68100 Ramon Road $8,999,000

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    68100 Ramon Road Cathedral City, CA 92234

    • 70,131 sq.ft.
    • Commercial Sale
    MLS# IV18081988 | Active
    Days On Market: 346 4 Views
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    Property Details

    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 property's 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.

    Contact

    Steve Lautenbach

    REALTOR®

    Palm Springs Office

    Cell: 760-501-1233

    Neighborhood

    92234 (Cathedral City) Demographics

    37Median Age
    3,385Population Density (per sq. mile)
    25%College Educated
    $41,743Estimated Median Income
    10,566Estimated Total Home Owners
    7,099Estimated Total Renters
    60% / 40%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    53,253Total Population

    Market Last 30 Days

    $307,500 Median Sales Price
    96 Homes Sold
    180 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $8,999,000
        4/10/2018 5:18:00 PM New in Database Source

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        Based on information from California Regional Multiple Listing Service, Inc. as of 3/23/2019 1:53:53 PM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.