Palm Desert Retail on
For Sale
$5,967,000
72261 Highway 111, Palm Desert, CA 92260
Retail space on major Coachella Valley thoroughfare, CA Hwy 111.
Property Size19,123 SF
Price / SF$312.03
Days on Market227
Property Features for 72261 Highway 111
General Information
Standard status
Active
Size
19,123 SF
Building Details
Year Built
1986
Listing Agency:
Synergy Real Estate
Listed By:
Richard Park · License #01303893
(949) 892-0822
Source:
Myfabuloushome
Added: Mar 5
Changed: Oct 15
Last Checked: Oct 7 at 1:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Synergy Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail space is located on a major thoroughfare, California Highway 111, throughout the Coachella Valley. It is situated within a daily needs center in the retail epicenter of the Coachella Valley, surrounded by a variety of boutiques, thrift stores, and major retailers. The property is located in the heart of Palm Desert, a hub for shopping, dining, and entertainment. Highway 111 is home to many of Palm Desert’s major retailers, including Target, Saks Off Fifth, Bed Bath and Beyond, Marshall’s, TJ Maxx, and Nordstrom Rack. Monterey Avenue, another popular thoroughfare, features shopping plazas and major retailers like Walmart, Sam’s Club, and Lowe’s. The location is considered affluent and is near country clubs, set against the backdrop of the San Jacinto Mountains. The Coachella Valley features over 150 golf courses, and home prices in the area range from $1 million to $40 million. The property size is 19123 square feet.
Key Highlights
- Prime street front retail location on CA Hwy 111, a major thoroughfare in Coachella Valley.
- Located in a daily needs center within a retail epicenter.
- Hub location for shopping, dining, and entertainment in Palm Desert.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$274,104
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,482,080
$5.5M
Cap Rate 7%
$3,915,771
$3.9M
Cap Rate 9%
$3,045,600
$3.0M
Market Conditions
NOI Build-Up for 19,123 SF
Gross rent
$413.1K $21.60/SF
− Vacancy
−$21.5K −$1.12/SF
EGI
$391.6K $20.48/SF
− OpEx
−$117.5K −$6.14/SF
NOI
$274.1K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,482,080
Cap Rate 7%
$3,915,771
Cap Rate 9%
$3,045,600
Alternative Uses
Best Use
Retail
$3.92M
$3.43M – $4.57M
NOI $274,104 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.73M
$5.01M – $6.68M
NOI $401,025 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
625k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 31%
Groceries 22%
Superstores 16%
Dining 12%
Target
Superstores
101,741 visits/mo
0.3 miles
Macy's
Apparel
88,628 visits/mo
0.4 miles
Whole Foods Market
Groceries
41,499 visits/mo
0.2 miles
Walmart Neighborhood Market
Groceries
37,106 visits/mo
0.1 miles
Nordstrom Rack
Apparel
33,418 visits/mo
0.2 miles
Demographics for 92260, CA
31,641
Population
21,659
Households
1.5
Avg Household Size
57
Median Age
38%
College-Educated
92%
High-School Grad
31.3 sq mi
ZIP Area
1,011
Density / Sq Mi
$72,252
Median Household Income
$41,810
Median Earnings
$1,654
Median Rent
$463,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Retail space on major Coachella Valley thoroughfare, CA Hwy 111.
Where is this retail space located?
The property is located at 72261 Highway 111 Palm Desert, CA.
What is the asking price?
The asking price for this property is $5,967,000.
What are key features of this property?
This property features: Prime street front retail location on CA Hwy 111, a major thoroughfare in Coachella Valley.; Located in a daily needs center within a retail epicenter.; Hub location for shopping, dining, and entertainment in Palm Desert.
