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Josef Jonathan Principal Lic 02063319 (760) 349-6711 [email protected] FOR SALE 73271 FRED WARING DR PALM DESERT, CA 92260
Josef JonathanPrincipalLic 02063319(760) [email protected]
FOR SALE
73271 FRED WARING DRPALM DESERT, CA 92260
Located in the Center
of Palm Desert’s
Professional Corridor
Generous Parking
(5 Spaces / 1,000 SF)
and Street Parking
Public Transportation
Accessible
(SunLine Bus Stop)
Open Floor Plans and
Customizable Suites
Dedicated WB Turn
Lane from Fred
Waring Dr
Across the Street
from College of the
Desert
INVESTMENT HIGHLIGHTS
Palm Desert is a city located in the central part of the Coachella Valley in Riverside County, California.
Situated just 120 miles east of Los Angeles, the city is served by regional traffic corridors, such as Interstate 10 and Highways 111 and 74, and is easily accessible to all points within the Coachella Valley by local traffic corridors, such as Fred Waring Dr and Monterey Ave.
The Coachella Valley population is growing at a faster rate than California and the nation. According to estimates by the Coachella Valley Association of Governments (CVAG) and the Southern California Association of Governments (SCAG), the population of the CoachellaValley will double to 884,000 permanent residents by 2035.
AERIAL PHOTOS
EXTERIOR PHOTOS
OFFERING
Price $2,450,000
Gross Leaseable 9,046 SF
Price / SF $270 / SF
Cap Rate 6.25%
Year Built 2004
Zoning OP (Office Professional)
OVERVIEW
• Vacant Suite Available for Owner/User and Purchase is Eligible for SBA Financing
• Building Signage Rights on Fred Waring Dr (32,000 Cars / Day)
• All New Exterior Painting
• Generous Parking (5 Spaces / 1,000 SF) and Street Parking
• Public Transportation Accessible (SunLine Bus Stop)
• Dedicated WB Turn Lane from Fred Waring Dr
• Across the Street from College of the Desert and the Palm Desert Branch Library
Demographics
1-Mile
Radius
3-Mile
Radius
Population 11,150 47,290
Median Population Age 42.8 53.6
Households 4,680 22,160
Median HH Income $46,640 $61,870
Employees 14,820 40,650
Businesses 1,690 4,260
RENT ROLL
INCOME STATEMENT (PRO-FORMA)
Rental Income $ 183,300
Expense Reimbursements 24,400
Income, Total $ 207,700
Landscaping $ 5,500
Repairs & Maintenance 9,000
Utilities 8,000
Insurance 2,000
Taxes (New) 30,800
Expenses, Total $ 55,300
Net Operating Income $ 152,400
Tenant Unit SizeLease
Start Date
Lease End
DateBase Rent
Base Rent
($ / SF)Lease Type Options
Vacant 100/101 4,690 SF 10/01/19 - - - - -
CARD 102 2,606 SF 05/23/19 06/30/24 $4,560.50 $1.75 / SF Modified Gross One 5-Yr
417 Recovery 103 1,750 SF 05/01/17 06/30/20 $2,441.93 $1.40 / SF Modified Gross One 3-Yr
TENANT PROFILES
The Center for Autism and Related Disorders, CARD, wasestablished in 1990 and has become the world’s largest autism treatment provider through center, school, and home-based
behavioral therapy to children and adults diagnosed with autism.
In 2018, CARD was acquired by Blackstone (NYSE: BX), a global private equity firm with nearly $550 billion in assets under
management.
417 Recovery, founded in 2014, is an adolescent outpatient treatment center with offices in Orange County and Palm Desert.
In these centers, adolescents and their families receive comprehensive, clinically-based treatment for substance abuse, co-
occurring disorders, as well as mental health issues.
PLAT MAP
SITE PLAN
San A
nse
lmo
Ave
Santa Rosa Way
Fred Waring Dr
73271 Fred Waring Dr
73271 Fred Waring Dr
Palm Desert, CA 92260
ALL INFORMATION CONTAINED HEREIN IS FROM SOURCES DEEMED RELIABLE; HOWEVER, NO REPRESENTATION OR
WARRANTY IS MADE TO THE ACCURACY THEREOF.
