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73320 Dinah Shore Drive, Pa...

Voit Real Estate Services Acquires Retail Property In Palm Desert For $4.6M
SOLDRetail

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

Bill Asher

Hanley Investment Group

Broker

$653.6M

vol

90 deals

Broker
FD
Fountainhead DevelopmentSeller

Rancho Mirage Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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