Lucerne Valley Shopping center is located on the main road in the center of Lucerne Valley, California. Lucerne Valley sits within the San Bernardino County. The property is at the northeast side of the junction of CA 247 and Highway 18 in the Victor Valley area. The center is 34 miles south of Barstow, 51 miles northwest of Yucca Valley and 23 miles east of the 1-15 freeway. Many travelers use these connecting roads to travel to Big Bear, Barstow, Victorville and Palm Springs/Yucca Valley area.
In September of this year an episode of the Amazon Prime series, The Grand Tour, was filmed at Rabbit Dry Lake, just outside the town limits. Both Rabbit Dry Lake and Lucerne Dry Lake have been used for filming. Every year during near February the town draws crowds as the King of the Hammers off road race brings in thousands of enthusiasts to Johnson Valley, just 20 minutes away. Lucerne Valley is the closest city to this ultimate desert race. According to King of the Hammers, last years 2016 race was the biggest and most successful to date.
In 2015, a Dollar General store opened it's doors and became the first franchise grocery retail to enter the town limits. The Dollar General sits 1000 feet to the east of the center. Within wakling distance from the center is Adelita's Restaurant, the China House, Kallans Bar and Grill and Cafe 247. Across to the southwest is a Valero and 76 gas station serving residents and travelers in the area.
The center was built, added to and maintained by the same family since 1953. The center comprises approximately 27,780 square feet on approximately 3.77 acres of Rural Commercial land in 5 separate parcels with 1.67 acres of paved parking. Tenants include a Lucerne Valley Liquor, Lutheran Center, Pacific Clinics, Rocks Place Pizza, Center Water Company, Stallone Cycles, Lucerne Leader (Daily Press), Mavericks Gym, Lucerne Pottery, beauty salon, along with Master Rubens Karate and thrift stores. A 2,400 sq. Ft. unit is an owner occupied thrift store that they anticipate closing with the sale of this property. A large number of these tenants have been in the center for many years.
There are many additional uses that have the potential to develop additional income for this property especially considering the extra vacant land. The County Zoning is Rural Commercial which has many additional permitted uses and many other uses with approval of county planning. According to the County of San Bernardino 2007 Development Code, “The CR (Rural Commercial) land use zoning district provides sites for retail trade and personal services, repair services, lodging services, recreation and entertainment services, transportation services, and similar and compatible uses.“
With current rents and vacancies, the current offer price returns a 6.44% CAP. At full occupancy the offer price returns a 10% CAP. Full income and expense figures will be provided upon request to interested parties. These numbers are subject to change as the owners are interviewing new tenants regularly to fill the vacancies.
The financing of this property is simple and straight forward and can be accomplished without a long and involved bank qualification and approval process with all the yearly financial reporting and the personal and corporate loan guarantees most banks are now requiring. The owners are offering to carry the balance with a 50% down payment at 7% amortized for 30 years due in 10.
The sellers are well motivated to sell this property and will seriously consider all offers.
Directions from the 1-15 Take exit 147 Bear Valley Rd., turn right onto Bear Valley Rd. and continue for 12.5 miles, turn right onto CA-18 and continue for 10.6 miles. Property is on your left.
Directions from Yucca Valley Turn onto Highway 247 and continue for approximately 44.7 miles. Property is on your right.
Directions from Barstow Turn onto Barstow Rd/Highway 247 and continue for approximately 33.6 miles, turn right onto Old Woman Springs Rd. for .2 miles. Property is on your left.
Commercial Properties for Sale in Lucerne Valley - Kristen L. Maley (Realtor, Commercial Pricing Strategist at LandCore Realty). LandCore Realty provides cutting edge technology and marketing to its clients. I specialize in helping owners and those looking to invest in commercial or raw land properties in Oro Grande, Adelanto, Victorville, Hesperia, Apple Valley, Lucerne Valley, Helendale and surrounding areas.(760) 952-2345