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El Paseo Collection Elegante 73151 El Paseo 19,349 SF 100% Leased Retail Building Palm Desert, CA 92260 $8,750,864 CAD ($452.26 CAD/SF) 5.75% Cap Rate
Investment Highlights
- Approximately 71 Parking Spaces with Parking Agreement with nearby Properties!
Executive Summary
» Rare El Paseo Retail Investment – Opportunity to acquire a two-story multi-tenant retail property on Palm Desert’s premier luxury retail corridor.
» Strong In-Place Income – Stabilized NNN investment currently generating approximately $367,000 NOI (5.75% cap rate) with established tenants.
» Value-Add Upside – Desert Wolff Gallery operates on a short-term lease below market, allowing a future investor to capture rental growth through lease restructuring.
» Lease-Up Opportunity – Second floor features three vacant suites and underutilized storage areas that could be repositioned as office or creative workspace to increase revenue.
» Below-Market Rental Rates – Current rents are below several comparable El Paseo properties, creating potential for meaningful long-term rent growth.
» Prestigious Retail Corridor – Located along El Paseo Drive, often referred to as the “Rodeo Drive of the Desert,” surrounded by luxury retail, galleries, restaurants, and boutique shopping.
» Strong In-Place Income – Stabilized NNN investment currently generating approximately $367,000 NOI (5.75% cap rate) with established tenants.
» Value-Add Upside – Desert Wolff Gallery operates on a short-term lease below market, allowing a future investor to capture rental growth through lease restructuring.
» Lease-Up Opportunity – Second floor features three vacant suites and underutilized storage areas that could be repositioned as office or creative workspace to increase revenue.
» Below-Market Rental Rates – Current rents are below several comparable El Paseo properties, creating potential for meaningful long-term rent growth.
» Prestigious Retail Corridor – Located along El Paseo Drive, often referred to as the “Rodeo Drive of the Desert,” surrounded by luxury retail, galleries, restaurants, and boutique shopping.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
19,349 SF
Building Class
B
Year Built
1987
Price
$8,750,864 CAD
Price Per SF
$452.26 CAD
Cap Rate
5.75%
NOI
$503,175 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.74
Lot Size
0.60 AC
Zoning
C1
Parking
35 Spaces (3.98 Spaces per 1,000 SF Leased)
Amenities
- Storage Space
- Air Conditioning
Walk Score®
Very Walkable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 627-232-003 | Improvements Assessment | $4,628,393 CAD |
| Land Assessment | $1,108,428 CAD | Total Assessment | $5,736,822 CAD |
Property Taxes
Parcel Number
627-232-003
Land Assessment
$1,108,428 CAD
Improvements Assessment
$4,628,393 CAD
Total Assessment
$5,736,822 CAD
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El Paseo Collection Elegante | 73151 El Paseo
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