42010 Washington StBermuda Dunes, CA 92203

Property Details for 42010 Washington St

Year built

1999

Construction

TILT-UP CONCRETE

Lot size

1.71 AC

Property size (Sq ft)

13,552 SF

Zone code

R32M

Property type

Retail properties

Property subtype

Retail space

APN

609-020-038

APU

609020038

Description

This exceptional investment opportunity presents a single-tenant, net-leased Walgreens property situated in the prime Coachella Valley location of Bermuda Dunes, California. The 74,488 square foot building, constructed in 1999, sits on a 1.71-acre lot and boasts 79 parking spaces. The property enjoys a hard corner pad location within the Washington Square shopping center, anchored by prominent retailers including Ralph's, HomeGoods, Jack in the Box, and Big O Tires. This high-traffic location benefits from excellent visibility at the signalized intersection of Washington Street and 42nd Avenue, experiencing a combined daily traffic volume exceeding 60,100 vehicles. The property is zoned C-P-S: Scenic Highway Commercial and features a 100% occupancy rate with Walgreens, a tenant with a 25-year history at this location and a remaining lease term of 5 years. The asking price is $5,516,677, representing a price per square foot of $74.06 and a 6.50% cap rate. The property generates a Net Operating Income (NOI) of $5,516,000. The surrounding area demonstrates strong demographics, with an average household income of approximately $128,000 within a 3-mile radius, projected to increase to ~$147,600 by 2029. This location is centrally positioned in the Coachella Valley, between Palm Desert and Indio, amidst 52 golf courses and numerous high-end resorts and country clubs. The proximity to JFK Memorial Hospital further enhances the property's desirability. This is a rare opportunity to acquire a stable, high-performing retail asset in a thriving market. The property's strong tenant history, prime location, and robust demographics make it an attractive investment prospect. No rent bumps are included in the lease. The APN is 609-020-038.

• CAP approach

  CAP return

  Valuation

  6%

  $5,475,218

  6.5%

  $5,054,047

  7%

  $4,693,044

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,990,861

  Geo Method

  $12,020,142

• Alternative Use

  Use

  Valuation

  Residential

  $4,263,278

  Hospitality

  $3,905,139

  Educational

  $3,249,030

  Medical

  $3,360,769

  Retail

  $5,054,047

Location Insight

City

Bermuda Dunes

County

Riverside

State

California

Latitude

33.7431

Longitude

-116.303

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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