72104 Corporate Way Thousand Palms, CA 92276-3324
- Manufacturing properties
- 12,125 SF
- 0.69 lot acres
Current Use by Public Records
- Flood Response Restoration Services / Water Damage Restoration Service / Building Restoration Service
Property Details for 72104 Corporate Way
- Year built
- 1990
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.69 lot acres
- Property size
- 12,125 SF
- Zone code
- IP
- Property type
- Manufacturing properties
- APN
- 650-080-017
- APU
- 650080017
Description
This fully leased, 11,650-square-foot industrial building in Thousand Palms, CA (92276), presents a compelling investment opportunity. Situated at 72104 Corporate Way, this single-tenant property boasts a strong 6-year net lease (commencing August 10, 2023, and expiring July 31, 2029), offering a remaining lease term of approximately 4.7 years. The property features a remodeled office space including a showroom/reception area, four private offices, a large bullpen, open workspace, kitchenette, and two restrooms. The warehouse component includes six insulated panel doors, an 18-foot clear height ceiling, 400-amp 3-phase power, and a secured yard. The building, constructed in 1991, is a two-story structure zoned M-SC. The current annual rent includes a 3.5% annual increase. The asking price is $2,295,000, representing a current NOI of $138,122 and a cap rate of 6.02%. The property is currently 100% occupied. This is a rare opportunity to acquire a well-maintained, high-performing industrial asset with a long-term lease in place.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,660,000
- 6.5%
- $1,530,000
- 7%
- $1,420,000
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Location Insight
- Map
- Local Demand
- City
- Thousand Palms
- County
- Riverside
- State
- California
- Longitude
- -116.403
- Latitude
- 33.8234
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
