73255 El Paseo - Storefront Retail/Office FOR SALE


Palm Desert, CA 92260- South Palm Desert
$11,376,000 USD
949-725-8507
73255 El Paseo, Palm Desert, CA for Sale
$11,376,000 USD
Storefront Retail/Office - FOR SALE
1/5
null | 6% Cap Rate

73255 El Paseo
Palm Desert, CA 92260
South Palm Desert


HIGHLIGHTS

  • Point of Destination Location – Sage Place enjoys its corner location within the heart of El Paseo
  • High-Traffic, Easily Accessible Location – Sage Place is located just off El Paseo (±14,300 CPD), with direct access to Highway 111 (±36,600 CPD)
  • Strong Tenant Leasing Momentum – Sage Place has enjoyed robust leasing momentum over the past couple of years with recent significant leases

OVERVIEW

* Point of Destination Location – Sage Place enjoys its corner location within the heart of El Paseo, Palm Desert’s pedestrian-friendly, “high street” corridor and shopping destination * Known for being the “Rodeo Drive” of the desert, El Paseo features over 300 upscale restaurants, designer fashions, art galleries, interior design, and specialty services * Pride of Ownership Asset – Sage Place is a ±25,590 SF high street retail asset, currently 90% leased to a synergistic mix of retail, service-retail tenancy, food, and boutique office tenancy. High quality retail investment properties like Sage Place rarely become available, providing a unique, once-in-a-lifetime opportunity for investors * High-Traffic, Easily Accessible Location – Sage Place is located just off El Paseo (±14,300 CPD), with direct access to Highway 111 (±36,600 CPD) the trade area’s primary corridor benefiting from consistent traffic * Strong Tenant Leasing Momentum – Sage Place has enjoyed robust leasing momentum over the past couple of years with recent significant leases including Hundenfolk (January 2024) with a recent expansion in 2025, Coco Rose (November 2023), and Desert Psychiatric Associates (January 2024) proving the dynamic trade area and desirability of the center and its location * Improving Cash Flow – Through the lease-up of vacant space, embedded increases, and below-market rents rolling to market, the Net Operating Income is projected to increase more than $322,000 over the anticipated 10-year hold period

FOR SALE DETAILS

PRICE

$11,376,000 USD

PRICE/SF

$444 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sage Place

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

79

LAND DETAILS

LAND ACRES

1.31 AC

LAND SF

57,064 SF

ZONING

C1

APN/PARCEL ID

627-251-001

ASK ABOUT THIS PROPERTY

Jimmy SlusherCBRE, Inc.More Info
949-725-8507

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Jimmy SlusherCBRE, Inc.More Info
949-725-8507

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.