Updated Oct 28, 2024
Fountainhead Development Sells Retail Property In Palm Desert For $15.7M
3070 Dinah Shore Dr. Palm Desert
$15,700,000
Building Size
—
Asset Type
Retail
Closing
Jan 31, 2022
About this deal
AI
The retail property located at 3070 Dinah Shore Dr. in Palm Desert has been sold. The transaction was completed on February 1, 2022, and the property was sold for a total of $15,700,000. The seller of the property was Fountainhead Development of Newport Beach.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,700,000
- Address: 3070 Dinah Shore Dr.
- Market: Palm Desert
The sale of this retail property was facilitated by Bill Asher and Jeff Lefko from Hanley Investment Group Real Estate Advisors. They represented Fountainhead Development of Newport Beach in the deal. Bill Asher and Jeff Lefko are experienced brokers in the industry.
On the Map
$15,700,000
Retail
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Players
Rancho Mirage Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93