Discover an exceptional investment opportunity
in the heart of Palm Desert's El Paseo Shopping District
5.5% Cap Rate with Rolex USA
tenant on the "Rodeo Drive of the Desert"
This single-tenant NNN retail storefront, home to Rolex USA, offers a blend of luxury, location, and long-term stability.
Property Highlights:
- Prime Location: Situated on El Paseo, surrounded by high-end retailers like Gucci, Louis Vuitton, and Saks Fifth Avenue.
- Corporate Tenant: Leased by Rolex USA until October 2032, with two five-year extension options.
- High Visibility: 117 feet of frontage on El Paseo, passed by over 10,950 vehicles daily.
- Luxurious Remodel: $6 million interior remodel completed in 2022 to showcase Rolex’s luxury offerings.
- Strong Financials: 5.50% cap rate increasing to 6.05% in October 2027.
- Robust Demographics: Average household income of $112,009 within a 5-mile radius and annual consumer spending of over $1.2 billion.
Rick Canup
CEO, Lubbock TX
CEO, Owner, and Principal Broker of Coldwell Banker Commercial Capital Advisors since 1977
Steve Lyle
CEO, Coachella valley
Steve has led the CBC Coachella Valley Commercial Real Estate sales office for over 33 years. As a native to the Coachella Valley, Steve has a vast wealth of real estate knowledge.
For More INFORMATION
CONTACT RICK OR STEVE TODAY
Rick Canup and Steve Lyle have joined forces to market this prime property on El Paseo, combining their extensive real estate expertise and local market knowledge.
Rick Canup
CEO, Lubbock TX
CEO, Owner, and Principal Broker of Coldwell Banker Commercial Capital Advisors since 1977
Steve Lyle
CEO, Coachella valley
Steve has led Coachella Valley Commercial Real Estate sales office for over 33 years. As a native to the Coachella Valley, Steve has a vast wealth of real estate knowledge.
Property Highlights
Why Invest?
5.5% Cap Rate with Rolex USA tenant on the
- Stable Income: Long-term lease with a renowned corporate tenant.
- High-Quality Asset: Modernized showroom in a prime retail corridor.
- Growth Potential: Increasing cap rate and strong local economic indicators.