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74133 El Paseo Dr 18,478 SF 100% Leased Office Building Palm Desert, CA 92260 $3,999,000 ($216.42/SF)
Investment Highlights
- Spacious Office Park Available for the first time in more than 50 Years!
- Two buildings totaling 18,478 SF on 1.54 acres.
- Tremendous opportunity to reposition in this low vacancy trade area.
- Exceptional location at the SE Corner of El Paseo and Lantana Ave.
- Ample parking with lovely landscaping providing a park-like setting.
- Please contact listing brokers for financial information.
Executive Summary
HMS Plaza East currently offers a well-tenanted, beautifully maintained office park in the heart of Palm Desert. HMS Plaza East also offers a rare opportunity for a Buyer to own over 1.5 acres on prestigious El Paseo. Given the short term tenants, few in-place options to extend and under-market rents on a modified gross basis, HMS East offers a multitude of new directions for the next owner.
HMS Plaza East has an excellent location, on El Paseo with restaurants, retailers and other services nearby. It offers easy access off of El Paseo and is just one block from Highway 111. The Property has ample parking and lovely grounds. The current owners have meticulously maintained the property during their ownership of more than 50 years.
The recently updated Downtown District Zoning allows a mix of retail, restaurants, hotel and even residential development to a maximum height of three stories. With new office construction at a standstill for more than the last decade; a low vacancy factor in Palm Desert office and a growing population base, a Buyer has many options for moving HMS Plaza East forward.
It’s neighbor, HMS Plaza West is also available for sale.
HMS Plaza East has an excellent location, on El Paseo with restaurants, retailers and other services nearby. It offers easy access off of El Paseo and is just one block from Highway 111. The Property has ample parking and lovely grounds. The current owners have meticulously maintained the property during their ownership of more than 50 years.
The recently updated Downtown District Zoning allows a mix of retail, restaurants, hotel and even residential development to a maximum height of three stories. With new office construction at a standstill for more than the last decade; a low vacancy factor in Palm Desert office and a growing population base, a Buyer has many options for moving HMS Plaza East forward.
It’s neighbor, HMS Plaza West is also available for sale.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
18,478 SF
Building Class
C
Year Built
1973
Price
$3,999,000
Price Per SF
$216.42
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
18,478 SF
Slab To Slab
12’
Building FAR
0.28
Lot Size
1.54 AC
Zoning
C1SP - General Office Building
Parking
59 Spaces (5.27 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Air Conditioning
- Balcony
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 625-132-001 | Improvements Assessment | $761,192 |
| Land Assessment | $283,421 | Total Assessment | $1,044,613 |
Property Taxes
Parcel Number
625-132-001
Land Assessment
$283,421
Improvements Assessment
$761,192
Total Assessment
$1,044,613
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74133 El Paseo Dr
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