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    Property profile & analytics

    61850 Chollita Rd Joshua Tree, CA 92252

    • Assisted living facilities
    • 11,926 SF
    • 0.82 lot acres
    For Sale
    View listing
    $1,650,000
    Last Sale
    Sep 22, 2021
    $2,286,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1548062
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Assisted living facilities

    Property Details for 61850 Chollita Rd

    Year built
    1964
    Construction
    WOOD
    Lot size
    0.82 lot acres
    Property size
    11,926 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    0603-222-25-0000
    APU
    603222250000

    Description

    This exceptional Joshua Tree investment presents a unique redevelopment opportunity. The property encompasses a 1.63-acre lot (71,002 sq ft) featuring five existing freestanding buildings totaling 24,000 square feet of net rentable space. Originally constructed in 1964, these structures are currently zoned JT/RM, providing significant flexibility for adaptive reuse. Pre-planning comments for a 32-unit multifamily development are already available, streamlining the approval process. The property's central location in Joshua Tree offers convenient access to local amenities, situated just one block from shops and restaurants, and a short five-minute drive to Joshua Tree National Park. This presents a cost-effective alternative to ground-up construction, allowing for efficient repositioning into a multifamily apartment complex, senior care facility, or other suitable mixed-use development. The asking price is $2,050,000. The property's single story configuration and existing infrastructure minimize initial development hurdles. This is an ideal opportunity for investors seeking a high-return project in a desirable location. APN: 0603-222-25-0000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,675,000
      ML approach
      $2,680,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,255,000
      OFFICE BUILDING
      $3,110,000
      RESTAURANT
      $2,205,000
      AUTO REPAIR, GARAGE
      $2,065,000
      MEDICAL BUILDING
      $1,670,000
      RETAIL STORES
      $1,615,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Joshua Tree
    County
    San Bernardino
    State
    California
    Longitude
    -116.314
    Latitude
    34.1378
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,013
    $312,120
    $1,754,635
    $2,066,755
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $595,000
      2,487 SF

      6410 El Reposo St

      HOMES (RETIRED, NURSING) • 2,487 SF
      6410 El Reposo St, Joshua Tree, CA 92252-2340
      View Details
    • Value Estimation
      $235,000
      720 SF

      61771 29th Palms Hwy

      MEDICAL BUILDING • 720 SF
      61771 29th Palms Hwy, Joshua Tree, CA 92252-2302
      View Details
    • Value Estimation by Request
      1,520 SF

      61828 Chollita Rd

      MEDICAL BUILDING • 1,520 SF
      61828 Chollita Rd, Joshua Tree, CA 92252-2328
      View Details
    • Value Estimation
      $325,000
      1,320 SF

      6441 Park Blvd

      MEDICAL BUILDING • 1,320 SF
      6441 Park Blvd, Joshua Tree, CA 92252-2341
      View Details
    • Value Estimation by Request

      61828 Chollita Rd

      MEDICAL BUILDING
      61828 Chollita Rd, Joshua Tree, CA 92252-2328
      View Details
    • Value Estimation
      $290,000
      0.07 Acres

      Joshua Tree, CA 92252

      CHEMICAL • 0.07 Acres
      Joshua Tree, CA 92252
      View Details

    Similar Nearby for Sale

    • $1,650,000
      13,451 SF

      Joshua Tree Multifamily Investment Opportunity

      24,000sf property on 1.63 acres, ideal for multifamily development.
      61850 Chollita Rd, Joshua Tree, CA 92252
      View Details
    • $59,000

      Remodeled Single Wide Mobile Home

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    • $675,000
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      Joshua Tree Self Storage Development

      High-Demand CA Self Storage Opportunity
      62735 29 Palms Hwy, Joshua Tree, CA 92252
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    • $48,000

      Joshua Tree Land with Water Meter

      2.21-acre lot in Joshua Tree with water meter installed.
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    • $120,000

      Joshua Tree Desert Land Parcel

      Over 19 acres of desert land with mountain views.
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      View Details
    • $695,000

      Desert Land For Sale

      Joshua Tree land available for purchase.
      62147 Desert Air Rd, Joshua Tree, CA 92252
      View Details
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    Joshua Tree, CA 92252
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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