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$1,499,000
Est. payment /mo
0.71 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 219155151DA
HOA Y/N No
Year Built 1976
Lot Size 0.710 Acres
Property Description
Excellent opportunity to acquire a 10,126 SF commercial building in Palm Springs, featuring durable block wall construction and a fenced yard. The property is occupied by a well-established tenant with an impressive 22-year tenancy, providing a history of occupancy and a current income stream. The existing lease has approximately 3 years remaining, offering an investor the opportunity to maintain the current tenancy while evaluating future lease-renewal potential. The property currently offers a reported 7.7% capitalization rate.The building is situated on leased land, with approximately 32 years remaining on the land lease. Located across the street from a new tribal gas station, the property benefits from proximity to a notable commercial development in the surrounding area.Please do not disturb tenant. Drive-by only. No direct contact with the tenant or property visits without prior authorization.
Location
State CA
County Riverside
Area 334 - South End Palm Springs
Interior
Heating Forced Air
Fireplace No
Exterior
Roof Type Flat
Others
Tax ID 009613382
Special Listing Condition Standard
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Listed by Ryan Pylypow Rennie Group #01782691
Nearby Locations
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