Single-Tenant Palm Springs, CA Area RE-TENANT/VALUE-ADD · Palm Springs-Palm Desert’s primary...
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Single-Tenant Palm Springs, CA Area RE-TENANT/VALUE-ADD FOR SALE ASKING PRICE: $3,495,000 BUILDING SIZE: ±16,929 SF* LOT SIZE: ±71,438 SF (1.64 Acres)* PROPERTY TYPE: Retail - Single Tenant YEAR BUILT: 2000 VALUE-ADD INVESTMENT, REPOSITION OR OWNER-USER OPPORTUNITY: § Corner location – NEC anchor position within the adjoining retail center (shops and KFC, NAP) § In-place income giving flexibility for near-term lease alternatives – great Value-add potential § Existing freestanding building (Rite-Aid) with 2 drive-thru lanes, parking, visibility TERM: Repositioning Opportunity (Rite Aid lease through May 2021) CURRENT NOI: $322,560 - Through 5/31/2020 $120,000 - 6/1/2020 – 5/31/2021 † APN: 607-130-012 ZONING: C-P-S (Riverside County)* * Per Public Record ngkf.com DAVID C. LACHOFF \ EXECUTIVE MANAGING DIRECTOR 310.407.6572 \ [email protected] CA RE Lic. #00322957 KEVIN LACHOFF \ DIRECTOR 310.407.6580 \ [email protected] CA RE Lic. #01481846 Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal. † Pending Extension
Transcript of Single-Tenant Palm Springs, CA Area RE-TENANT/VALUE-ADD · Palm Springs-Palm Desert’s primary...
Single-Tenant Palm Springs, CA Area RE-TENANT/VALUE-ADD
F O R S A L E
ASKING PRICE: $3,495,000
BUILDING SIZE: ±16,929 SF*
LOT SIZE: ±71,438 SF (1.64 Acres)*
PROPERTY TYPE: Retail - Single Tenant
YEAR BUILT:2000
VALUE-ADD INVESTMENT, REPOSITION OR OWNER-USER
OPPORTUNITY:
§ Corner location – NEC anchor position within the adjoining retail center
(shops and KFC, NAP)
§ In-place income giving flexibility for near-term lease alternatives – great
Value-add potential
§ Existing freestanding building (Rite-Aid) with 2 drive-thru lanes, parking, visibility
TERM: Repositioning Opportunity
(Rite Aid lease through May 2021)
CURRENT NOI: $322,560 - Through 5/31/2020
$120,000 - 6/1/2020 – 5/31/2021†
APN: 607-130-012
ZONING: C-P-S (Riverside County)*
* Per Public Record
OFFERING SUMMARY
ngkf.com
DAVID C. LACHOFF \ EXECUTIVE MANAGING DIRECTOR310.407.6572 \ [email protected]
CA RE Lic. #00322957
KEVIN LACHOFF \ DIRECTOR310.407.6580 \ [email protected] CA RE Lic. #01481846
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
† Pending Extension
WASHINGTON STAVE 42
Fuel Center
PALM DESERT
Single-Tenant Palm Springs, CA Area RE-TENANT/VALUE-ADD
F O R S A L E
BERMUDA DUNES COMMUNITY - PALM SPRINGS – PALM DESERT
MARKET, COACHELLA VALLEY:
§ Dominant area retail location – Ralph’s Supermarket anchored center across the
street, Albertson’s anchored shopping center across intersection
§ Busy signalized intersection Washington Street at Avenue 42, +45,000 Cars Per Day
§ Washington Street provides direct on-ramp/off-ramp access to the 10 Freeway, connects to Highway 111,
Palm Springs-Palm Desert’s primary corridor.
§ Ave. 42 / Hovley Lane is an arterial from Palm Desert through Bermuda Dunes community / Coachella Valley
ngkf.com
DAVID C. LACHOFF \ EXECUTIVE MANAGING DIRECTOR310.407.6572 \ [email protected]
CA RE Lic. #00322957
KEVIN LACHOFF \ DIRECTOR310.407.6580 \ [email protected] CA RE Lic. #01481846
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
