71722 29 Palms HwyTwentynine Palms, CA 92277

Property Details for 71722 29 Palms Hwy

Year built

2022

Lot size

5.38 AC

Property size (Sq ft)

16,000 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 16,000 square foot Grocery Outlet, strategically located on 29 Palms Highway in Twentynine Palms, California. The property boasts a 15.1-year net lease (NN+) with a corporate guarantee from a nationally recognized tenant, ensuring consistent cash flow and minimal landlord responsibilities. The lease commenced December 15, 2022, and expires December 31, 2037, featuring built-in rent bumps every five years. The asking price is $6,400,000, representing a compelling 5.50% cap rate with a current net operating income (NOI) of $352,000. Built in 2022, this single-tenant property sits on a 5.38-acre lot, providing ample parking and convenient access for customers. Its high-visibility location benefits from significant traffic volume, drawing from a robust local population, tourism related to nearby Joshua Tree National Park, and the substantial presence of the Marine Corps Air Ground Combat Center (MCAGCC). The property's design and location are well-suited to meet the growing demand for grocery and essential goods in this area, further enhanced by ongoing residential expansion and a reported $150 million retail gap in the market. This is a strong, stable investment with built-in growth potential. The property is offered as a 1031 exchange opportunity.

Location Insight

City

Twentynine Palms

County

San Bernardino

State

California

Latitude

34.1358

Longitude

-116.098

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].