78982 Highway 111 - Freestanding FOR SALE


La Quinta, CA 92253
$5,745,000 USD
949-547-2213
78982 Highway 111, La Quinta, CA for Sale
$5,745,000 USD
Freestanding - FOR SALE
1/11
null | 5.75% Cap Rate

78982 Highway 111
La Quinta, CA 92253


HIGHLIGHTS

  • Scheduled Rental Increases | Strong Tenant Lineup | Net Leases |
  • Outparcel to One Eleven La Quinta Center | 6M+ Visitors Annually |Dense Retail Corridor | Kohls Anchor - Top 97th Percentile (Placer)
  • Two Signalized, Hard Corner Intersections | Centralized Location |La Quinta Tennis Gardens (493,000 Visitors) | BNP Paribas Open
  • Strong Demographics in 5-Mile Trade Area | Affluent Incomes
  • 40-Mile CV Link Pathway | Estimated $1.47B in Economic Impact

OVERVIEW

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 3-tenant, freestanding pad located in La Quinta, CA (Coachella Valley MSA). The property is positioned on a 1.32-acre parcel and is comprised of 3 suites totaling 10,500 SF. In addition, the tenant lineup is comprised of a diverse mix of ecommerce resistant tenants and includes Mattress Firm, AT&T, and Brother’s Nails & Lashes. Brother’s Nails and Lashes recently signed a brand new 10-year lease bringing the properties’ weighted average lease term remaining (WALT) to 8.4 years, demonstrating their long-term commitment to the trade area and reducing the risk of near-term rollover. All leases are structured as net leases and feature scheduled rent increases, minimizing expense leakage for a future investor and providing a hedge against inflation.

FOR SALE DETAILS

PRICE

$5,745,000 USD

PRICE/SF

$454 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mattress Firm Pad

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

CR

APN/PARCEL ID

643-080-047

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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