71687 Ca-111, Rancho Mirage, CA 92270 (MLS# 219058986)

71687 Ca-111, Rancho Mirage, CA 92270

$3,100,000
Property Type: Commercial Sale Square Footage: 15,282 Lot Size (sq. ft.): 26,136 Status: Closed
Current Price: $3,100,000 List Date: 3/17/2021 Last Modified: 11/18/2024

Overview

Description

Trophy Office Building in Rancho Mirage. Perfect for user who wants income to pay debt and operating expenses. Upstairs is fully leased to Medical and Tax account tenants that asked for no COVID concessions. Downstairs of approx. 7641 sq. ft is divided into 3 spaces with substantial tenant improvements. Could be all one use or rent out one or two of the spaces . Very flexible. Cap rate is based on fully leased. Built in 2009 and designed by famed architectural firm Priest Vusic the design is both striking and functional. Featuring a doomed metal roof that requires virtually no maintenance. Shows pride of ownership inside and out with significant tenant improvements invested. The suites have nice views and are very attractive. Elevator for 2nd floor. 44 Parking spaces plus 2 ADA parking. Attractive location for tenants in a mid-valley location across from The River Development with many fine restaurants , entertainment and shopping. Selling under cost if replacement at only $20 ...

Listing Details MLS# 219058986

General Property Information

Approx SqFt
15282
SqFt Source
Assessor
Lot Acres
0.6
Lot Size Source
Assessor
Office SqFt
15282
Year Built
2009
Cross Streets
Dunes View

Property Features

Business Type: Professional/Office Sale Type: Standard Financing: Cash; Owner May Carry; Owner Will Carry Listing Terms: Cash; Conventional; Owner May Carry Tenant Pays: A/C; Electric; Gas/Heat; Janitor; Phone; Refuse Removal; Sewer; Taxes; Water Lot Features: Sprinkler System Asset Class: Office Commercial License: None Land Use: Office Signage: Sign Freestanding Exterior Construction: Stucco; Wood Heating: Forced Air Roofing: Composition Water: In Street; Meter on Property; Water District Contingent Upon: Inspection Disclosures: None

Listing Location and Property Info

APN
684251003
Original List Price
3195000
Property Sub-Type
Office
Street #
71687
Street Name
Ca-111
County
Riverside
State
CA
Zip Code
92270
Area
321 - Rancho Mirage
Country
US

Property Info

Building # of Stories
2

Status Change Info

Status Change Date
2021-12-07
Pending Date
2021-11-12
Closed Date
2021-12-06
Closed Price
3100000

Income

Net Profit
202344

More Information

Business Info

Cap Rate
6
Cooling
Yes
Financing Available
Yes
Investment Property
Yes
Lease Type
NNN
Years Under Current Owner
9
Heating
Yes

Water

Water District Name
CVWD
In Street
Yes
Meter on Property
Yes
Water District
Yes

Listing, Location and Property Info

Entry Date
2021-03-17

Business Type

Professional/Office
Yes

Tenant Pays

A/C
Yes
Electric
Yes
Gas/Heat
Yes
Janitor
Yes
Phone
Yes
Refuse Removal
Yes
Sewer
Yes
Taxes
Yes
Water
Yes

Sale Type

Standard
Yes

Listing Terms

Cash
Yes
Conventional
Yes
Owner May Carry
Yes

Financing

Cash
Yes
Owner May Carry
Yes
Owner Will Carry
Yes

Lot Features

Sprinkler System
Yes

Asset Class

Office
Yes

Commercial License

None
Yes

Disclosures

None
Yes

Land Use

Office
Yes

Signage

Sign Freestanding
Yes

Exterior Construction

Stucco
Yes
Wood
Yes

Heating

Forced Air
Yes

Roofing

Composition
Yes

Contingent Upon

Inspection
Yes
Listing Office: Compass
Listing Agent: Scott Lyle
Last Updated: November - 18 - 2024
Information deemed reliable but not guaranteed.
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