140 Luring DrPalm Springs, CA 92262

  • Healthcare properties
  • 10,368 SF
For Sale
$1,950,000 View listing

Property Details for 140 Luring Dr

Year built
1970
Construction
WOOD
Lot size
0.60 AC
Property size (Sq ft)
10,368 SF
Zone code
P
Property type
Healthcare properties
Property subtype
Medical offices
APN
502-064-008
APU
502064008

Description

This exceptional 9,850-square-foot medical office building is strategically located in central Palm Springs, California, at 140 N. Luring Dr, 92262. Boasting a modern design and situated on a 0.61-acre lot, the property offers convenient access from E. Tahquitz Canyon Way and N. Sunrise Way. The building has undergone significant renovations in recent years, resulting in a high-quality, updated space. Ample private covered parking is available for tenants and visitors. Panoramic mountain views are visible from all sides of the building. This single-building property presents a unique opportunity for owner-users seeking to occupy a portion of the space while generating income from leasing the remaining suites. The asking price is $1,950,000, translating to a price per square foot of $197.97. This represents a compelling investment opportunity in a desirable location within Riverside County. The property's prime location and recent renovations make it an attractive option for medical professionals and investors alike. The building's multi-use design offers flexibility for a variety of medical practices or related businesses.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,849,546
    6.5%
    $2,630,350
    7%
    $2,442,468
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,818,780
    Geo Method
    $3,649,225
  • Alternative Use

    Use
    Valuation
    Residential
    $3,261,634
    Hospitality
    $2,987,639
    Educational
    $2,485,680
    Medical
    $2,571,167
    Retail
    $3,866,614
140 Luring Dr, Palm Springs, California

Location Insight

City
Palm Springs
County
Riverside
State
California
Latitude
33.8237
Longitude
-116.527
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
$20,318
$416,322
$814,805
$1,231,127
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