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Fountain Plaza 73625 Highway 111 21,783 SF 100% Leased Retail Building Palm Desert, CA 92260 $6,950,000 ($319.06/SF) 7.18% Cap Rate
Investment Highlights
- Year 1 cap rate 7.18%
- Keedy's Fountain & Grill, the anchor tenant and a Palm Desert institution since 1957 has executed a new 5-year lease renewal running through June 2031
- 48,585 cars per day along Highway 111
- Diversified tenant mix
- An elevated experience awaits at El Paseo home to upscale restaurants, designer fashion, art galleries, interior design showrooms & specialty services
Executive Summary
Fountain Plaza offers investors the opportunity to acquire a well-established retail asset positioned at the intersection of convenience and visibility in Palm Desert’s premier retail corridor—El Paseo and Highway 111. This property benefits from 232 feet of frontage along Highway 111, a major commuter artery with traffic counts exceeding 48,500 vehicles per day. Anchored by Keedy’s Diner, a community fixture operating since 1957, the center boasts historical significance and strong tenant loyalty.
The center spans 21,783 square feet on a 0.92-acre parcel with diverse tenants that ensure consistent rental income and cash flow stability. The offering includes 94% occupancy, a forecasted Year One NOI of $499,014, and a cap rate of 7.18%, presenting investors with both attractive in-place income and upside potential through strategic leasing or repositioning. Located within steps of luxury shopping, fine dining, and hospitality amenities on El Paseo, the property sits at the heart of a dense, affluent trade area, close to prominent resorts, golf destinations, and major regional transportation routes.
The center spans 21,783 square feet on a 0.92-acre parcel with diverse tenants that ensure consistent rental income and cash flow stability. The offering includes 94% occupancy, a forecasted Year One NOI of $499,014, and a cap rate of 7.18%, presenting investors with both attractive in-place income and upside potential through strategic leasing or repositioning. Located within steps of luxury shopping, fine dining, and hospitality amenities on El Paseo, the property sits at the heart of a dense, affluent trade area, close to prominent resorts, golf destinations, and major regional transportation routes.
Data Room Click Here to Access
Financial Summary (Actual - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
21,783 SF
Building Class
C
Year Built
1952
Price
$6,950,000
Price Per SF
$319.06
Cap Rate
7.18%
NOI
$499,014
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
0.54
Lot Size
0.92 AC
Zoning
D - Downtown
Parking
66 Spaces (3.03 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Freeway Visibility
- Signage
- Tenant Controlled HVAC
- Air Conditioning
- Smoke Detector
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 627-212-015 | Total Assessment | $3,183,623 (2025) |
| Land Assessment | $636,724 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,546,899 (2025) | Tax Year | 2027 |
Property Taxes
Parcel Number
627-212-015
Land Assessment
$636,724 (2025)
Improvements Assessment
$2,546,899 (2025)
Total Assessment
$3,183,623 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2027
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