73625 Highway 111 - Storefront Retail/Office FOR SALE


Palm Desert, CA 92260- South Palm Desert
$6,950,000 USD
858-414-1210
73625 Highway 111, Palm Desert, CA for Sale
$6,950,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | 7.18% Cap Rate

73625 Highway 111
Palm Desert, CA 92260
South Palm Desert


HIGHLIGHTS

  • Year 1 cap rate 7.18%
  • Diversified tenant mix
  • Keedy's Fountain & Grill, the anchor tenant and a Palm Desert institution since 1957 has executed a new 5-year lease renewal running through June 2031
  • An elevated experience awaits at El Paseo home to upscale restaurants, designer fashion, art galleries, interior design showrooms & specialty services
  • 48,585 cars per day along Highway 111

OVERVIEW

Fountain Plaza offers investors the opportunity to acquire a well-established retail asset positioned at the intersection of convenience and visibility in Palm Desert’s premier retail corridor—El Paseo and Highway 111. This property benefits from 232 feet of frontage along Highway 111, a major commuter artery with traffic counts exceeding 48,500 vehicles per day. Anchored by Keedy’s Diner, a community fixture operating since 1957, the center boasts historical significance and strong tenant loyalty. The center spans 21,783 square feet on a 0.92-acre parcel with diverse tenants that ensure consistent rental income and cash flow stability. The offering includes 94% occupancy, a forecasted Year One NOI of $499,014, and a cap rate of 7.18%, presenting investors with both attractive in-place income and upside potential through strategic leasing or repositioning. Located within steps of luxury shopping, fine dining, and hospitality amenities on El Paseo, the property sits at the heart of a dense, affluent trade area, close to prominent resorts, golf destinations, and major regional transportation routes.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$319 USD /SF

CAP RATE

7.18%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fountain Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

SPRINKLERS

-

PARKING SPACES

66

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

D

APN/PARCEL ID

627-212-015

ASK ABOUT THIS PROPERTY

Josh SalikVoit Real Estate ServicesMore Info
858-414-1210

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Josh SalikVoit Real Estate ServicesMore Info
858-414-1210

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