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Property profile & analytics
FOR LEASE
Retail space
73940 El Paseo Palm Desert, CA 92260
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-3315768
For Lease
1 / 4
$1,285,000
73940 El Paseo, Palm Desert, CA 92260
View Listing →
Property summary
AI-generated overview
This exceptional 4,971-square-foot freestanding retail/office building is situated in the heart of Palm Desert's El Paseo shopping, dining, and entertainment district. Located at 73940 El Paseo, between San Luis Rey Avenue and Portola Avenue (APN 627-222-028), this Class B property boasts unparalleled visibility with extensive street frontage and floor-to-ceiling display windows. Built in 1972 on a 0.24-acre lot, the single-story building offers an open floor plan ideal for a variety of uses, including retail, restaurants, or offices. Ample on-street parking is available, along with convenient private rear parking. Its prime location within walking distance of high-end retailers, restaurants, and hotels makes this a truly unique investment opportunity in the coveted Coachella Valley's El Paseo Corridor submarket. The property features a single tenancy and is easily accessible. This meticulously maintained building presents an exceptional chance to establish a presence in one of Southern California's most desirable commercial areas.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1973
Construction
WOOD
Total area
5,000 SF
Lot
0.23 ac (10,018 SF)
Zoning code
C1SP
APN
627-222-028
UPID
US09-3315768
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
That Gallery Hotel & Motel Resort
-
Goldfield Home & Art Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
$1.11M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.29M
Owner & transaction history
73940 El Paseo LLC
73940 El Paseo LLC
since 2025
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
C1SP · Palm Desert, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+0.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Palm Desert submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Desert submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,160,000
ML approach
$1,175,000
CAP Approach
CAP Return
Estimation
6%
$1,195,000
6.5%
$1,105,000
7%
$1,025,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,885,000
Current use
OFFICE BUILDING
$1,890,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$1.29M
Range $1.16M – $1.41M · ±10% · vs last sale $1.50M (Jun 16 2025)
Last sale anchor
$1.50M
Jun 16 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$257 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$22,331
Tax year 2024
Assessed value
$1,273,449
Assessed 2024
Previous assessed
$1,273,449
+0.0% YoY
Effective rate
1.75%
On assessed value
Assessed land
$424,483
Assessed improvement
$848,966
Applied tax rate
18.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1973
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
5,000 SF
Lot
0.23 ac (10,018 SF)
Zoning code
C1SP
APN
627-222-028
UPID
US09-3315768
Jurisdiction
RIVERSIDE
Zoning & alternative use
C1SP · Palm Desert, CA
Zoning C1SP · permitted uses
C1SP · Palm Desert, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Desert. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
RETAIL STORES Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
73940 El Paseo LLC
Entity
Mailing address
12721 SATICOY ST S, N HOLLYWOOD, CA 91605-3522
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2025
$1,500,000
73940 El Paseo LLC
Sktk Investment Partners LLC
Grant Deed
$900,000 · Murk Investments Corp
Feb 26, 2021
$1,200,000
Sktk Investment Partners LLC
Steven Thomas Schmid
Grant Deed
—
Feb 26, 2021
—
Richard Kitagawa
Richard Renfro Bell
Intrafamily Transfer
related
—
May 3, 2007
—
Schmid Living Trust
Schmid,steven T & Janice A
Quit Claim Deed
related
—
Sep 24, 1999
—
Steven T Etal Schmid
Schmid,janice A Etal
Quit Claim Deed
related
—
May 23, 1991
$840,000
Interstate Excha
Stanley B Rose C
Trustees Deed
—
May 23, 1991
—
Schmid,janice A
Interstate Excha
Trustees Deed
$360,000 · Individual
—
—
Steven T Schmid
—
Deed Of Trust
related
$310,000 · La Jolla Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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