Updated Dec 4, 2024
Progressive Real Estate Partners Facilitates $6.1M Retail Sale In Desert Hot Springs
13000 Palm Drive
$6,100,000
$184/SF
Building Size
33,004 SF
Asset Type
Retail
Closing
Apr 3, 2024
About this deal
AI
The retail property located at 13000-13160 Palm Drive in Desert Hot Springs, Coachella Valley was sold for $6.1 million in cash. Spanning 33,004 square feet, the property includes a multi-tenant building and two pad buildings, with one housing Chase Bank. The sale price per square foot was $185.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $6,100,000
- Address: 13000-13160 Palm Drive
- Market: Desert Hot Springs
- SF: 33,004
- BROKERS: Greg Bedell & Heather Sharp - Progressive Real Estate Partners
Greg Bedell represented the seller, an Orange County-based private investor, while Heather Sharp procured the buyer, a Los Angeles County-based private investor. Progressive Real Estate Partners facilitated the sale of the retail property, showcasing expertise in brokering deals across different counties within California.
On the Map
$6,100,000
$184/SF
Retail
View full map
Players
Desert Hot Springs Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Greg Bedell to view all their deals.
Browse Desert Hot Springs retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93