73670-73680 El Paseo - Storefront FOR SALE
Palm Desert, CA 92260 |
73670-73680 El Paseo
Palm Desert, CA 92260
HIGHLIGHTS
- Embark on a single-tenant NNN investment opportunity to acquire a retail storefront at a 5.50% cap rate that increases to 6.05% in October 2027.
- One-story storefront building comprising 9,980 SF with a showstopping $6 million interior remodel to showcase the luxury Rolex USA offers.
- Home to a corporate tenant of Rolex USA, with the initial lease term expiring in October 2032 with two five-year options to extend.
- 73670-73680 El Paseo is surrounded by high-end retailers, including Gucci, Louis Vuitton, Bottega Veneta, and Sak’s Fifth Avenue.
FOR SALE DETAILS
PRICE
-
CAP RATE
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% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
9980
STORIES
1
YEAR BUILT
1999
SPRINKLERS
-
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
627-212-017
