82462 – 82490 Highway 111
Indio, CA 92201

Price: | $6,900,000 | Zoning: | C2 |
Bldg SF: | 52,500 SF | Price/SF (Building): | $131.43 |
Land SF: | 189,486 SF | Price/SF (Land): | $36.41 |
Year Built: | 1999 | Occupancy: | 13% |
Click for Offering Memorandum
Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Price: $6,900,000
Bldg SF: 52,500 SF
Land SF: 189,486 SF
Year Built: 1999
ProForma CAP Rate: 8.10%
Price/SF: $131.43
Occupancy: 13%
Click for Offering Memorandum
Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Investment Highlights
PARTIALLY LEASED TO NATIONAL CREDIT TENANT, CHASE BANK
- 13% leased to Chase Bank
- Chase Bank has a lease which runs through 2022, with one five year option
- Chase has more than 5,100 branches and 16,000 ATMs nationally
- The company employs approximately 250,000 employees and operates in more than 100 countries
- Chase bank has assets surpassing $2.4 trillion (as of 2016)
STRONG DEMOGRAPHICS
- Over 20,000 people are located within one mile of the property, 104,000 within 3 miles of the property, and 176,000 within 5 miles of the property
- There are over 5,600 households located within 1 mile of the property, 26,200 within 3 miles of the property, and 53,900 within 5 miles of the property
- Average household income within 1 mile of the property is over $46,500, 71,900 within 3 miles, and 80,400 within 5 miles of the property
EXTENSIVE RENOVATIONS
- New Façade built from scratch
- Recently paved front lot
- New sidewalks and walkways
- New Roof
- New Trees
- New Fencing at the rear of the property
IDEAL OWNER-USER OR VALUE ADD OPPORTUNITY
- 82462-82490 Highway 111 is currently 87% vacant
- Opportunity for an owner-user buyer to occupy a portion of the property, while collecting income from a stable tenant
- Value-add investment opportunity to reposition the property while collecting income from a national credit tenant
LOCATED PROXIMATE TO EVENT GROUNDS
- Ideally Located less three miles from the Empire Polo Club, the famous site of the Coachella Valley Music and Arts Festival, as well as Stagecoach
- Located across the intersection from the Riverside County Fairgrounds