Rare Opportunity To Aquire A Multi-Tenant Industrial Park With Upside
* Rare opportunity to acquire a 45,963 square foot multi-tenant incubator project in Palm Desert, CA. It' s currently 94.26% leased with many long standing warehouse, and showroom tenants that have been at the property for over 10 years. In-place rents are approximately 9.34% below market providing immediate upside and providing a buyer with a 9.52% cash on cash return at market rents.
Exceptional Long-Term Cash Flow With Limited Risk
* The property has maintained a better than average occupancy rate over the years due to the lack of competition and it's varying unit sizes.
* There are two buildings with suites that range from 884 to 4,416 SF. The largest tenant only accounts for 9.6% of the total project which limits major rollover.
Very Strong Market Fundamentals That Support Upside
* Within a 1.5 mile radius the current vacancy rate is an incredibly low 5.3%. This is one of the lowest industrial park vacancies in all of Southern California. As a result of these extremely low vacancy rates, significant rental rate spikes are expected for this project in the near term.
Priced at $4,667,000 ($101 PSF); Significantly Below the Replacement Cost of $8,090,000 ($176 PS)
