28295 29 Palms Hwy, Yucca Valley, CA 92284
12,290 SF | Vacant | Office Building | Yucca Valley, CA 92284 | $2,100,000 ($171/SF)
For Sale
Active
Asking Price $2,100,000
- Property Type
-
Office
- Square Feet
- 12,290 SF
- Price / Square Foot
- $171
Listing Contacts
Sammy Cemo
Austin Reuland
Bryan Johnson
Nick Williams
Property Overview
INVESTMENT HIGHLIGHTS
RARE MEDICAL OWNER/USER OPPORTUNITY IN HEART OF DOWNTOWN YUCCA VALLEY
* 58-295 Twentynine Palms Highway presents an incredible opportunity to acquire a high-image medical office asset consisting of 12,290 square feet, on a spacious 2.59-acre lot.
* The existing clinical buildout should help reduce buildout costs for new ownership, keeping their all-in basis low, and helping expedite the timeframe to have a new practice up and running. Constructed in 2009, this building also provides a clean environment for a new owner's practice.
* An owner/user can immediately occupy the entire building, although roughly half of it is currently built out.
STRATEGIC LOCATION ALONG MAJOR COMMERCIAL CORRIDOR IN SAN BERNARDINO COUNTY
* Being situated along Twentynine Palms Highway, the main arterial between Yucca Valley and the Joshua Tree National Forest, provides a built-in customer base consisting of more than 28,000 residents with an average household income higher than $80K within 1, 3, and 5 miles.
* 30-minute drive from the Marine Corps Air Ground Combat Center (MCAGCC), the largest Marine Corps base in the world (21,000+ service members, civilians, and family members) and major economic catalyst for the region ($1.1 billion annual economic impact).
STRONG INLAND EMPIRE OFFICE MARKET FUNDAMENTALS
* The Inland Empire, a region whose $200-billion economy is equal to that of the State of Utah, has been Southern California’s best-growth market for nine straight years, averaging ±5.2% in economic growth each year. The Inland Empire’s population base of 4.6M people is Southern California’s second largest fueled by a growth rate that is almost 3.5 times more than the rest of the region since 1990.
* The Inland Empire has experienced 4% rent growth year-over-year in 4Q23, aided by the largest quarterly positive net absorption since 3Q18, per CBRE Research. For 2023, positive net absorption totaled 260,842 square feet. Consequently, total vacancy dropped to 8.8%, the lowest in Southern California.
RARE MEDICAL OWNER/USER OPPORTUNITY IN HEART OF DOWNTOWN YUCCA VALLEY
* 58-295 Twentynine Palms Highway presents an incredible opportunity to acquire a high-image medical office asset consisting of 12,290 square feet, on a spacious 2.59-acre lot.
* The existing clinical buildout should help reduce buildout costs for new ownership, keeping their all-in basis low, and helping expedite the timeframe to have a new practice up and running. Constructed in 2009, this building also provides a clean environment for a new owner's practice.
* An owner/user can immediately occupy the entire building, although roughly half of it is currently built out.
STRATEGIC LOCATION ALONG MAJOR COMMERCIAL CORRIDOR IN SAN BERNARDINO COUNTY
* Being situated along Twentynine Palms Highway, the main arterial between Yucca Valley and the Joshua Tree National Forest, provides a built-in customer base consisting of more than 28,000 residents with an average household income higher than $80K within 1, 3, and 5 miles.
* 30-minute drive from the Marine Corps Air Ground Combat Center (MCAGCC), the largest Marine Corps base in the world (21,000+ service members, civilians, and family members) and major economic catalyst for the region ($1.1 billion annual economic impact).
STRONG INLAND EMPIRE OFFICE MARKET FUNDAMENTALS
* The Inland Empire, a region whose $200-billion economy is equal to that of the State of Utah, has been Southern California’s best-growth market for nine straight years, averaging ±5.2% in economic growth each year. The Inland Empire’s population base of 4.6M people is Southern California’s second largest fueled by a growth rate that is almost 3.5 times more than the rest of the region since 1990.
* The Inland Empire has experienced 4% rent growth year-over-year in 4Q23, aided by the largest quarterly positive net absorption since 3Q18, per CBRE Research. For 2023, positive net absorption totaled 260,842 square feet. Consequently, total vacancy dropped to 8.8%, the lowest in Southern California.
Property Details
- Class
- B
- Year Built
- 2009
- Stories
- 1
- Property Subtype
- Medical
- Lot Size (sq. ft)
- 93,218 SF
Highlights
- RARE MEDICAL OWNER/USER OPPORTUNITY IN HEART OF DOWNTOWN YUCCA VALLEY
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