73544 29 Palms Hwy - 29 Palms Indoor Storage 17,835 SF Specialty Building Offered at $7,677,560 CAD at a 6.14% Cap Rate in Twentynine Palms, CA 92277

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.