84141 Avenue 48 | Coachella, CA 92236
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- LoopNet Team
84141 Avenue 48
Coachella, CA 92236
Coachella Resort · Hospitality Property For Sale
·
187,500 SF
INVESTMENT HIGHLIGHTS
- Discount to replacement cost - post renovation the basis will be significantly below replacement cost. Basis further lowered by value components
- Large 35 acre site - fee simple, includes 51 built casitas and multiple outparcels for further development
- Construction approximately 65% completed. Approx $55 million spent to date.
- Lender owned - Property became REO following long bankruptcy process
- Closest lodging to site of Coachella and other Music festivals held at Empire Polo Club. 2.5 hours from 22 million people in So Cal
- TOT Rebate - $25 million TOT rebate (50% rebate for 20 years)
PROPERTY FACTS
| Property Type | Hospitality | Building Size | 187,500 SF |
| Property Subtype | Hotel | No. Stories | 5 |
| Building Class | B | Year Built | 2028 |
| Lot Size | 8.21 AC | Parking Ratio | 1.33/1,000 SF |
| Construction Status | Proposed | Corridor | Exterior |
| Zoning | CG - General Commercial - Resort being developed under approved Development Agreement. | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 8.21 AC |
| Construction Status | Proposed |
| Building Size | 187,500 SF |
| No. Stories | 5 |
| Year Built | 2028 |
| Parking Ratio | 1.33/1,000 SF |
| Corridor | Exterior |
| Zoning | CG - General Commercial - Resort being developed under approved Development Agreement. |
AMENITIES
- Fitness Center
- Pool
- Restaurant
- Spa
- On-Site Retail
- High Speed Internet Access
- On-Site Bar
- Destination Resort
- Meeting Event Space
- Public Access Wifi
- Hot Tub
- Fully-Equipped Kitchen
- Multi-Room Suites
PROPERTY TAXES
| Parcel Number | 603-220-067 | Improvements Assessment | $0 |
| Land Assessment | $3,140,645 | Total Assessment | $3,140,645 |
PROPERTY TAXES
Parcel Number
603-220-067
Land Assessment
$3,140,645
Improvements Assessment
$0
Total Assessment
$3,140,645
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