FOR SALE - TWO PALM DESERT OFFICE BUILDINGS - 100% LEASED

Office for Sale
Catylist Listing ID: 30278411
Property Subtypes: Medical, Office Building
Building Size (RSF): 12,731 SF
Gross Building Area: See Agent
Gross Land Area: 1.17 Acres
Sale Price: $2,735,000
Unit Price: $214.83 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/29/2018

Overview / Comments

This property includes two freestanding medical/professional office buildings. The building located at 74020 Alessandro is a two story building containing approximately 9,653 square feet and a total of five (5) tenants and the building at 74050 Alessandro is a one story building that contains approximately 3,078 square feet and two (2) tenants Both buildings are 100% leased with medical and professional tenants. Current medical tenants include Eisenhower Medical Center, Alzheimer's Association California Southland Chapter and Palm Desert Podiatry Center.

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 625-082-037, 625-082-039, 625-082-040, 625-082-042, 625-082-043
Zoning: C-OP
Property Located Between: Highway 111 and Portola
Property Visibility: Excellent
Highway Access: Easy access from Highway 111 via Portola at the corner of Alessandro Drive
Site Description: The site includes the one story office building at 74050 and the two story building at 74020 Alessandro Drive.
Area Description: The property is centrally located in Palm Desert in close proximity to all the shops and restaurants along El Paseo and Highway 111.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1991
Year Renovated: 2016
Construction/Siding: Stucco
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface parking with abundant covered parking.
Total Parking Spaces: 51
Sprinklers: Wet
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Medical and professional offices
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: owned

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,268 43,766 100,769
Median Age: 43.25 52.26 51.92
Households: 6,546 21,159 47,464

Contact

Photograph of Listing Agent

Thomas R Beaty

El Paseo Realty Group
DACIE Member

Sponsoring Organization

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