74-350 Alessandro Drive, Palm Desert, CA 92260

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Building Details:

• Year Built: 1995

74-350 Alessandro Drive is located in Palm Desert, CA.

The subject project consists of two standalone, multi-tenant office buildings. Total project size is 11,325 approximate square feet on 0.76 Acres.

Property is fully built-out and is +/-87.5% occupied and has a current NOI of $113,728+/- annually. At asking price, the property initial CAP Rate is +/-6.8% with a Cash on Cash basis of +/-8.8%. Once fully leased, that figure may increase to +/-8.76% CAP and +/-12.72% Cash on Cash. Please see Pro Forma for
assumptions. All assumptions are not guaranteed and Buyer is strongly
cautioned to perform their own underwriting of the subject property prior to purchase.

Priced well below replacement value. Current income allows for strong initial CAP rate of return and also allows for future upside.

Current owner recently repainted the entire property and also re-landscaping the site.

Total Sellable Size: 11,736 square feet
Multi-tenant office building including ten individually suites.
Each suite is separately metered for electric.
Project has covered parking, building, suite and monument signage.
Low vacancy rate with upside in rents and lease-up.
Priced at only: $140.60 psf ($1,650,000).
All suites are fully finished and built-out.
Priced below replacement value.
Property is conveniently located just north of Highway 111 and south of Fred Waring corridors in the heart of Palm Desert and the Coachella Valley.
Contact Michael Meade in regards to any questions or to schedule a tour.