Ten Tree Properties LLC Acquires Industrial Property In Desert Hot Springs For $7.76M
13310 Little Morongo Rd, Desert Hot Springs, CA, USA
$7,760,000
$239/SF
Building Size
32,370 SF
Asset Type
Industrial
Closing
Jul 28, 2019
AI
An industrial property located at 13310 Little Morongo Rd in Desert Hot Springs has been sold in a recent transaction. The property, measuring 32,370 square feet, is a single tenant industrial condo situated in a secure cannabis cultivation/manufacturing business park. The sale was made by Little Morongo Partners LLC to Ten Tree Properties LLC for a total price of $7,760,000. The transaction took place on July 29, 2019.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,760,000
- Address: 13310 Little Morongo Rd, Desert Hot Springs
- Square Footage: 32,370 SF
- Market: Desert Hot Springs
Rose O'Sullivan from NAI Capital represented the seller, Little Morongo Partners LLC, while representing the buyer, Ten Tree Properties LLC. The transaction was facilitated through the expertise of Rose O'Sullivan from NAI Capital. The property was sold as an investment, with a long-term triple net lease already in place.
Players
Desert Hot Springs Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.04%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93