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    Bob Hope Dr Rancho Mirage, CA 92270

    For Sale
    $11,250,000

    57 Acres, Mixed-Use Potential, $11.25M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 57.464-acre parcel in Rancho Mirage, California, presents a unique investment opportunity. Located on Bob Hope Drive, with APN 685-010-013 & 673-120-027, the property is zoned under Rancho Mirage's Section 19 Specific Plan. This plan designates five distinct planning areas with diverse permitted uses. One area is specifically envisioned for a resort hotel with up to 280 rooms. The remaining four areas are designated for mixed-use development, allowing for a combination of residential and non-residential uses, with a potential total of up to 329 residential units. The property benefits from its prime location in Rancho Mirage, a prestigious Coachella Valley city, offering excellent accessibility via the I-10 Freeway and major thoroughfares like Bob Hope Drive and Dinah Shore Drive. The area boasts strong demographics, further enhanced by the upcoming Cotino by Disney residential development. Utility services are available, with a power commitment from IID Power for phase one. The property's proximity to Agua Caliente Casino Resort & Spa and a proposed mixed-use development ("Landmark") further enhances its potential. The asking price is $11,250,000. This is a rare chance to acquire a large-scale development site in a thriving location with significant upside potential. The property's strategic location and flexible zoning make it ideal for a variety of ambitious projects.

    Property Features for 0 Bob Hope Dr

    General Information

    Property type
    Land
    Lot Size
    2,503,132 SF

    HighLights

    • Rancho Mirage offers a prestigious Coachella Valley location ideal for development.
    • Excellent accessibility via I‑10 and major thoroughfares like Bob Hope and Dinah Shore Drives.
    • Strong existing demographics, further enhanced by the upcoming 1,700‑home Cotino by Disney development.
    • Electricity service is secured via IID Power commitment for Phase 1.
    • Adjacent to Agua Caliente Casino Resort & Spa, with potential future expansion.
    • Proposed nearby Landmark mixed‑use project includes 75,000 SF retail, 1,500 residential units, and 266,000 SF self‑storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Rancho Mirage
    County
    Riverside
    State
    California
    Longitude
    -116.40445
    Latitude
    33.80799

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    FAQs

    What type of property is this?
    Land - 57 Acres, Mixed-Use Potential, $11.25M
    Where is this land located?
    The property is located at Bob Hope Dr Rancho Mirage, CA.
    What is the asking price?
    The asking price for this property is $11,250,000.
    What are key features of this property?
    This property features: Rancho Mirage offers a prestigious Coachella Valley location ideal for development.; Excellent accessibility via I-10 and major thoroughfares like Bob Hope and Dinah Shore Drives.; Strong existing demographics, further enhanced by the upcoming 1,700-home Cotino by Disney development.
    (862) 345-4015
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    Bob Hope Dr Rancho Mirage, CA 92270
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Bob Hope Dr Rancho Mirage, CA 92270
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