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Former Bank Building 73301 Highway 111 8,620 SF Retail Building Palm Desert, CA 92260 $1,900,000 ($220.42/SF)
INVESTMENT HIGHLIGHTS
- Highly visible, freestanding retail building
- Offered below recent appraised value
- Priced to sell
EXECUTIVE SUMMARY
Exceptional opportunity to acquire a highly visible, freestanding retail building along Highway 111 in the heart of Palm Desert. Formerly occupied by California Bank & Trust, the property offers outstanding exposure and signage, with traffic counts exceeding 33,000–37,000 vehicles per day and approximately 155 feet of Highway 111 frontage.
The ±8,620 SF building sits on an approximately 31,800 SF parcel and is well suited for a variety of retail, medical, financial, or service-oriented uses. The site benefits from ample parking, strong access, and a CoStar Location Score of 97 (Best Location) in one of the Coachella Valley’s most established commercial corridors.
Priced to sell and offered below recent appraised value, this offering presents a compelling opportunity for both owner-users and investors seeking a below-market basis in a premier Palm Desert location.
The ±8,620 SF building sits on an approximately 31,800 SF parcel and is well suited for a variety of retail, medical, financial, or service-oriented uses. The site benefits from ample parking, strong access, and a CoStar Location Score of 97 (Best Location) in one of the Coachella Valley’s most established commercial corridors.
Priced to sell and offered below recent appraised value, this offering presents a compelling opportunity for both owner-users and investors seeking a below-market basis in a premier Palm Desert location.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Bank
Building Size
8,620 SF
Building Class
B
Year Built
1980
Price
$1,900,000
Price Per SF
$220.42
Tenancy
Single
Building Height
2 Stories
Building FAR
0.27
Lot Size
0.73 AC
Zoning
D - Downtown District - The Downtown (D) zone is intended for multi-story buildings up to 3 stories, including ground floor retail, restaurant, service, and office uses.
Frontage
155’ on Highway 111
AMENITIES
- Signage
- Drive Thru
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 627-201-022 | Improvements Assessment | $2,033,746 |
| Land Assessment | $978,406 | Total Assessment | $3,012,152 |
PROPERTY TAXES
Parcel Number
627-201-022
Land Assessment
$978,406
Improvements Assessment
$2,033,746
Total Assessment
$3,012,152
CONTACTS
-
Michael Lyle -
Brian Ward -
Steve Lyle -
Coldwell Banker Commercial Lyle & Associates
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Former Bank Building | 73301 Highway 111
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