73759 Highway 111 - Restaurant FOR SALE


Palm Desert, CA 92260- South Palm Desert
$1,325,000 USD
949-725-8582
73759 Highway 111, Palm Desert, CA for Sale
$1,325,000 USD
Restaurant - FOR SALE
1/5
null | 6.4% Cap Rate

73759 Highway 111
Palm Desert, CA 92260
South Palm Desert


HIGHLIGHTS

  • Point of Destination Location - 100% leased to high-performing, trade area appropriate tenants
  • Below Market Rents – Property-wide, lease rates are on average 18% below current market rates
  • Excellent Location – The property is well-located along Highway 111 (±34,360 CPD) Coachella’s main arterial

OVERVIEW

* Point of Destination Location – 73759 Highway 111, a ±4,100 SF retail asset that is 100% leased to high-performing, trade area appropriate tenants * Founded in 1980, Pete Carlson’s Golf & Tennis Shop is the Coachella Valley’s premier and largest selection of golf, tennis, and pickleball gear, offering custom fittings, and professional repair services * Sapporo Ramen & Grill – A relaxed sit-down restaurant and popular bar has operated at this location since 2018 * Below Market Rents – Property-wide, lease rates are on average 18% below current market rates, allowing the in-place rents to be easily replaced, if not improved if a tenant was to roll * Excellent Location – The property is well-located along Highway 111 (±34,360 CPD) Coachella’s main arterial and is immediately proximate to El Paseo, a pedestrian-friendly shopping destination offering over 300 upscale retail shops, restaurants and specialty services * Growing Coachella Valley Demographics – Coachella Valley has recently experienced a resurgence in full-time residents, which has increased +26% in the past decade (far outpacing both state and national averages) * The population in the Coachella Valley is expected to double in the next ten years

FOR SALE DETAILS

PRICE

$1,325,000 USD

PRICE/SF

$323 USD /SF

CAP RATE

6.4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,696 SF

ZONING

C1, Palm Desert

APN/PARCEL ID

627-221-002

ASK ABOUT THIS PROPERTY

Erin SmithCBREMore Info
949-725-8582

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Erin SmithCBREMore Info
949-725-8582

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