Gateway Desert 4.55% Cap 34300 Monterey Avenue, Palm Desert, CA 92211 For Sale $4,000,000 Five Tenant Retail with High Volume Starbucks Drive-Thru 5,880 SF 1.12 Ac. 2009-Built ADT 55,000+Cars Monterey Ave. & Dinah Shore Drive James G. Towers Office: 909-335-1735 Managing Director- Towers & Associates Mobile: 909-223-9328 Visit Us at: CA BRE# 01342640 E-Mail: [email protected]www.towersRE.com Perfect Eyebrow Swiss Donut Interstate Batteries Firehouse Subs Starbucks Drive-Thru Done Right Investment REAL ESTATE 100% Occupied
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For Sale Cap $4,000,000 Desert Gatewaimages4.loopnet.com/d2/EFLcdBObufL266A8SFqXeCp1... · Desert Gateway 4.55% Cap 34300 Monterey Avenue, Palm Desert, CA 92211 For Sale $4,000,000
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Gateway Desert
4.55%
Cap
34300 Monterey Avenue, Palm Desert, CA 92211
For Sale $4,000,000
Five Tenant Retail
with High Volume
Starbucks Drive-Thru
5,880 SF 1.12 Ac.
2009-Built ADT 55,000+Cars Monterey Ave. &
Dinah Shore Drive
James G. Towers Office: 909-335-1735 Managing Director- Towers & Associates Mobile: 909-223-9328 Visit Us at: CA BRE# 01342640 E-Mail: [email protected] www.towersRE.com
Towers & Associates – Jim Towers – 1447 Ford Street, Redlands, CA 92374 – Office 909-335-1735 – Cell 909-223-9328 – www.towersRE.com – CA Broker Lic. # 01342640 Page 2
The Investment The Desert Gateway shopping center, located at 34300 Monterey Avenue in Palm Desert, California, consists of approximately 5,880 square feet of quality retail space in a single-story building. Constructed in 2009, this five-tenant, 100% occupied, triple-net leased investment features a high-volume Starbucks Coffee drive-thru restaurant as its anchor tenant. Starbucks renewed their lease on October 1, 2017 for a 10-year term, showing a strong commitment to this location. In addition to Starbucks, the center has an excellent tenant mix that includes Firehouse Subs, Interstate Batteries, Swiss Donut, and Perfect Eyebrow. The shopping center has a prominent location with good commercial exposure and
excellent ingress and egress on both Monterey Avenue and Dinah Shore Drive. The center is situated on a 1.12 acre pad site to the dominant retail power center anchored by a Sam’s Club, Walmart, and Kohl’s. The property is surrounded by a dense population base within master-planned residential communities and country clubs.
The Desert Gateway shopping center is an outstanding 1031 Exchange opportunity with a stable income and ease of management.
Towers & Associates – Jim Towers – 1447 Ford Street, Redlands, CA 92374 – Office 909-335-1735 – Cell 909-223-9328 – www.towersRE.com – CA Broker Lic. # 01342640 Page 6
Tenant Profile – Firehouse Subs
Firehouse Subs is a national sandwich franchise with over 1,100 locations in 44 states and abroad. Firehouse Subs generated $715 million in system-wide revenue last year. Founded in 1994 by two firefighter brothers, the Florida-based brand has added more than 350 locations since 2015. This year Firehouse Subs earned a spot on Forbes’ 2018 ranking as the #4 best franchise to buy.
Tenant Profile – Interstate Batteries
Interstate Batteries is a privately owned company that markets automotive batteries through independent distributors. This independently owned and operated Palm Desert distributor features products for: cars and trucks; commercial trucks and equipment; marine; recreational vehicles; sealed lead-acid; lawn and garden; motorcycles and power sports; golf carts; household and electronics; mobile devices and chargers and jump starters.