44267 Monterey AvePalm Desert, CA 92260

Property Details for 44267 Monterey Ave

Lot size

0.34 AC

Property type

Retail properties

Property subtype

Other retail properties

APN

000-071-729

APU

71729

Description

This two-story, 5,593-square-foot Class B office building in Palm Desert, CA, is available for sale at $1,250,000. Built in 1987, the property sits on a 0.34-acre lot in the OP zoning district and features two units, currently occupied by a single tenant with a lease expiring August 31, 2023. The building offers a gross lease structure and includes 18 designated parking spaces, accessible from both north and south entrances on Monterey Avenue. The interior boasts a flexible layout suitable for multiple tenants or a single user, encompassing a reception area, numerous offices, storage rooms, restrooms, and a kitchenette. The approximately 2,600 square feet on the first floor and 1,800 square feet on the second floor provide ample space for a variety of professional or medical uses. This highly visible and accessible property presents a compelling owner-user opportunity or an attractive investment prospect, given its prime location and potential for future income generation. The price per square foot is $223.49. The property is located at 44267 Monterey Ave, Palm Desert, CA 92260.

• CAP approach

  CAP return

  Valuation

  6%

  $5,983,469

  6.5%

  $5,523,202

  7%

  $5,128,688

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,546,978

  Geo Method

  $13,135,943

• Alternative Use

  Use

  Valuation

  Residential

  $4,659,028

  Hospitality

  $4,267,644

  Educational

  $3,550,630

  Medical

  $3,672,742

  Retail

  $5,523,202

Location Insight

City

Palm Desert

County

Riverside

State

California

Latitude

33.7267

Longitude

-116.392

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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