73951-73995 El Paseo - Storefront FOR SALE


Palm Desert, CA 92260- South Palm Desert
$7,500,000 USD
760-541-4800
73951-73995 El Paseo, Palm Desert, CA for Sale
$7,500,000 USD
Storefront - FOR SALE
1/25
null | 7.8% Cap Rate

73951-73995 El Paseo
Palm Desert, CA 92260
South Palm Desert


HIGHLIGHTS

  • on Famous El Paseo , and Portola, most traffic on El Paseo.One APN with 4 lots , plenty of space to build additional ,parking lot in the back .

OVERVIEW

prime real estate corner-El Paseo and Portola-property consists of ex. Roberge Jewelers at 73995 El Paseo dr. PD CA 92260 and Mitch's restaurant at 73951 El Paseo dr. PD CA 92260. Total sq.ft of the property varies from one source to another and ranges from 23000 sq. ft to 26000 sq.ft . Property has 2 residential units on the top of the Roberge Jewelers building -toward the parking lot in the back and they are listed separately for rent -call LA for more info and showing.Ex-Roberge Jewelers building -approximatelt 11475 sq. ft -1st level -and 232 sq.ft cat walk-is also available for lease as a whole or can be partitioned into smaller units.-call LA for showings or more info! Mitch's restaurant is currently under lease contract and upon accepted offer ,info on the lease will be provided. There are a total of 4 lots with one APN number. A gallery , a jewelery store , an antiques store, a consignment store are just a few of the suggestions that can go inthe ex-Roberge Jewelerers building and going rate is approximately $3 to $4 NNN.Currently not rented as the owner may suggest and desire own use!CAP rate is pro forma and based on renting the Roberge Jewelers portion of property! for any inquiries call Slav at (760)-408-4824 cell Developer`s beware! Property can also be developed and the previous owner had plans submitted for approval with the city of Palm Desert, but the application has expired since then . A project that is up to 4 story high or 55 feet high, whichever is higher, can be built and potentially approved there but it is a matter of approval and building permits, so any prospect should check with the city of Palm Desert! Submitting of documents only after a successful acceptance of price and terms on an LOI or offer!

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$313 USD /SF

CAP RATE

7.8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.61 AC

LAND SF

70,132 SF

ZONING

C1, Palm Desert

APN/PARCEL ID

627-272-005

ASK ABOUT THIS PROPERTY

Selina OchoaWindermere Real EstateMore Info
760-541-4800

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Selina OchoaWindermere Real EstateMore Info
760-541-4800

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