72310 Ca-111 Palm Desert, CA 92260

Property Details for 72310 Ca-111

Year built

2024

Lot size

0.24 lot acres

Property size

7,400 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 7,400 square foot, single-building retail pad in Palm Desert, California. The property boasts two corporate tenants, T-Mobile and Schools First Federal Credit Union, under long-term NNN leases with built-in 10% rent bumps every five years and three additional five-year options. Located at a high-traffic intersection (90,000 vehicles per day) on Highway 111 and Fred Waring Drive, this property benefits from its proximity to a Walmart-anchored shopping center and other major retailers, including Target, Burlington, Best Buy, Total Wine & More, and the Shops at Palm Desert mall. The property sits on a 0.24-acre lot and features a 5.70% cap rate with a current NOI of $358,410. Built in 2024, the property is zoned for Planned Commercial use and offers a fee simple ownership. The strong tenant base, coupled with the prime location and significant residential growth in the area (over 7,300 new residential units approved or under construction), makes this a compelling investment opportunity with significant potential for appreciation and robust returns. The property's location within a vibrant retail hub, fueled by the annual Coachella Festival and major planned developments like Cotino – Storyliving by Disney and the DSRT Surf Resort, further enhances its long-term prospects. This is a low-maintenance investment with minimal operational responsibilities for the landlord, thanks to the NNN lease structure. The asking price is $6,288,000. APN: 640-110-021.

Location Insight

City

Palm Desert

County

Riverside

State

California

Longitude

-116.402

Latitude

33.7275