73255 El Paseo - Storefront Retail/Office FOR SALE


Palm Desert, CA 92260- South Palm Desert
$11,200,000 USD
818-281-7893
73255 El Paseo, Palm Desert, CA for Sale
$11,200,000 USD
Storefront Retail/Office - FOR SALE
1/18
null | 6% Cap Rate

73255 El Paseo
Palm Desert, CA 92260
South Palm Desert


HIGHLIGHTS

  • MAIN & MAIN OF THE PREMIER EL PASEO LUXURY RETAIL DESTINATION
  • EXCELLENT PHYSICAL CONDITION AND RECENT CAPITAL IMPROVEMENTS
  • COMPETITIVE LEASING ADVANTAGES - PREMIER CORE EL PASEO LOCATION WITH RARE COVERED PARKING
  • STRONG IN-PLACE CASH FLOW WITH FUTURE UPSIDE
  • ATTRACTIVE CORE-PLUS INVESTMENT OPPORTUNITY

OVERVIEW

Sage Place is a ±25,590 SF high-street retail center located at the "Main & Main" of Palm Desert's premier El Paseo corridor, the luxury retail corridor of the Coachella Valley. Offered at $11.2M ($445/SF) with a 6.0% cap rate and 90% occupancy, the property combines strong in-place cash flow (~$668K NOI Year 1) with strong scheduled rent growth and upside through lease-up and mark-to-market rent growth. The asset The asset features exceptional frontage at El Paseo's main entrance, with an estimated 500,000 pedestrian counts per year and strong vehicular traffic counts (39,462 CPD on Hwy 111), and rare covered on-site parking (79 spaces), all within one of the Coachella Valley's most affluent and supply-constrained retail markets. Overall, Sage Place represents a trophy core-plus investment opportunity in one of Southern California's most coveted retail destinations

FOR SALE DETAILS

PRICE

$11,200,000 USD

PRICE/SF

$438 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sage Place - Main & Main of El Paseo

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Freestanding, 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

Nick D'ArgenzioBlvd Real Estate Investment Co.More Info
818-281-7893

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Nick D'ArgenzioBlvd Real Estate Investment Co.More Info
818-281-7893

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