For Sale
$3,400,000

78010 Country Club Dr Palm Desert, CA 92211

High-yield NNN investment, 7.5% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional 6,948 square foot retail center in Palm Desert, CA, presents a compelling investment opportunity. Located at the highly trafficked intersection of Washington Street and Country Club Drive (over 71,000 vehicles daily), this single-story, 2007-built property boasts a 100% occupancy rate with two strong tenants: Carmen's Mexican Grill and March & Ash. March & Ash, a highly-rated dispensary with over 1,828 Google reviews, holds a rare cannabis license, while Carmen's possesses a full liquor license—a unique combination offering significant investor security. The property sits on a 0.66-acre lot, conveniently located at the I-10 freeway off-ramp, maximizing visibility and accessibility. The current in-place cap rate is 7.5%, projected to increase to 9.45% by October 2027 due to scheduled rent increases. The strong demographics of the area, with nearly 150,000 residents and an average household income exceeding $104,000 within a 5-mile radius, further enhance the investment potential. This stabilized NNN investment offers a compelling combination of high occupancy, strong tenants, and significant growth potential, making it an ideal addition to any portfolio. The property's APN is 748-380-018. The asking price is $3,400,000, with a current NOI of $254,708.

Highlights

  • Excellent freeway visibility and access at the I-10 off-ramp and Washington Street, a high-traffic location with over 71,000 vehicles daily.
  • High-traffic corner location at Washington Street and Country Club Drive; property features a rare combination of cannabis and liquor licenses.
  • Exclusive trade area due to limited cannabis licenses in nearby municipalities.
  • Strong, scheduled rent increases resulting in a projected cap rate increase from 7.5% to 9.45% by October 2027.
  • 100% occupancy with highly-rated tenants: March & Ash (4.9 stars, 1,828+ Google reviews) and Carmen's (4.9 stars, 69+ Google reviews).
  • Strong demographics: nearly 150,000 residents within a 5-mile radius, with an average household income exceeding $104,000.

Property Details for 78010 Country Club Dr

Property type
Lifestyle centers, Power centers
Square Feet
6,948 SF
Year Built
2007
Buildings
1
Stories
1
Lot Size (sq. ft)
28,750 SF

Location Insight

City
Palm Desert
County
Riverside
State
California
Latitude
33.7584769
Longitude
-116.303461

FAQs

What type of property is this?
Lifestyle center - High-yield NNN investment, 7.5% cap rate.
Where is the lifestyle center located?
The property is located at 78010 Country Club Dr Palm Desert, CA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Excellent freeway visibility and access at the I-10 off-ramp and Washington Street, a high-traffic location with over 71,000 vehicles daily.; High-traffic corner location at Washington Street and Country Club Drive; property features a rare combination of cannabis and liquor licenses.; Exclusive trade area due to limited cannabis licenses in nearby municipalities.
How can I contact the broker?
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78010 Country Club Dr
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