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71737 29 Palms Highway

Marcus & Millichap Facilitates $2.1M Sale Of Dollar Tree Retail Property
SOLDRetail

Marcus & Millichap Facilitates $2.1M Sale Of Dollar Tree Retail Property

71737 29 Palms Highway

$2,100,000

$135/SF

Building Size

15,506 SF

Asset Type

Retail

Closing

Jun 6, 2024

AI

The sale involved a retail property located at 71737 29 Palms Highway in Twentynine Palms, Southern California. The property, measuring 15,506 square feet, was sold for $2.1 million, translating to a price per square foot of $135.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,100,000
  • Address: 71737 29 Palms Highway
  • Market: Twentynine Palms

Karl Markarian from JohnHart Real Estate acted as the buyer's representative in the transaction, while Christopher Hurd and Michael Grandstaff from Marcus & Millichap represented the seller. Marcus & Millichap facilitated the sale of the Dollar Tree retail property in Twentynine Palms, with the property being part of a larger retail plaza and coming with lease commitments.

Players

Karl Markarian

eXp World Holdings

Broker

$69.9M

vol

14 deals

Broker

Twentynine Palms Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93