All Star Burgers Cafe - Inland Empire
Retail | 6.70% CAP | 4,875 SqFt
Marketing description
The property consists of a 4875 SF building on 20,000 SF of land on a corner lot on State Highway 62, the main thoroughfare in Yucca Valley. The building has two tenants; each have been there for more than 10 years. There is an abundance of parking onsite as well as on each of the adjacent streets. The rental rates are below the rents in the area.
Yucca Valley is bordered by the San Bernardino Mountains to the west and is a gateway to Joshua Tree National Park (which receives 3 million visitors per year). Yucca Valley lies 37 miles north of Palm Springs and 17 miles west of 29 Palms, which is home to the largest marine base in the world. Yucca Valley is the commercial center for all of Morongo Valley and that includes the towns of Yucca Valley, Joshua Tree, 29 Palms and Morongo Valley and surrounding communities with a collective total population of 100,000. 29 Palms Hwy (State Hwy 62) is the main retail artery. Yucca Valley is the home to a Walmart Supercenter and a Home Depot.
Investment highlights
- Each of the tenants have occupied their suite for more than 10 years
- Each of the tenants have 5 years or more remaining on their lease
- Each of the leases have 3% annual rent increases
- The major tenant pays for water, gardening and trash
- The tenants are both service tenants
- 5 cars/1,000 SF parking on a concrete parking lot
- Approximately 24,000 cars per day traffic count on a corner lot on a State Highway
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