62735 29 Palms Hwy Joshua Tree, CA 92252
- Self storage facilities
- 2.34 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 62735 29 Palms Hwy
- Lot size
- 2.34 lot acres
- Property type
- Self storage facilities
Description
This exceptional investment opportunity presents a proposed self-storage development in the thriving Joshua Tree, CA market. Located on a 2.34-acre lot at 62735 29 Palms Hwy, 92252, this project features plans for six buildings and an office, totaling 29,700 net rentable square feet and encompassing 324 non-climate-controlled units. The property boasts an enviable location with excellent visibility along 29 Palms Highway (CA-62), experiencing high daily traffic counts of approximately 18,000 vehicles. With limited competition—only one other facility within a 5-mile radius—this development is poised for strong occupancy rates. The pro-forma NOI is $488,365, resulting in an 8.01% cap rate, and the asking price is $675,000. Projected opening is slated for 2025. This development presents a compelling opportunity to capitalize on the growing demand for self-storage in this dynamic area of California. The property's strategic location and substantial size make it an attractive investment for those seeking strong returns in the self-storage sector. The high traffic counts and low competition further enhance the potential for significant profitability.
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
- Joshua Tree
- County
- San Bernardino
- State
- California
- Longitude
- -116.294618
- Latitude
- 34.134043
