140 Luring DrPalm Springs, CA 92262

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

Medical offices

Property subtype

Medical centers

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.

• 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

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

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