340 Farrell DrPalm Springs, CA 92262
- Office properties
- 22,804 SF
Property Details for 340 Farrell Dr
- Year built
- 1982
- Construction
- WOOD
- Lot size
- 3.29 AC
- Property size (Sq ft)
- 22,804 SF
- Zone code
- P
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 502-230-004
- APU
- 502230004
Description
The Abbey Center, located at 340 S Farrell Dr, Palm Springs, CA 92262, offers a unique investment opportunity in the thriving Palm Springs submarket of Riverside County. This Class B office complex comprises three buildings totaling 67,635 square feet, featuring 2-story structures with a minimum divisible space of 431 square feet and currently 1,127 square feet vacant. Built in 1982, the property sits on 4.61 acres of land and boasts ample parking (4.6 spaces per 1,000 square feet) and elevators. The property is zoned P (Professional Zone District) and enjoys excellent visibility at the intersection of Ramon Road and South Farrell Drive, two major Palm Springs thoroughfares. Its strategic location offers easy access to Palm Springs International Airport (within one mile) and the I-10 Freeway (10 minutes away), providing convenient access to the entire Coachella Valley. The Abbey Center is ideally situated near a variety of amenities, including restaurants, shops, golf courses, hiking trails, and hotels. The property is suitable for both executive and medical office uses, offering multiple tenancy options. This presents a compelling opportunity to acquire a well-located, established office complex in a high-demand area.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $6,267,462
- 6.5%
- $5,785,349
- 7%
- $5,372,110
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,000,335
- Geo Method
- $8,026,324
-
Alternative Use
- Use
- Valuation
- Residential
- $7,173,832
- Hospitality
- $6,571,192
- Educational
- $5,467,155
- Medical
- $5,655,178
- Retail
- $8,504,463
Location Insight
- City
- Palm Springs
- County
- Riverside
- State
- California
- Latitude
- 33.8179
- Longitude
- -116.518
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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