57200 29 Palms Hwy - Supermarket FOR SALE


Yucca Valley, CA 92284
$2,950,000 USD
480-221-4221
57200 29 Palms Hwy, Yucca Valley, CA for Sale
$2,950,000 USD
Supermarket - FOR SALE
1/9
null | 3.86% Cap Rate

57200 29 Palms Hwy
Yucca Valley, CA 92284


HIGHLIGHTS

  • Grocery Anchored Shopping Center | Corporate Signed Leases | Below Replacement Costs | Great Value-Add Opportunity
  • Gateway to Prominent Retail Corridor | 29 Palms Highway | Excellent Visibility & Access
  • Across From Multiple Shopping Centers | National/Credit Tenants
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Desert Hills Plaza, a Grocery-Anchored shopping center investment property located in Yucca Valley, California. The property was recently renovated in 2019, when the anchor tenant, Grocery Outlet, Inc. signed a new 10-year lease with 3 (5-year) options to extend. The leases feature scheduled rent increases at the beginning of each option periods. At 41% occupancy, the property has remaining spaces to be leased, providing a great upside potential for a future investor/user to maximize the value of the property.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$65 USD /SF

CAP RATE

3.86%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Desert Hills Plaza | Corp Lease | Value-Add

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

236

LAND DETAILS

LAND ACRES

3.67 AC

LAND SF

159,865 SF

ZONING

CG

APN/PARCEL ID

0595-371-37

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.