Voit Real Estate Services Acquires Retail Property In Palm Desert For $4.6M
73320 Dinah Shore Drive, Palm Desert, California 92211, United States
$4,600,000
$1,703/SF
Building Size
2,700 SF
Asset Type
Retail
Closing
Mar 16, 2022
AI
The retail property located at 73320 Dinah Shore Drive in Palm Desert has been sold for a price of $4,600,000. The property spans across 2,700 square feet, resulting in a price per square foot of $1,703. The transaction took place on March 17, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,600,000
- Address: 73320 Dinah Shore Drive
- Market: Palm Desert
The buyer's representative for this transaction was John Costa, David Fults, and Brian McLoughlin from Voit Real Estate Services. On the other hand, Bill Asher and Jeff Lefko from Hanley Investment Group Real Estate Advisors represented the seller, Fountainhead Development.
Unfortunately, no additional information is available regarding the specific nature of the deal or any relevant background about the parties involved.
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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93