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16870 State Highway 14 $799,000

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    16870 State Highway 14 Mojave, CA 93501

    • 4,050 sq. ft.
    • 0.81 Acres
    • Commercial Sale
    • MLS# DW22070697
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    Views: 13 Days On Market: 237

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    Property Details

    Beautiful and well kept Thai cuisine standalone restaurant is for sale on a business highway in the heart of Mojave, California. Restaurant can seat about 60 people with many parking stalls on a lot size of: 35,284 sq. ft. Huge upside potential, the world renown company: Tesla is in the process of installing 12 Tesla charging stations on this property parking lot at: $150 per station, per month. Which this calculates to: $1,800 per month. Owner is hoping permitting of these installations will be finalized in December 2022. Then the owner will work on finalizing the design and easement with Southern California Edison. The inside scoop is that several Virgin Galactic corporate executives have been spotted eating at this restaurant. Current tenant is paying about: $3,000 per month which includes the $500 common area maintenance fee. The Current calculation is a: 2.68% capitalization rate. Gross Scheduled Income = $3,000 x 12 months = $36,000 per year. $36,000 - $3,600 (10%) Vacancy Factor = $32,400 Gross Operating Income. $32,400 - $15,940 (Expenses of: Insurance (liability), Insurance (flood), Gardening/Maintenance, CAM water bill, Estimated taxes at: 1.25%) = $21,459 Net Operating Income. $21,459 /divided by/ $799,000 = 2.68% CAP Rate. The ProForma calculation is a: 4.49% capitalization rate. Gross Scheduled Income = $4,800 (Thai & Tesla Tenants) x 12 months = $57,600 per year. $57,600 - $5,760 (10%) Vacancy Factor = $51,840 Gross Operating Income. $51,840 - $15,940 (Expenses of: Insurance (liability), Insurance (flood), Gardening/Maintenance, CAM water bill, Estimated taxes at: 1.25%) = $35,899 Net Operating Income. $35,899 /divided by/ $799,000 = 4.49% CAP Rate. Located in a magnificently beautiful area in Mojave with plentiful parking! The restaurant is on the northern side of Mojave, close to the Mojave Air and Space Port. Fronting on Highway 14 where it turns East towards Bishop and Mammoth, the restaurant is highly visible and makes a logical stopping point for those making the long trip to and from those winter and summer resorts. Several driveways make it easy to exit the highway. Tenant is Not aware of the sale, please be very discreet. Visit as a customer only, do not walk in the kitchen nor the back of the counter. Do not ask questions to anyone, thank you.

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    Neighborhood

    93501 (Mojave) Demographics

    40 Median Age
    29 Population Density (per sq. mile)
    10% College Educated
    $41,047 Estimated Median Income
    939 Estimated Total Home Owners
    929 Estimated Total Renters
    50% / 50% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    4,798 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    12 New On Market

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      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $799,000
        9/26/2022 7:02:40 PM Price Reduced Source: Multiple Listing Service New Value: $799,000 -3.62%
        4/8/2022 5:33:00 AM New in Database Source: Multiple Listing Service New Value: $829,000

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        Based on information from California Regional Multiple Listing Service, Inc. as of 11/30/2022 2:19:25 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.