81963 US Highway 111 - Restaurant FOR SALE


Indio, CA 92201
$1,320,000 USD
760-880-2262
81963 US Highway 111, Indio, CA for Sale
$1,320,000 USD
Restaurant - FOR SALE
1/11
null | 5.58% Cap Rate

81963 US Highway 111
Indio, CA 92201


HIGHLIGHTS

  • Located in the heart of Indio on Highway 111 just one lot West of Monroe on the south side of the street- Incredible visibility

OVERVIEW

Significant Highway 111 frontage and visibility in the natural center of Indio's expansive sprawl in central Indio located one lot from Monroe Street on the south side of Highway 111. The Tenant is Ciro's Restaurant which has been in the same location for over 50 years. Almost everyone who eats in the Indio area has been to Ciro's. The building was built in 1964; The lot is .40 of an acre (17,424 square feet); the building is approximately 5,328 gross square feet, plus the Patio (approximately 1,220 square feet). There is a ten year Lease which started March 1, 2020 and terminates on February 28, 2030. The current rent is $8,096,00 per month (Modified Gross). The yearly rent goes up 3% every year.

FOR SALE DETAILS

PRICE

$1,320,000 USD

PRICE/SF

$294 USD /SF

CAP RATE

5.58%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ciro's Ristorante & Pizzeria

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

C-2

APN/PARCEL ID

616-061-002

ASK ABOUT THIS PROPERTY

Steven GordonCove & Sea Realty, Inc.More Info
760-880-2262

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Steven GordonCove & Sea Realty, Inc.More Info
760-880-2262

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