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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    73808 2nd Mile Rd Twentynine Palms, CA 92277-9756

    • Apartment buildings
    • 2,160 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    5.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US10-1546451
    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

    • Apartment buildings

    Property Details for 73808 2nd Mile Rd

    Year built
    1948
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property size
    2,160 SF
    Property type
    Apartment buildings
    APN
    0621-163-12-0000
    APU
    621163120000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $320,000
      6.5%
      $295,000
      7%
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $458,000
      Market price range: $308k - $759k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $460,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $580,000
      Change: +26% Conversion: Difficult
      WAREHOUSE, STORAGE
      $550,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $480,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Twentynine Palms
    County
    San Bernardino
    State
    California
    Longitude
    -116.052
    Latitude
    34.1506
    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
    $1,999
    $21,606
    $152,635
    $174,241
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $345,000
      5,458 SF

      6610 Adobe Rd

      APARTMENT HOUSE (5+ UNITS) • 5,458 SF
      6610 Adobe Rd, Twentynine Palms, CA 92277-3304
      View Details
    • Value Estimation
      $365,000
      4,600 SF

      6424 Athol Ave

      APARTMENT HOUSE (5+ UNITS) • 4,600 SF
      6424 Athol Ave, Twentynine Palms, CA 92277-2682
      View Details
    • Value Estimation
      $495,000
      6,144 SF

      73731 Serrano Dr

      APARTMENT HOUSE (5+ UNITS) • 6,144 SF
      73731 Serrano Dr, Twentynine Palms, CA 92277-3385
      View Details
    • Value Estimation
      $380,000
      1,864 SF

      6637 Yucca Ave

      APARTMENT HOUSE (5+ UNITS) • 1,864 SF
      6637 Yucca Ave, Twentynine Palms, CA 92277-3285
      View Details
    • Value Estimation
      $355,000
      2,960 SF

      6280 Yucca Ave

      APARTMENT HOUSE (5+ UNITS) • 2,960 SF
      6280 Yucca Ave, Twentynine Palms, CA 92277-7019
      View Details
    • Value Estimation
      $420,000
      4,368 SF

      74691 29th Palms Hwy

      APARTMENT HOUSE (5+ UNITS) • 4,368 SF
      74691 29th Palms Hwy, Twentynine Palms, CA 92277-2704
      View Details

    Similar Nearby for Sale

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      2,500 SF

      29 Palms Apartment Investment Opportunity

      Six-unit apartment complex on 2.25 acres with expansion potential.
      6555 Indian Cv Rd, 29 Palms, CA 92277
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    • $979,900

      Twentynine Palms Multi-Unit Property

      Multi-unit property in Twentynine Palms near Joshua Tree.
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      2,200 SF

      Twentynine Palms Triplex Investment

      Triplex in downtown Twentynine Palms, turn-key investment opportunity.
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    • $340,000

      Mid-Century Triplex Investment Opportunity

      Fully leased triplex near national park, shops, and military base.
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    • $359,900

      Twentynine Palms Triplex Investment

      Triplex in downtown Twentynine Palms, turn-key investment opportunity.
      6030 Ocotillo Ave, Twentynine Palms, CA 92277
      View Details
    • $269,900

      Charming Duplex in 29 Palms

      Well-maintained duplex in a prime location near Joshua Tree.
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    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      29 Palms Hwy Commercial Space

      Prime Retail/Office Space Available
      73737 29 Palms Hwy, Twentynine Palms, CA 92277
      View Details
    • $2,850 /Mo

      Office Space with Multiple Rooms

      Office space featuring ten rooms, restrooms, and kitchen storage.
      73421 29 Palms Hwy, Twentynine Palms, CA 92277
      View Details
    • $2,850 /Mo
      2,291 SF

      Office Space in 29 Palms

      Office space available with multiple rooms and convenient amenities.
      73421 29 Palms Hwy, 29 Palms, CA 92277
      View Details
    • $529,900
      1,125 SF

      Former Car Dealership for Lease

      1,125 SF building on 13,260 SF lot, former dealership.
      73709 29 Palms Hwy, Twentynine Palms, CA 92277
      View Details
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    Twentynine Palms, CA 92277-9756
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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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