61705 29 Palms HwyJoshua Tree, CA 92252

Property Details for 61705 29 Palms Hwy

Year built

1951

Property size (Sq ft)

1,455 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional 1,455 sq ft retail storefront, located at 61705 29 Palms Hwy, Joshua Tree, CA 92252, presents a compelling value-add investment opportunity. Boasting a prime corner location at the southwest intersection of Sunset Road and 29 Palms Highway, this property benefits from exceptional visibility and high traffic counts exceeding 18,000 vehicles daily. Currently 100% occupied by three tenants, including a restaurant and bottle shop, the property generates a strong NOI of $42,447, with a pro-forma NOI projected at $56,518, reflecting significant upside potential due to below-market rents. Built in 1951 and renovated in 2022, the single-story building sits on a 5,465 sq ft lot, offering ample parking for 10+ vehicles. The property's strategic location adjacent to the popular Joshua Tree Farmers Market and the entrance to Joshua Tree National Park (the ninth most visited nationally, attracting over 3 million visitors annually) ensures consistent foot traffic and strong tenant demand. The property is zoned Joshua Tree/CGSCP and offers additional development potential. The asking price is $1,400,000, translating to $962.20 per square foot and $82 per square foot of land value. This is a rare opportunity to acquire a thriving retail property in one of California's most sought-after destinations.

Location Insight

City

Joshua Tree

County

San Bernardino

State

California

Latitude

34.1347

Longitude

-116.317

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