For Sale
$3,400,000

78010 Country Club DrPalm Desert, CA 92211

High-yield NNN investment, 7.5% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
115
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
78010 Country Club Dr, Palm Desert, California

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78010 Country Club Dr
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