 sq ft). The property is zoned OTHC(SP) & OTCR(SP) and includes two separate APNs: 0586-314-03-0000 and 0586-304-10-0000. The residential units, a mix of studios, one-bedroom, and two-bedroom apartments, are individually metered for gas and electricity, with two separate water meters. The property offers below-market rents and a recently overlaid parking lot, presenting a significant value-add opportunity for a savvy investor. This is a 1031 exchange eligible property.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Yucca Valley
- County
- San Bernardino
- State
- California
- Longitude
- -116.4409005
- Latitude
- 34.1203424
