22092 Us Highway 18Apple Valley, CA 92307

Property Details for 22092 Us Highway 18

Year built

1977

Construction

WOOD FRAME

Lot size

3.11 AC

Property size (Sq ft)

17,720 SF

Property type

Retail space

APN

3112-651-23-0000

APU

3112651230000

Description

This exceptional 38,215 square foot special purpose property, located at 22092 US Highway 18 in Apple Valley, CA 92307, presents a unique investment opportunity. Built in 1989 and renovated in 2021, this property boasts ten single-story buildings situated on a 135,656 square foot lot (APN: 3112-651-23). The property is zoned SP and offers a diverse range of spaces, including 588 square feet of office space, 820 square feet of new bathrooms, a 1,208 square foot bar, a 7,670 square foot event center, 9,016 square feet of vendor booths, two retail shops totaling 7,678 square feet, and an 11,438 square foot warehouse. Existing plans are available for a 6,612 square foot brewery and additional restrooms, offering significant expansion potential. The asking price is $3,250,000 ($85.05 per square foot). This property is ideally situated on a prime retail strip in Apple Valley's Old Town, ensuring high visibility and foot traffic. The property has a Certificate of Occupancy. Owner financing is available. This is an unparalleled chance to acquire a versatile and established event center with substantial growth opportunities in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $6,075,967

  6.5%

  $5,608,585

  7%

  $5,207,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,975,756

  Geo Method

  $11,061,851

• Alternative Use

  Use

  Valuation

  Residential

  $4,731,051

  Hospitality

  $4,333,618

  Educational

  $3,605,519

  Medical

  $3,729,518

  Retail

  $5,608,585

Location Insight

City

Apple Valley

County

San Bernardino

State

California

Latitude

34.5016

Longitude

-117.182

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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