73951-73995 El Paseo 23,939 SF 100% Leased Retail Building Palm Desert, CA 92260 $7,500,000 ($313.30/SF) 7.80% Cap Rate

prime real estate corner-El Paseo and Portola-property consists of ex. Roberge Jewelers at 73995 El Paseo dr. PD CA 92260 and Mitch's restaurant at 73951 El Paseo dr. PD CA 92260. Total sq.ft of the property varies from one source to another and ranges from 23000 sq. ft to 26000 sq.ft . Property has 2 residential units on the top of the Roberge Jewelers building -toward the parking lot in the back and they are listed separately for rent -call LA for more info and showing.Ex-Roberge Jewelers building -approximatelt 11475 sq. ft -1st level -and 232 sq.ft cat walk-is also available for lease as a whole or can be partitioned into smaller units.-call LA for showings or more info! Mitch's restaurant is currently under lease contract and upon accepted offer ,info on the lease will be provided. There are a total of 4 lots with one APN number.
A gallery , a jewelery store , an antiques store, a consignment store are just a few of the suggestions that can go inthe ex-Roberge Jewelerers building and going rate is approximately $3 to $4 NNN.Currently not rented as the owner may suggest and desire own use!CAP rate is pro forma and based on renting the Roberge Jewelers portion of property! for any inquiries call Slav at (760)-408-4824 cell
Developer`s beware! Property can also be developed and the previous owner had plans submitted for approval with the city of Palm Desert, but the application has expired since then .
A project that is up to 4 story high or 55 feet high, whichever is higher, can be built and potentially approved there but it is a matter of approval and building permits, so any prospect should check with the city of Palm Desert! Submitting of documents only after a successful acceptance of price and terms on an LOI or offer!