641113003 Palm Dr Desert Hot Springs, CA 92240

Property Details for 641113003 Palm Dr

Lot size

0.33 lot acres

Property type

Land

Description

This exceptional investment opportunity encompasses two contiguous parcels totaling 0.33 acres (14,375 square feet) on Palm Drive in Desert Hot Springs, CA, zip code 92240. The property boasts 100 feet of street frontage and is ideally situated in a thriving retail hub experiencing significant growth, with over 24,000 vehicles passing daily. The land is zoned Mixed-Use Corridor (MU-C), allowing for a variety of commercial and residential uses, with a maximum residential density of 30 units per acre and a maximum non-residential intensity of 1.50 FAR. Ground floor commercial retail is the preferred use. Utilities are conveniently located in the street. This location benefits from regional accessibility via I-10 freeway and strong demographics. The property is designated as an Opportunity Zone, offering potential tax advantages. APN numbers are 641-113-002 and 641-113-003. Individual lot sizes are 0.17 acres (7,405 sq ft) and 0.16 acres (6,970 sq ft). The area is experiencing a surge in development, including a large Amazon distribution center, logistics centers, residential communities, and new commercial facilities. This presents a unique chance to capitalize on Desert Hot Springs' rapid expansion and its designation as a burgeoning health and wellness destination. The asking price is $190,000. This is a fee simple ownership.