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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