Painters Path Commercial Center | 72171 Highway 111
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Painters Path Commercial Center 72171 Highway 111
19,101 SF 100% Leased Retail Building Palm Desert, CA 92260 $4,636,000 ($243/SF) 6.50% Cap Rate
Investment Highlights
- Excellent exposure to extremely high volume traffic count on Highway 111 at a signalized intersection
- 100% leased and completely renovated in 2021
- In the Retail Center of Palm Desert surrounded by national credit tenants
Executive Summary
Prime investment property 100% leased with excellent exposure on Highway 111 in Palm Desert at the signalized intersection of Painters Path. A two story professional retail/office building with elevator built in 1988 and completely renovated in 2021. It is located in the center of Palm Desert's retail shopping, dining and financial district. Very strong Retail Trade area. Major tenants in the area include Walmart, Target, Whole Foods, Nordstrom Rack, Starbucks, PGA Superstore, Trader Joes, Best Buy, Ross, TJ Maxx, Marshals, Homegoods, Marriott Springhill Suites Hotel, US Bank, Chase Bank, In N Out Burger, Wells Fargo,, Big Five, Hobby Lobby, and many more...
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
19,101 SF
Building Class
B
Year Built/Renovated
1988/2021
Price
$4,636,000
Price Per SF
$243
Cap Rate
6.50%
NOI
$301,342
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.37
Lot Size
1.18 AC
Zoning
PC (2) - PLANNED COMMERCIAL
Parking
3.35 Spaces per 1,000 SF Leased
Frontage
172 FT on 72171 Highway 111
Amenities
- 24 Hour Access
- Corner Lot
- Signage
- Signalized Intersection
- Skylights
- Tenant Controlled HVAC
- Accent Lighting
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 640-020-024 | Improvements Assessment | $1,352,520 |
| Land Assessment | $832,320 | Total Assessment | $2,184,840 |
PROPERTY TAXES
Parcel Number
640-020-024
Land Assessment
$832,320
Improvements Assessment
$1,352,520
Total Assessment
$2,184,840
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Presented by
Midwest Pacific Investment Company
Painters Path Commercial Center | 72171 Highway 111
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