Investment Highlights
- Value Add Opportunity - Both tenants are month to month with 30 day termination notices and well below market rent
- High Density & Walkable - With +84,000 people in a 5-mile radius, this site uniquely has high density and a high walkability score of 81
- Owner/User Potential - Half or all of the building can be easily converted to single tenant or two tenant owner-user. The Potential for repositioning is vast thanks its to prime location and generous zoning
- True Residential Play - Zoning allows for additional uses such as Multifamily, Airbnb, Condos, and Hotels. The walkable amenities are vast and nearby hotel/Airbnbs command +$100 to +$300 daily
- Desirable Car Count - Viewable from +50,000 VPD along Highway 111, the major arterial providing access throughout Palm Desert and the Coachella Valley
- Signage Upside - The site enjoys excellent visibility to passing vehicles along Highway 111 with potential signage opportunities
- Incredible Retail Node - A multitude of retailers are within a 1-mile radius including Apple, Gucci, Louis Vuitton, Lululemon, Mastro's Steakhouse, Saks Fifth Avenue, Sephora, Tempur-Pedic, Tiffany & Co., Williams-Sonoma, Athleta, Ruth's Chris, CVS, Ace Hardware, Walgreens, and +10 upscale art galleries
- Great Frontage with Access - 70 feet of frontage along Panorama and 189 feet of frontage visable from Highway 111
- Low Price PSF - Below replacement cost with +4.30/1,000 SF parking ratio.
Property Overview
Presenting an exclusive opportunity to own a property located at 45175 Panorama Drive, Palm Desert, CA 92260. This building is situated in a prime location near El Paseo, a renowned shopping and dining district in Palm Desert.
The property at 45175 Panorama Drive is a free-standing retail building with a total area of 8,375 square feet. Currently occupied by two month to month tenants, this building provides a solid foundation for a single tenant, owner-user, or investor.
Situated on a spacious 0.30-acre lot, the property offers ample parking with 31 covered spaces. The current zoning allows for retail, service, office, residential, and hotel uses, providing potential for a wide range of opportunities.
One of the key highlights of this property is its excellent visibility from Highway 111, attracting significant traffic. Its proximity to El Paseo ensures immediate recognition and exposure for any business operating in this location.
Built in 1985, this property is strategically located in a densely populated urban area, with a 5-mile radius boasting over 84,000 residents. This presents a strong customer base for businesses at this property.
In addition to its prime location for a strong customer base, this property also offers substantial value-add potential. The current rents from the month to month tenants is below market rates, making it an enticing investment prospect. Additionally depending on the use, common area space can be reclaimed from the exposed hallway on the 2nd floor and covered parking space on the 1st floor.
With Palm Desert's rapid growth and its position as a thriving urban center in the heart of the Coachella Valley, this property presents a remarkable asset in an expanding market.
