PetSmart NNN Property For Sale — Palm Desert, CA
34900 Monterey Avenue, Palm Desert, CA 92211
This offering presents a prime opportunity to acquire a fee-simple interest in a 23,908-square-foot single-tenant retail building, fully leased to PetSmart, Inc. Located at 34900 Monterey Avenue in Palm Desert, California, the property is a part of the Desert Gateway retail center, a dominant power center in the region. This investment benefits from its strategic location within a thriving commercial and tourism hub, providing excellent visibility and access from the I-10 freeway. The area boasts a population of over 86,000 within a five-mile radius with an average household income exceeding $84,000, and significant population growth between 2010-2018. The Coachella Valley consistently draws millions of tourists annually, contributing billions to the local economy. The property also offer…
- Address: 34900 Monterey Avenue, Palm Desert, CA 92211
- Asking price $6.50M
- 6.86% cap rate
- NOI $445,557
- 0.5 years remaining
- NNN lease
- Year built: 2007
- Building size: 23,908 SF
- Lot size: 2.64 acres
- Lease expiration: Mar 31, 2023
- Rent increases: 4/1/2023 - 3/31/2028: $490,831.24; 4/1/2028 - 3/31/2033: $539,842.64; 4/1/2033 - 3/31/2038: $593,874.72; 4/1/2038 - 3/31/2043: $653,166.56
- Guarantor: Corporate
Location
This PetSmart property is at 34900 Monterey Avenue in Palm Desert, California.
Asset type: Retail