$3,100,000
$3,195,000
3.0%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 12/06/2021
Key Details
Sold Price $3,100,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 219058986PS
Sold Date 12/06/21
HOA Y/N No
Year Built 2009
Property Description
Trophy Office Building in Rancho Mirage. Perfect for user who wants income to pay debt and operating expenses. Upstairs is fully leased to Medical and Tax account tenants that asked for no COVID concessions. Downstairs of approx. 7641 sq. ft is divided into 3 spaces with substantial tenant improvements. Could be all one use or rent out one or two of the spaces . Very flexible. Cap rate is based on fully leased. Built in 2009 and designed by famed architectural firm Priest Vusic the design is both striking and functional. Featuring a doomed metal roof that requires virtually no maintenance. Shows pride of ownership inside and out with significant tenant improvements invested. The suites have nice views and are very attractive. Elevator for 2nd floor. 44 Parking spaces plus 2 ADA parking. Attractive location for tenants in a mid-valley location across from The River Development with many fine restaurants , entertainment and shopping. Selling under cost if replacement at only $209 psf for this kind of quality. Excellent income and return.
Location
State CA
County Riverside
Area 321 - Rancho Mirage
Interior
Heating ForcedAir
Fireplace No
Exterior
Roof Type Composition
Building
Lot Description SprinklerSystem
Story 2
Others
Tax ID 684251003
Acceptable Financing Cash, Conventional, OwnerMayCarry
Listing Terms Cash, Conventional, OwnerMayCarry
Financing Conventional
Special Listing Condition Standard
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Bought with Marcanne Green • Marcanne Green Real Estate
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