41865 Boardwalk - Medical FOR SALE


Palm Desert, CA 92211- Outlying Palm Springs
$5,465,000 USD
949-706-2508
41865 Boardwalk, Palm Desert, CA for Sale
$5,465,000 USD
Medical - FOR SALE
1/8
null | 7.5% Cap Rate

41865 Boardwalk
Palm Desert, CA 92211
Outlying Palm Springs


HIGHLIGHTS

  • The Property is currently 81% occupied with ten (10) small vacant suites that are each less than 1,000 rentable square feet and total 7,772 rentable
  • There are no competing small vacancies (under 1,000 rsf) in the entire Palm Desert office market.
  • The average suite size at the Property is 1,052 rentable square feet.
  • The (FSG) asking rental rate at the Property is $1.66/rsf/month (NNN base rental rate of $1.20/rsf/mo plus NNNs of $0.46/rsf/mo.)
  • The Property’s FSG asking rental rate of $1.66/rsf/month is 17% to 27% lower than its direct competitors.
  • Recent capital expenditures include the replacement of the roof membrane in September 2023 and resurfacing of the parking areas in January 2022.

OVERVIEW

Velocity Investment Sales, Inc. has been retained as the exclusive listing broker to sell the fee simple interest in Cook Corporate Center (the “Property”.) The Property is a 41,009 rentable square foot, two-story, class B, multi-tenant office building located at 41865 Boardwalk in the Palm Desert submarket of Coachella Valley. The Property fronts on Cook Street, a major north-south commercial corridor in Palm Desert in close proximity to Highway 111 and Interstate 10 Freeway. The Property is offered at an asking price of $5,465,000 ($133/rsf) based on the in-place Net Operating Income of $409,834 capped at 7.5%.

FOR SALE DETAILS

PRICE

$5,465,000 USD

PRICE/SF

$133 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cook Corporate Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

134

LAND DETAILS

LAND ACRES

2.38 AC

LAND SF

103,673 SF

ZONING

SI

APN/PARCEL ID

632-060-033

ASK ABOUT THIS PROPERTY

Nick BrightonVelocity Investment SalesMore Info
949-706-2508

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Nick BrightonVelocity Investment SalesMore Info
949-706-2508

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.