74090 El PaseoPalm Desert, CA 92260

Property Details for 74090 El Paseo

Year built

1978

Construction

WOOD

Lot size

0.36 AC

Property size (Sq ft)

12,822 SF

Zone code

C1

Property type

Office properties

Property subtype

Office buildings

APN

625-111-028

APU

625111028

Description

This exceptional two-story, 12,870 square foot multi-tenant office building is ideally situated in Palm Desert, California, at the intersection of Highway 111 and El Paseo Drive, the heart of the renowned El Paseo Shopping District. Boasting a prime location with high traffic volume (approximately 30,000 cars daily), this Class C property offers abundant parking and frontage on both major thoroughfares. Built in 1978, the building features an elevator and sits on a nearly one-acre lot (0.87 acres, 37,897 square feet), with the APN numbers 625-111-017, 025, 028. Currently 80% occupied, the building is zoned for Downtown District use, permitting mixed-use and multi-story projects. The asking price is $4,153,000 ($325 per square foot) with a NNN lease type. Its versatile design suits various professional uses, including executive, medical, and creative offices, making it an attractive investment opportunity. The property's proximity to upscale shopping, dining, and entertainment venues (including Saks Fifth Avenue, Mastro's, Apple, Gucci, Louis Vuitton, and Il Corso) further enhances its appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $3,524,004

  6.5%

  $3,252,927

  7%

  $3,020,575

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,249,267

  Geo Method

  $4,512,960

• Alternative Use

  Use

  Valuation

  Residential

  $4,033,629

  Hospitality

  $3,694,783

  Educational

  $3,074,016

  Medical

  $3,179,736

  Retail

  $4,781,802

Location Insight

City

Palm Desert

County

Riverside

State

California

Latitude

33.7203

Longitude

-116.372

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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