56492 Twenty Nine Palms Hwy
Yucca Valley, CA 92284

Marcus & Millichap is pleased to offer this exclusive listing of this single-tenant government office building located at 56492 Twenty-Nine Palms Highway, Yucca Valley, CA. The property consists of a 5,340 square foot office building that was developed in 2003 as a build-to-suit for the Social Security Administration. As part of the 2017 renewal, the GSA invested over $279,000 that included new furniture, a remodeled lobby with added windows to improve workflow in this busy facility, and updated security features to name a few of the improvements. The landlord also invested in a 512 square foot addition, new roof, carpet, hard surface floors, new exterior drainage, and sprinkler system. Additionally, the landlord installed a remote-control thermostat that features on-line access to control the six HVAC system. The property is encumbered by a 15-year gross lease, which is backed by the US Government, AA+ S&P rated, and currently has over eight (8) years remaining on the firm term and over thirteen (13) years remaining on the term. This investment is ideal for an investor who is seeking a stable cash flow from one of the highest credit tenants available. The property is cash flowing $106,421 per year. With attractive currently available financing, an investor could receive an 8.80% total return with an approximate 30% percent down payment. Yucca Valley is a community located in San Bernardino County, California, in the market known as the Inland Empire. The Twentynine Palms Base (US Marine Corps) is about 20 miles east and Palm Springs is about 27 miles to the north. Average office market rents in Yucca Valley are $21.32 per square foot in comparison to the Yucca Valley SSAs $19.25 per square foot base rent. The area also boasts a low 7.2% vacancy rate that continues to decline. The SSA is an independent agency of the United States Federal Government that administers Social Security, a social insurance program consisting of retirement disability, and survivors benefits. The agency includes ten regional offices, eight processing centers, and approximately 1,300 field offices, and 37 Teleservice Centers. As of 2007, about 62,000 people were employed by the SSA. Social Security is the largest social welfare program in the United. States. The SSA has been named the sixth best places to work in the federal government.