495 Industrial PlPalm Springs, CA 92264

Property Details for 495 Industrial Pl

Year built

1956

Construction

TILT-UP CONCRETE

Lot size

0.56 AC

Property size (Sq ft)

7,000 SF

Zone code

RR

Property type

Retail space

APN

508-162-013

APU

508162013

Description

This thriving automotive repair business in Palm Springs, California, presents a unique investment opportunity. Located at 495 Industrial Pl, 92264, this Class C property boasts a prime location within Riverside County, offering significant growth potential due to limited competition in the immediate area. The business, operating for over 45 years, includes a 5,500 square foot facility with six service bays and six hydraulic lifts, ensuring efficient operations. A new five-year lease is in place, with a monthly rent of $5,000 NNN, and a single five-year option to extend the lease. The business is structured as a multi-tenant operation with one unit. This turnkey operation is ideal for an established business seeking expansion or an experienced mechanic looking to own their own shop. The seller is offering financing options, making this an even more attractive proposition. The business is categorized as "Business Only" and is offered at an asking price of $395,000. This established business offers a strong foundation for continued success and significant return on investment. Don't miss this chance to acquire a well-established and profitable automotive repair business in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,828,108

  6.5%

  $2,610,561

  7%

  $2,424,093

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,094,453

  Geo Method

  $6,208,751

• Alternative Use

  Use

  Valuation

  Residential

  $2,202,106

  Hospitality

  $2,017,117

  Educational

  $1,678,218

  Medical

  $1,735,934

  Retail

  $2,610,561

Location Insight

City

Palm Springs

County

Riverside

State

California

Latitude

33.8116

Longitude

-116.544

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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