73070 Ramon RdThousand Palms, CA 92276

Property Details for 73070 Ramon Rd

Year built

1975

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

384 SF

Zone code

C1CP

Property type

Retail properties

Property subtype

Retail space

APN

650-263-023

APU

650263023

Description

This exceptional 0.39-acre parcel, located at 73070 Ramon Rd, Thousand Palms, CA 92276 (APN 650-263-006 & 013), presents a unique investment opportunity. Zoned MU (Mixed Use), this fee simple property allows for a variety of development options, including residential construction by right and commercial development with a Conditional Use Permit. The land boasts excellent visibility and accessibility, situated on Ramon Road near the intersection with Monterey Avenue, a high-traffic area with over 38,000 cars daily. Its prime location offers immediate proximity to the 10 Freeway, enhancing convenience and connectivity. The property's strategic position across from Tri-Palm Estates & Country Club, and near Agua Caliente Rancho Mirage, shopping centers, and restaurants, ensures strong potential for future development and high return on investment. The asking price is $175,000, translating to $10.30 per square foot. Permitted uses include bank, daycare/nursery, and pharmacy/drug store. This is a rare opportunity to acquire a versatile mixed-use lot in a thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $155,142

  6.5%

  $143,208

  7%

  $132,979

• Comparable approach

  Method

  Valuation

  Relative Method

  $169,753

  Geo Method

  $340,594

• Alternative Use

  Use

  Valuation

  Residential

  $120,801

  Hospitality

  $110,653

  Educational

  $92,062

  Medical

  $95,228

  Retail

  $143,208

Location Insight

City

Thousand Palms

County

Riverside

State

California

Latitude

33.8167

Longitude

-116.387

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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