72990 El PaseoPalm Desert, CA 92260

  • Strip malls
  • 9,728 SF
For Lease
$24/SF/YR View listing

Property Details for 72990 El Paseo

Year built
1980
Construction
WOOD
Lot size
1.12 AC
Property size (Sq ft)
9,728 SF
Zone code
PC3SP
Property type
Strip malls
Property subtype
Neighborhood centers
APN
640-170-013
APU
640170013

Description

This exceptional retail space, located at the hard corner of Highway 111 and El Paseo in Riverside County's Coachella Valley submarket, offers ±1,508 square feet of inline space within the Pointe El Paseo center. The property boasts unparalleled visibility, benefiting from its strategic location at the intersection of four major roadways (Monterey, Highway 111, Highway 74, and El Paseo), resulting in exposure to a significant daily traffic count of 90,313 vehicles. This high-traffic location is further enhanced by strong co-tenancy with established businesses including Starbucks, Juice, First Republic Bank, Wildest Restaurant, and a new Shoe City. The property shares access and parking with the adjacent Palms to Pines shopping center, home to national tenants such as Rite Aid and Staples, providing additional customer draw. The suite itself features ample storefront parking and benefits from recently upgraded landscaping and parking lot improvements, including impressive architectural outdoor lighting for enhanced nighttime visibility. While the total building encompasses 9,600 square feet with one suite, the available space is ±1,508 square feet. This presents a unique opportunity for businesses seeking high visibility and strong co-tenancy in a thriving commercial hub. The maximum contiguous space available is 3,000 square feet.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,954,270
    6.5%
    $2,727,020
    7%
    $2,532,230
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,774,770
    Geo Method
    $3,560,920
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $5,201,380
    Mixed-Use / Specialty
    $2,764,410
    Hospitality / Lodging
    $2,089,490
    Office
    $2,797,050
    Institutional / Educational
    $2,890,700
    Residential Income
    $3,382,120
    Multifamily
    $3,795,190
    Automotive / Energy
    $2,477,750
    Parking / Income-Based Land
    $808,499
    Restaurant / Food Service
    $1,538,320
    Healthcare / Senior Housing
    $2,786,540

Location Insight

City
Palm Desert
County
Riverside
State
California
Latitude
33.7203
Longitude
-116.392
CBSA code
40140
CBSA name
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$27,914
$901,153
$1,367,126
$2,268,279
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-
-
-

FAQs

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