72314 Highway 111 - Freestanding FOR SALE


Palm Desert, CA 92260- Outlying Palm Springs
$17,118,000 USD
312-957-7212
72314 Highway 111, Palm Desert, CA for Sale
$17,118,000 USD
Freestanding - FOR SALE
1/5
null | 4.4% Cap Rate

72314 Highway 111
Palm Desert, CA 92260
Outlying Palm Springs


HIGHLIGHTS

  • Early 10 Year Lease Extension with Tenant Remodel
  • Long-Term Occupancy
  • Rare & Attractive Rent Increases
  • Minimal Management Responsibilities
  • Dynamic Tenant
  • Below Market Rent

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a Walmart Neighborhood Market located at 72314 CA Highway 111 in Palm Desert, California (the “Property”). The free-standing single tenant Walmart Neighborhood Market consists of a 45,648 square foot building on a 5.37-acre parcel of land. Walmart Neighborhood Market has been at this location since 2012 and recently extended their lease demonstrating their commitment to the site and the market. Walmart Neighborhood Market has 12+ years remaining on their lease with four (4) renewal options. The lease calls for an attractive 5% increase every 5-years throughout the primary lease term and at the start of each renewal option. Walmart Neighborhood Market is extremely well located at the signalized intersection of Fred Waring Drive and CA Highway 111, the region’s primary retail and commuter corridor. The Property enjoys outstanding visibility, frontage and access and is part of a dominant trade area that is home to countless national retailers and restaurants, the Shops at Palm Desert (mall), The River at Rancho Mirage, El Paseo Shopping District, College of the Desert (14,000 students), countless golf and country clubs and major roadways including CA Highways 111 and 74, all of which drive traffic to the area. Additionally, the Property is within minutes of several area schools, multiple nationally branded resorts and hotels, and is surrounded by densely populated residential neighborhoods providing a built-in customer base.

FOR SALE DETAILS

PRICE

$17,118,000 USD

PRICE/SF

$375 USD /SF

CAP RATE

4.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walmart Neighborhood Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.37 AC

LAND SF

233,917 SF

ZONING

PC4SP

APN/PARCEL ID

640-110-034

ASK ABOUT THIS PROPERTY

Michael MintzHorvath & TremblayMore Info
312-957-7212

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Michael MintzHorvath & TremblayMore Info
312-957-7212

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