73338 Highway 111 Palm Desert, CA $ 3,850,000
73338 Highway 111
$ 3,850,000
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73338 Highway 111

Palm Desert, CA, 92260
$ 3,850,000
Baths0.0 Sq 5,582

Monthly Estimate*

$ 26,893

Listed by Segovia Real Estate Group
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Studio

Commercial Property for sale in Palm Desert, CA

for $3,850,000. This 5,582 square foot building was built in 2021 on a lot size of 0.19.

Introducing an extraordinary investment opportunity nestled on the prestigious Rodeo Drive of the Desert, 73338 Highway 111 in Palm Desert, CA. This commercial gem, renovated in 2021, offers a total of 7 units spanning 5,582 square feet, along with a newly minted 3,470 square foot high-end private club exclusively tailored for elite members. The property enjoys a privileged location, at full capacity, this property is generating over $20,000 per month in rent, amidst an exquisitely affluent community renowned for its opulence. Other units provide flexibility for owner-occupiers or savvy investors seeking rental income. With its prime position on Highway 111, the property ensures excellent visibility and accessibility for both customers and tenants, making it an ideal hub for businesses to attract clientele and expand operations. Furthermore, with Disney “Cotino” embarking on a monumental 618-acre resort project just 4 miles away and the vibrant Coachella festival grounds a mere 5 miles away, this locale pulsates with unparalleled energy and potential. Indian Wells Golf Course lies a mere 2 miles distant, adding to the allure of this prime location. Impeccably positioned for success, this property promises a lucrative venture for discerning investors seeking to capitalize on the thriving commercial landscape of Palm Desert. Don't miss this exceptional opportunity to acquire a highly sought-after commercial real estate asset. Schedule a viewing today to seize this extraordinary investment opportunity.

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Commercial Active

Price

$ 3,850,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

Retail

Lot Size

0.19

Year Built

2021

Town/City

Palm Desert

County/Region

Riverside

MLS | Web ID

SR24072286

Days on Market

33

Features
General
Heating Combination Central None
Cooling CentralAir
Utilities CableAvailable CableConnected ElectricityAvailable ElectricityConnected NaturalGasConnected Propane PhoneAvailable PhoneConnected SewerAvailable SewerConnected UndergroundUtilities WaterAvailable Wat
Security Features SecuritySystem ClosedCircuitCameras CarbonMonoxideDetectors FireDetectionSystem FireSprinklerSystem KeyCardEntry SmokeDetectors SecurityLights
Construction Materials AluminumSiding BrickVeneer Block CementSiding Glass MetalSiding Concrete Plaster Stone WoodSiding
Year Built 2021
Property SubType Retail
Business Type Accounting Advertising BarTavernLounge Mixed MultiTenant ProfessionalOffice Other StripMall SpecialUse
County Riverside
Insurance Expense 4200.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Heading east on CA-111 take a left turn onto San Marcos Ave then make a right onto Palm Desert Drive.
City Palm Desert
View Y/N N
Senior Community Y/N N
Total Units 7
MLS Area 323 - South Palm Desert
Lot Size Square Feet 8276.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 7
Street Name Highway 111
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Water Sewer Expense 3800.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 0
Building Area Units SquareFeet
Standard Status Active
Occupancy Description Tenant
Property Sub Type Additional Retail
Expected Active Date 2024-04-14
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Exterior
Fencing Block Brick ExcellentCondition
Lot Features Item610UnitsAcre
Water Source Public
Lot Size Area 8276.0
Number of Buildings 1
Spa N
Building Area Total 5582.0
Lot Size Acres 0.19
Lot Size Units SquareFeet
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 1
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N N
Fireplace Y/N N
Laundry Features None
Entry Level 1
Electric On Property Y/N N
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Internal Only
Street Number 1 73338
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* Excluded Features
List By
Segovia Real Estate Group

Broker

(818) 668-8768

Phone

Affordability Calculator

$26,893
Per Month
100%
0%
0%
Monthly Principal & Interest
$26,893
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/14/2024$3,850,000 Listed Price

Map


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73338 Highway 111, Palm Desert, CA, 92260 is a Commercial Property for sale at $3,850,000 with 5,582 sqft and a lot size of 0.19. 73338 Highway 111 is a studio with 0.0 baths and was built in 2021. The property's zip code is 92260 which is in Palm Desert, CA