Anchored Shopping Center
73625 Highway 111 Palm Desert, CA 92260
73625 Highway 111, Palm Desert, CA, 92260
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For Sale
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Shopping center anchored by Keedy's Diner, with multiple smaller tenants in place along Highway 111.
Property Size21,783 SF
Price / SF$319.06
Days on Market15
Property Features for 73625 Highway 111
General Information
- Standard status
- Active
- Size
- 21,783 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1952
Listing Agency
Voit Real Estate Services Voit Carlsbad
(858) 458-3348
Listed by
Josh Salik · License #02108109
Source
Crexi
Added: Jul 7 Updated: Jul 20 at 4:54 pm Checked: Jul 20 at 4:54 pm
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 Voit Real Estate Services Voit Carlsbad
Investment Insights
Based on property information with market context.
Fountain Plaza is a shopping center anchored by Keedy's Diner, which occupies 18% of the total GLA. Keedy's has been in continuous operation since 1957 and is described in the offering materials as a longstanding community fixture. The remaining tenant spaces are described as relatively compact, each occupying between 550 and 1,600 square feet, creating a diversified tenant mix.
The property is located at 73625 Highway 111 in Palm Desert, within the area’s primary retail corridor that includes El Paseo and Highway 111. The offering notes average daily traffic counts exceeding 48,500 vehicles on Highway 111.
Fountain Plaza is presented as a stabilized, historically significant asset within the Palm Desert retail core, offering ownership a current rent roll supported by the anchor tenant and a range of smaller tenant configurations.
The property is located at 73625 Highway 111 in Palm Desert, within the area’s primary retail corridor that includes El Paseo and Highway 111. The offering notes average daily traffic counts exceeding 48,500 vehicles on Highway 111.
Fountain Plaza is presented as a stabilized, historically significant asset within the Palm Desert retail core, offering ownership a current rent roll supported by the anchor tenant and a range of smaller tenant configurations.
Key Highlights
- Fountain Plaza shopping center in Palm Desert anchored by Keedy's Diner
- Keedy's Diner occupies 18% of the total GLA
- Keedy's Diner has been in continuous operation since 1957
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $470.5k | $21.60 |
| − Vacancy | −$24.5k | −$1.12 |
| EGI | $446.0k | $20.48 |
| − OpEx | −$133.8k | −$6.14 |
| NOI | $312.2k | $14.33 |
21,783 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.46M
$3.90M – $5.20M
NOI $312,232 @ 7.0% cap · market cap 4.49%
Second Best
Specialty Retail
$3.92M
$3.43M – $4.58M
NOI $274,662 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$6.53M
$5.71M – $7.61M
NOI $456,807 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- El Paseo Square — CA-1, Palm Desert, CA 92260
- Sunglass Hut — 73545 El Paseo Space F1618, Palm Desert, CA 92260
- The Gardens on El Paseo — 73375 El Paseo Ste J, Palm Desert, CA 92260
- The Shops on El Paseo — 73-061 El Paseo, Palm Desert, CA 92260
- Parking Ramp — Palm Desert, CA 92260
FAQs
What type of property is this?
Shopping center - Shopping center anchored by Keedy's Diner, with multiple smaller tenants in place along Highway 111.
Where is this shopping center located?
The property is located at 73625 Highway 111 Palm Desert, CA.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Fountain Plaza shopping center in Palm Desert anchored by Keedy's Diner; Keedy's Diner occupies 18% of the total GLA; Keedy's Diner has been in continuous operation since 1957
