73544 29 Palms Hwy - Self-Storage Facilities FOR SALE


Twentynine Palms, CA 92277
$5,500,000 USD
214-738-7424
73544 29 Palms Hwy, Twentynine Palms, CA for Sale
$5,500,000 USD
Self-Storage Facilities - FOR SALE
1/6
null | 6.14% Cap Rate

73544 29 Palms Hwy
Twentynine Palms, CA 92277


HIGHLIGHTS

  • Yield-Producing Facility With Current Physical Occupancy at 90
  • Ability to Expand the 30,000 sq ft parking lot to drive-up units or portable pods
  • High Achieved In Place Rates Over $28
  • The Subject Property Is the Only Climate-Controlled Facility within 40 Miles
  • Twentynine Palms Is Located at the Gateway to Joshua Tree and Is Home to the Largest Marine Corps Base in the US
  • Located 1 Hour From the Palm Springs International Airport (PSP)

OVERVIEW

29 Palms Indoor Storage offers a promising investment opportunity in Twentynine Palms, CA, strategically positioned in a desirable location near Joshua Tree. Built in 2021, the facility encompasses 17,835 net rentable square feet (NRSF) across 165 units, with a mix of climate controlled storage. Currently, the property operates at 89% physical occupancy and 87% economic occupancy, highlighting substantial growth potential as the lease-up progresses. The facility’s stable market conditions, combined with an opportunity to increase rental rates by 6.4% within a year, offer significant upside as the property reaches market levels. Significant growth opportunity with 30,000± SF of underutilized parking lot, ideal for conversion into income-producing uses—ranging from parking and portable storage to drive-up expansion. Situated near the gateway to Joshua Tree and home to the largest Marine Corps base in the US, 29 Palms Indoor Storage benefits from high demand driven by the area's strategic location. The surrounding market shows no planned developments within a five-mile radius, ensuring a consistent customer base. With its current physical occupancy at 89% and the potential to increase rates, 29 Palms Indoor Storage is poised for continued revenue growth. The property’s management strategy includes significant rate increases to reach market levels by Year 1, and the expansion opportunities further enhance the value proposition. This investment represents a chance to acquire a high-quality, well-positioned self-storage asset with solid growth potential and a stable, growing customer base.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$308 USD /SF

CAP RATE

6.14%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

29 Palms Indoor Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

CG

APN/PARCEL ID

0618-232-36

ASK ABOUT THIS PROPERTY

Jennifer SteinSkyView AdvisorsMore Info
214-738-7424

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Jennifer SteinSkyView AdvisorsMore Info
214-738-7424

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