Property Details for 57084 29 Palms Hwy

Lot size

1.21 lot acres

Property size

6,085 SF

Property type

Freestanding property

Description

This exceptional investment opportunity presents a freestanding Black Bear Diner restaurant in Yucca Valley, California. The property boasts a 6,085 square foot building situated on a 1.21-acre lot at 57084 29 Palms Hwy, 92284. The property is subject to an absolute NNN lease with a highly desirable 15-year remaining term, featuring 10% rent increases every five years and three, five-year renewal options. The current annual net operating income (NOI) is $144,000, resulting in a compelling 6.00% cap rate. The asking price is $2,400,000. The property benefits from a prime location on 29 Palms Highway, just 10 miles from the renowned Joshua Tree National Park, attracting over 3,000,000 annual visitors. Proximity to Yucca Valley Airport and Twentynine Palms Airport further enhances visibility and accessibility. The area also features numerous national retailers including Amazon, Walmart, Grocery Outlet, ALDI, and Tractor Supply Co, driving significant traffic to the area. The current rent is $23.66 per square foot, and the sub 6% rent-to-sales ratio demonstrates the strength of this investment. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential.

Location Insight

City

Yucca Valley

County

San Bernardino

State

California

Longitude

-116.4192968

Latitude

34.1222089