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Introducing an extraordinary investment opportunity nestled on the prestigious Rodeo Drive of the Desert, 73338 Highway 111 in Palm Desert, CA. This commercial gem, renovated in 2021, offers a total of 7 units spanning 5,582 square feet, along with a newly minted 3,470 square foot high-end private club exclusively tailored for elite members. The property enjoys a privileged location, at full capacity, this property is generating over $20,000 per month in rent, amidst an exquisitely affluent community renowned for its opulence. Other units provide flexibility for owner-occupiers or savvy investors seeking rental income. With its prime position on Highway 111, the property ensures excellent visibility and accessibility for both customers and tenants, making it an ideal hub for businesses to attract clientele and expand operations. Furthermore, with Disney “Cotino” embarking on a monumental 618-acre resort project just 4 miles away and the vibrant Coachella festival grounds a mere 5 miles away, this locale pulsates with unparalleled energy and potential. Indian Wells Golf Course lies a mere 2 miles distant, adding to the allure of this prime location. Impeccably positioned for success, this property promises a lucrative venture for discerning investors seeking to capitalize on the thriving commercial landscape of Palm Desert. Don't miss this exceptional opportunity to acquire a highly sought-after commercial real estate asset. Schedule a viewing today to seize this extraordinary investment opportunity.
Property Type(s):
Commercial
| Last Updated | 12/17/2024 | Year Built | 2021 |
|---|---|---|---|
| Community | South Palm Desert | County | Riverside |
Price History
| Prior to Jun 19, '24 | $3,850,000 |
|---|---|
| Jun 19, '24 - Jul 9, '24 | $3,495,000 |
| Jul 9, '24 - Sep 11, '24 | $3,295,000 |
| Sep 11, '24 - Oct 25, '24 | $2,995,000 |
| Oct 25, '24 - Nov 30, '24 | $2,975,000 |
| Nov 30, '24 - Dec 17, '24 | $2,950,000 |
| Dec 17, '24 - Today | $2,895,000 |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | South Palm Desert |
| CONSTRUCTION | Aluminum Siding, Block, Brick Veneer, Cement Siding, Concrete, Glass, Metal Siding, Plaster, Stone, Wood Sidi |
| HEAT | Central, Combination, None |
| LOT | 8276 sq ft |
| LOT DESCRIPTION | 6-10 Units/Acre |
| STORIES | 1 |
| UTILITIES | Cable Available,Cable Connected,Electricity Available,Electricity Connected,Natural Gas Connected,Propane,Phone Available,Phone Connected,Sewer Available,Sewer Connected,Underground Utilities,Water Available,Water Connected |
| WATER | Public |
Location
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Listed with Segovia Real Estate Group
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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