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73101 Highway 111 16,587 SF 72% Leased Retail Building Palm Desert, CA 92260 For Sale
INVESTMENT HIGHLIGHTS
- Brewery building out as an exciting new tenant!
- Ideal central PD location
- Historic and iconic building familiar to everyone with massive ROI upside
EXECUTIVE SUMMARY
The iconic Palomino building is coming to market with an exciting new brewery tenant and an ideal location. Perfectly situated in mid Palm Desert with heavy car counts, ideal visibility from neighboring El Paseo, and conveniently located in a busy retail center. This recently repaired and updated building is ready for its next owner! With a profitable lease coming to activation upon opening of the new brewery and solid, under-market rents and stable occupancy throughout, this property is poised for increased ROI and heightened social capital when the word is out. Come see this historic location for yourself and you'll see what it would make a great addition to any investors RE portfolio.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$359,524
|
$17.68
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$359,524
|
$17.68
|
| Taxes |
$53,844
|
$2.65
|
| Operating Expenses |
$29,530
|
$1.45
|
| Total Expenses |
$83,374
|
$4.10
|
| Net Operating Income |
$276,150
|
$13.58
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $359,524 |
| Annual Per SF | $17.68 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $359,524 |
| Annual Per SF | $17.68 |
| Taxes | |
|---|---|
| Annual | $53,844 |
| Annual Per SF | $2.65 |
| Operating Expenses | |
|---|---|
| Annual | $29,530 |
| Annual Per SF | $1.45 |
| Total Expenses | |
|---|---|
| Annual | $83,374 |
| Annual Per SF | $4.10 |
| Net Operating Income | |
|---|---|
| Annual | $276,150 |
| Annual Per SF | $13.58 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
16,587 SF
Building Class
C
Year Built
1995
NOI
$229,994
Percent Leased
72%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.36
Lot Size
1.05 AC
Zoning
Downtown - Downtown District allows for a multitude of retail, service and office uses. Full list at this link: https://ecode360.com/43849002#43849014
Parking
40 Spaces (2.41 Spaces per 1,000 SF Leased)
AMENITIES
- Courtyard
- Restaurant
- Signage
- Skyway
- Wheelchair Accessible
- Air Conditioning
- Balcony
- Smoke Detector
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Brewery
- Accommodation and Food Services
- 4,700 SF
- $2.25
- Triple Net
- Aug 2034
- Dr. Nicolas Campos
- Professional, Scientific, and Technical Services
- 275 SF
- $2.25
- Modified Gross
- Feb 2027
- Hartunian Law Firm
- Professional, Scientific, and Technical Services
- 1,060 SF
- $1.89
- Modified Gross
- Mar 2026
- Jordan Healthcare LLC
- Health Care and Social Assistance
- 970 SF
- $1.65
- Modified Gross
- Dec 2025
- Max Johartchi Insurance
- Finance and Insurance
- 1,740 SF
- $1.56
- Modified Gross
- Apr 2026
- Stein Consulting Group
- Management of Companies and Enterprises
- 1,275 SF
- $1.06
- Modified Gross
- Aug 2028
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Brewery | Accommodation and Food Services | 4,700 SF | $2.25 | Triple Net | Aug 2034 | |
| Dr. Nicolas Campos | Professional, Scientific, and Technical Services | 275 SF | $2.25 | Modified Gross | Feb 2027 | |
| Hartunian Law Firm | Professional, Scientific, and Technical Services | 1,060 SF | $1.89 | Modified Gross | Mar 2026 | |
| Jordan Healthcare LLC | Health Care and Social Assistance | 970 SF | $1.65 | Modified Gross | Dec 2025 | |
| Max Johartchi Insurance | Finance and Insurance | 1,740 SF | $1.56 | Modified Gross | Apr 2026 | |
| Stein Consulting Group | Management of Companies and Enterprises | 1,275 SF | $1.06 | Modified Gross | Aug 2028 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Unique and expansive retail space ready for your imagination! Trophy building with intricate design aspects directly adjacent to an exciting new F&B tenant currently building out their space. Lots of possibilities available in this central located highly trafficked building. High ceilings and multi-level flooring provides an exciting canvas for your business to thrive. LL open to being creative about leasing terms so come see it quickly!
High-quality office space available in trophy building with multiple layout options available. Kitchen area included and space is demisable if desired. Creative leasing options considered in this premier location with long-term neighboring tenants
| Space | Size | Space Use | Position | Available |
| Ground North | 5,000 SF | Retail | In-Line | Now |
| 2 | 2,300 SF | Office | - | Now |
Ground North
| Size |
| 5,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2
| Size |
| 2,300 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
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Ground North
| Size | 5,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Unique and expansive retail space ready for your imagination! Trophy building with intricate design aspects directly adjacent to an exciting new F&B tenant currently building out their space. Lots of possibilities available in this central located highly trafficked building. High ceilings and multi-level flooring provides an exciting canvas for your business to thrive. LL open to being creative about leasing terms so come see it quickly!
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2
| Size | 2,300 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
High-quality office space available in trophy building with multiple layout options available. Kitchen area included and space is demisable if desired. Creative leasing options considered in this premier location with long-term neighboring tenants
Walk Score®
Very Walkable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 627-192-034 | Total Assessment | $8,115,120 (2024) |
| Land Assessment | $1,300,500 (2024) | Annual Taxes | $53,844 ($3.25/SF) |
| Improvements Assessment | $6,814,620 (2024) | Tax Year | 2025 Payable 2026 |
PROPERTY TAXES
Parcel Number
627-192-034
Land Assessment
$1,300,500 (2024)
Improvements Assessment
$6,814,620 (2024)
Total Assessment
$8,115,120 (2024)
Annual Taxes
$53,844 ($3.25/SF)
Tax Year
2025 Payable 2026
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73101 Highway 111
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