68100 Ramon Road
Cathedral City, CA 92234

$8,999,000

Description

One Million Dollar Price Reduction, Seller is Very Motivated. -9.88% ProForma CAP Rate Achieved Though Continued Rehabilitation & Stabilization. -Interest Only Financing Offered by Logix Federal Credit Union. Interest Only Terms; 50% Down Payment, 5.25% Interest Rate for 1 Year. Estimated monthly interest payments of $19,685 (This offering is for one multi-tenant shopping center located at 68100 Ramon Road in Cathedral City. The property is divided into 3 separate building referred to as A-B, C & D. Property is on one Lot and has a single APN. Call or email Le Investment Group for the marketing package.) The Ramon Plaza is a 70,131 square foot, multi-tenant neighborhood shopping center, niched in the heart of Cathedral City. The property is located on Ramon Road, a major thoroughfare of the Coachella Valley. (Ramon Road has been expanded to three lanes and has an average daily traffic count exceeding 50,000+ vehicles.) The plaza consists of three separate buildings, situated on a 6.64-acre corner lot. The propertys configuration, visibility, zoning, ample parking, available suites ranging from 1,500-7,275 Sq. Ft. and strategic location, all contribute, to make the Ramon Plaza an ideal location for a diverse tenant base. The offering represents a true value-add asset, with below market rents, month-to-month tenants and a rare opportunity to reposition a pad building, with a premium location, on Ramon Road frontage.

Details

MLS#IV18081988
StyleIQWeb_Office Bldg
Sub-TypeResale
StatusActive
Days On Site48

Features

SQ Feet70,131
Story(s)0
Units27

Market Activity 92234

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Area Information

StateCA
CountyRiverside
CityCathedral City
Zip Code92234
Area335 - Cathedral City North
Listing VS Median (in 92234)
Price:
$8,999,000
low | high
Med:
$235,000
100% of Average
SqFt:
70,131
low | high
Med:
1,418
100% of Average
$ / SqFt:
$128
low | high
Med:
$167
19.661750556694% of Average
On Site:
48
low | high
Med:
7
100% of Average
Listing Updated: 02/20/2019
MLS Number: IV18081988
Listing Provided By:
ALBERT LE  of  LE INVESTMENT GROUP
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