73940 EL PASEO BUILDING
Retail-Commercial
for Sale
| Catylist Listing ID: |
30452426 |
| Property Subtypes: |
Free-Standing Building, Street Retail
|
| Building Size (RSF): |
4,971 SF
|
| Gross Building Area: |
5,500 SF |
| Gross Land Area: |
10,242 SF
|
| Sale Price: |
$1,500,000 |
| Unit Price: |
$301.75 PSF |
| Ceiling: |
10 ft. |
| Property Use Type: |
Investment, Vacant/Owner-User, Business |
| Usable Size (USF): |
4,971 SF |
| Sale Terms: |
Cash to Seller, Purchase Money Mortgage |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/21/2020 |
Overview / Comments
Single story retail building located on El Paseo between Portola Avenue and San Luis Rey suitable for all forms of retail. Currently the Premises show as a large showroom space with a built out section for storage and supplies plus one office; there are two bathrooms. Approximately 50 feet of glass store front for great visibility on El Paseo. There is street parking on El Paseo and a rear parking lot with parking for over 100 cars; several business operate off the rear
parking lot which brings lots of traffic to the rear of the Premises.
The Premises can be broken up into two spaces each with their own bathroom and air conditioning systems, the Premises can be used for office space.
THE CITY OF PALM DESERT HAS DESIGNATED PROPERTY ON EL PASEO TO BE MIXED USE AND IS NOW ALLOWING THREE STORY BUILDINGS.
The property is currently 100% leased at bargain rents and the Lease can be terminated with a 120 day notice.
|
Current Tenants
| Tenant Business Name |
Elite Consginments |
| Is Renting? |
Yes |
| SF of Space Occupied |
5,000 SF |
| Tenant Notes |
Tenant Lease goes to August 31, 2022, and both Lessor and Lessee can cancel this lease by giving the other Party a "120 Notice to Vacate". |
Additional Details
| Nearest MSA: |
Riverside-San Bernardino-Ontario |
| County: |
Riverside |
| Tax ID/APN: |
627-222-028 |
| Zoning: |
C1SP |
| Property Located Between: |
PORTOLA AND SAN LUIS REY |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
PORTOLA |
| Feet of Frontage: |
50 |
| Tenancy: |
Single Tenant |
| Property Condition: |
Average |
| Year Built: |
1972 |
| Year Renovated: |
1995 |
| Roof Type: |
Flat |
| Construction/Siding: |
Stucco |
| Total Parking Spaces: |
100 |
| Parking Type: |
Surface |
| Parking Description: |
Parking is available on El Paseo and there is a arear parking lot with over 100 parking spaces |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Central, Heat Pump |
| Air Conditioning: |
Package Unit |
| Internet Access: |
Cable |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Owned |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
12,506 |
41,062 |
98,298 |
| Median Age: |
43.34 |
51.25 |
51.85 |
| Households: |
5,286 |
19,620 |
46,297 |
Sponsoring Organization
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