For Sale
$16,105,000

64640 19Th AveDesert Hot Springs, CA 92240

60,000 SF PODS facility; 6% Cap Rate

Overview

Added:
Jan 24
Days on market:
71
This exceptional investment opportunity presents a 60,000-square-foot Class A warehouse in Desert Hot Springs, CA, currently leased to PODS Enterprises, LLC under a 10-year Net Lease (NNN) agreement commencing October 1, 2024, and expiring September 30, 2034, with two 5-year renewal options. The property boasts a strong 6.00% cap rate based on a Net Operating Income (NOI) of $966,305. The lease includes a corporate guarantee and features 3% annual rent increases, ensuring a stable and growing income stream. Built in 2024, this single-building facility sits on a 4.86-acre lot and offers 28-foot clear heights, one loading dock, and two dock-high doors. The strategic location in Desert Hot Springs provides excellent access to Interstate 10, connecting to major markets like Phoenix and Las Vegas. The property benefits from significant industrial development in the area, including a nearby Amazon facility. This fee-simple ownership offers a compelling opportunity for 1031 exchange investors seeking a secure, high-quality industrial asset with significant long-term growth potential. The property's prime location and strong tenant covenant make it an attractive investment for discerning buyers. The price per square foot is $268.42. The property's APN is 666-360-017.

Highlights

  • $16,105,000 asking price for a 60,000 square foot Class A industrial warehouse.
  • Net lease with a corporate guarantee from PODS, a national leader in portable storage. 10-year lease commencing October 1, 2024, with 3% annual rent increases and two 5-year options.
  • 6.00% cap rate, generating $966,305 in net operating income (NOI). $268.42 price per square foot.
  • New construction (2024) with 28-foot clear heights, one loading dock, and two dock-high doors. Located on a 4.86-acre lot in Desert Hot Springs, CA.
  • Strategically located near Interstate 10 and a future Amazon distribution center. Benefits from eastward industrial development in Desert Hot Springs.
  • 1031 exchange eligible.

Property Details for 64640 19Th Ave

Property type
Warehouses, Industrial properties
Square Feet
60,000 SF
Class
A
Year Built
2024
Buildings
1
Lot Size (sq. ft)
211,702 SF

Location Insight

City
Desert Hot Springs
County
Riverside
State
California
Latitude
33.910979679102
Longitude
-116.53665532709
64640 19Th Ave, Desert Hot Springs, California

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64640 19Th Ave
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