Anchored Shopping Center
For Sale
Contact for pricing
73625 Highway 111, Palm Desert, CA 92260
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 Market106
Property Features for 73625 Highway 111
General Information
Standard status
Active
Size
21,783 SF
Property subtype
Retail
Zoning
Downtown (D)
Occupancy
94%
Lease Type
NNN
Net Operating Income
$499,014
Site & Location
Traffic Count
48,500 vehicles/day
Highway Access
Yes
Building Details
Year Built
1952
Tenancy
Multi
Listing Agency:
Voit Real Estate Services Voit Carlsbad
Listed By:
Josh Salik · License #02108109
(760) 472-5553
Source:
Crexi
Added: Jul 7
Changed: Oct 14
Last Checked: Oct 19 at 7:24AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$312,232
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,244,640
$6.2M
Cap Rate 7%
$4,460,457
$4.5M
Cap Rate 9%
$3,469,244
$3.5M
Market Conditions
NOI Build-Up for 21,783 SF
Gross rent
$470.5K $21.60/SF
− Vacancy
−$24.5K −$1.12/SF
EGI
$446.0K $20.48/SF
− OpEx
−$133.8K −$6.14/SF
NOI
$312.2K $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%
$6,244,640
Cap Rate 7%
$4,460,457
Cap Rate 9%
$3,469,244
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 authorities.
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Property Analytics
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Current Use
Lease Details
48,500 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,642
Businesses Nearby
211k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Dining 30%
Apparel 23%
Electronics 7%
Tower Mart
Shops & Services
19,304 visits/mo
0.1 miles
Apple Store
Electronics
15,801 visits/mo
0.2 miles
lululemon athletica
Apparel
15,257 visits/mo
0.3 miles
Starbucks
Dining
13,436 visits/mo
0.2 miles
Blaze Pizza
Dining
11,051 visits/mo
0.3 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- The Gardens on El Paseo — 73375 El Paseo Ste J, Palm Desert, CA 92260
- Parking Ramp — Palm Desert, CA 92260
- The Shops on El Paseo — 73-061 El Paseo, Palm Desert, CA 92260
- El Paseo Square — CA-1, Palm Desert, CA 92260
- Sunglass Hut — 73545 El Paseo Space F1618, Palm Desert, CA 92260
Frequently Asked Questions
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
