78365 Varner Rd - Fast Food FOR SALE


Palm Desert, CA 92211- Outlying Palm Springs
$2,414,000 USD
760-610-3147
78365 Varner Rd, Palm Desert, CA for Sale
$2,414,000 USD
Fast Food - FOR SALE
1/13
null | 3.6% Cap Rate

78365 Varner Rd
Palm Desert, CA 92211
Outlying Palm Springs


OVERVIEW

The CBRE team is pleased to present a rare investment opportunity: the acquisition of an exceptional single tenant NNN McDonald’s asset prominently situated along the 10 Freeway and Washington Street exit in Palm Desert, California. The lease for this property is backed by a corporate guarantee from McDonald’s USA, LLC. The building was constructed in 2014 and features double ordering drive-through lanes. It operates under a triple net (NNN) ground lease, relieving the landlord of any responsibilities. The tenant assumes all maintenance, repairs, replacements, insurance, taxes, and utilities. There are currently 10 years remaining on the lease, with four options for renewal, each lasting five years. Rent increases by 10% every five years. Situated adjacent to the 1,600-acre Sun City Palm Desert retirement community, home to 9,000 residents, the property benefits from a prime location. Sun City Palm Desert has been recognized as one of “The 8 Best Places to Retire in America” by Money.com. The surrounding area boasts a population of 125,356 within a five-mile radius, with a projected annual growth rate of 1.41% over the next five years. In addition, to the west of the property, the new Acrisure arena has recently opened its doors, adding to the area’s appeal and potentially increasing foot traffic. Furthermore, Rancho Mirage, adjacent to Palm Desert, is witnessing the development of Cotino, Storyliving by Disney a residential project, further enhancing the region’s allure and promising sustained growth in the near future.

FOR SALE DETAILS

PRICE

$2,414,000 USD

PRICE/SF

$604 USD /SF

CAP RATE

3.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

-

APN/PARCEL ID

748-380-003

ASK ABOUT THIS PROPERTY

760-610-3147

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760-610-3147

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