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Fountain Plaza 73625 Highway 111 21,783 SF 90% Leased Retail Building Palm Desert, CA 92260 $9,517,121 CAD ($436.91 CAD/SF) 6.91% Cap Rate



Investment Highlights
- Year 1 cap rate: 6.91%
- Diversified tenant mix
- An elevated experience awaits at El Paseo, home to upscale restaurants, designer fashion, art galleries, interior design showrooms & specialty service
- Year 5 cap rate 8.72%
- Largest tenant - Keedy’s Diner has been in operation since 1957
- 48,585 cars per day along Highway 111
Executive Summary
Voit Real Estate Services’ Retail Properties Group, as exclusive advisor, is pleased to present the opportunity to acquire Fountain Plaza in Palm Desert, located within the region’s primary retail corridor—El Paseo and Highway 111. While El Paseo is recognized as the desert’s most heavily foot-trafficked retail destination, Highway 111 serves as one of its primary commuter arteries, with average daily traffic counts exceeding 48,500 vehicles. The property is currently anchored by Keedy’s Fountain & Grill, which occupies 18% of the total GLA. In continuous operation since 1957, Keedy’s has become a cherished community fixture—having been sold twice, both times to loyal patrons, reflecting the community’s deep-rooted commitment to preserving its legacy. The remaining tenants each occupy between 600 and 1,400 square feet (3%–6% of the GLA), providing ownership with a diversified rent roll and the flexibility often associated with smaller, short-term leases. Fountain Plaza presents a rare opportunity to acquire a stabilized, historically significant asset in the heart of Palm Desert’s retail core. With a loyal tenant base, prime frontage, and long-term repositioning potential, this property offers investors both durable cash flow and the ability to enhance value over time through strategic leasing or redevelopment.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
21,783 SF
Building Class
C
Year Built
1952
Price
$9,517,121 CAD
Price Per SF
$436.91 CAD
Cap Rate
6.91%
NOI
$657,918 CAD
Percent Leased
90%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
0.54
Lot Size
0.92 AC
Zoning
D - Downtown
Parking
66 Spaces (3.03 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Freeway Visibility
- Signage
- Tenant Controlled HVAC
- Air Conditioning
- Smoke Detector
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Great office space available on the second floor on highway 111 in the heart of Palm Desert. Possibly another office space of similar size will be available soon as well.
| Space | Size | Space Use | Position | Available |
| 2nd Floor | 1,233 SF | Office | - | Now |
2nd Floor
| Size |
| 1,233 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size | 1,233 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
Great office space available on the second floor on highway 111 in the heart of Palm Desert. Possibly another office space of similar size will be available soon as well.
Walk Score®
Very Walkable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 627-212-015 | Improvements Assessment | $3,487,647 CAD |
| Land Assessment | $871,911 CAD | Total Assessment | $4,359,558 CAD |
Property Taxes
Parcel Number
627-212-015
Land Assessment
$871,911 CAD
Improvements Assessment
$3,487,647 CAD
Total Assessment
$4,359,558 CAD
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Fountain Plaza | 73625 Highway 111
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