1800 E. Tahquitz Canyon Way, Palm Springs

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30514230
Property Subtypes: Net Leased, Office Building
Status: Pending/Contingent
Building Size (RSF): 10,400 SF
Gross Building Area: See Agent
Sale Price: $3,350,000
Unit Price: $322.12 PSF
Property Use Type: Net Leased Investment (NNN)
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 5.91%
Average Occupancy Rate: 100
Last Updated: 3/9/2021

Overview / Comments

Unique, exciting investment opportunity in thriving Palm Springs commercial real estate market. Trophy 10,400 SF office building centrally located between downtown and the airport in a professional corridor dominated by law, medical, accountancy, and real estate offices. Current tenant, a full-service law firm, has occupied the space since 2005, enjoying proximity to the Palm Springs Courthouse. The lease to 2024 has 3% annual rent increases. Attractive desert-sensitive landscaping creates great curb appeal. Tenants have expressed a desire to extend the lease further.

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Taxing Authority: Riverside County
Tax ID/APN: 502-064-012
Zoning: C-1
Property Located Between: Downtown and Palm Springs International Airport
Property Visibility: Excellent
Highway Access: Hwy 111 about 1 mile to the west.
Airports: Palm Springs International Airport
Site Description: Flat commercial lot on the north side of Tahquitz Canyon Rd.
Area Description: Professional corridor with law, medical, accountancy and real estate offices.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 10,400 SF
Year Built: 1992
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface, Underground
Parking Description: 50 covered parking spaces with elevator access to offices
Total Parking Spaces: 50
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: Commercial, C-1 Palm Springs
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,798 46,354 96,196
Median Age: 50.91 49.24 43.21
Households: 6,329 22,698 39,872


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