Patios Plus Building

Retail-Commercial for Sale
Catylist Listing ID: 30600945
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 6,720 SF
Gross Land Area: 0.18 Acres
Sale Price: $2,245,000
Unit Price: $334.08 PSF
Ceiling: 18 ft.
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Usable Size (USF): 6,720 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing
Cap Rate: 7.18%
Last Updated: 6/21/2020

Overview / Comments

Free standing building on Highway 111 directly across the street from the Super Walmart Shopping Center and just down the street from the Costco, Home Depot, Loews, and Super Target shopping Centers. Incredible Highway 111 presence as the building is only about 25 feet off Highway 111 with great signage exposure in the heart of the La Quinta shopping area. Lots of high glass store front windows facing Highway 111 and high glass store front windows facing onto the interior of the La Quinta Valley Plaza Shopping Center which this building is part of. High ceilings (18 Feet), recessed lighting, roll-up door, 254 parking spaces, and seven air conditioners. The building is located on the north side of Highway 111 between Adams Street and Dune Palms Road.

Current Tenants

Tenant Business Name Shadow Rock Church
Is Renting? Yes
SF of Space Occupied 6,720 SF
Current Rent $22 PSF (Annual)
Lease Expiration 6/2020
Tenant Notes Tenant is building their own space and may stay July and August 2020 but they will move with a 21 day notice to vacate.

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 600-390-001
Zoning: CR
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Adams Street and Dune Palms Road
Property Visibility: Excellent
Largest Nearby Street: Dune Palms road
Feet of Frontage: 104
Site Description: Free standing building with 104 feet of frontage on Highway 111 directly across the street from the Super Walmart Shopping Center and down the street from the Costco, Loews, and Home Depot Shopping Centers
Area Description: Main central shopping center with big box stores, restaurants, car dealerships and every other retail store for the Cities of La Quinta, Indian Wells, Indio and surrounding cities.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2005
Roof Type: Flat
Exterior Description: Stucco appearance with high glass windows facing Highway 111 and high glass windows facing the interior of the shopping center.
Total Parking Spaces: 254
Parking Type: Surface
Parking Description: This is a free standing building and part of a shopping center sharing 254 parking spaces.
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System, Package Unit
Internet Access: Cable
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee/owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,849 86,841 161,198
Median Age: 45.64 39.5 39.18
Households: 2,364 31,838 57,671

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