Country Club Shops

Sold: January 2025

Sale Price: $3,150,000

Represented: Seller & Buyer

Notes: Received multiple all-cash offers within the first week of marketing

Country Club Shops

100% Leased

Multi-Tenant NNN Daily Need Shops with Tenants Performing Extremely Well

Ideal Location - Directly at Freeway Off-Ramp of I-10 and Washington - High Traffic Intersection

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Excellent Freeway On/Off Ramp Location - Highly Trafficked Site

• The property is ideally positioned at the off-ramp of Interstate-10 and Washington Street
• Located at the signalized, hard corner intersection of Washington Street and Country Club Drive with over 71,000 vehicles per day at the intersection

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The Property Features a Rare Cannabis License & Alcohol License

• March & Ash is one of 6 valuable retail dispensary / micro-business licenses allowed in the city of Palm Desert
• In addition, a few of the nearby municipalities do not seem to allow this use creating a large exclusive trade area south of the 10 freeway and in eastern Palm Desert. For comparison purposes, a similar new listing we are working on in Costa Mesa (4 tenant retail center) has an approved Cannabis dispensary CUP in which the city allows a total of 35 licenses.
• Carmen’s restaurant features a full liquor license as well - Rare to have a building with both licenses - creates security for investor and tenants

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Strong Scheduled Rental Increases Throughout Lease Terms

• Current in-place cap rate is 7.5%
• The cap rate is scheduled to grow nearly 200 bps by October 2027, putting the yield at 9.45%

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Highly Rated Tenants / Successful Proven Location

• The property is 100% leased by two (2) tenants - Carmen’s Mexican Grill and March & Ash
• March & Ash is ranked 4.9 out of 5 stars with over 1,828 Google Reviews
• March & Ash has several other successful locations throughout Southern California
• Carmen’s is ranked 4.9 out of 5 stars with over 69 Google Reviews

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Affluent / Strong Demographics in the Trade Area

• Nearly 150,000 permanent residents within a 5-mile radius of the property
• Over $104,000 Average Household Income within a 5-mile radius of the property

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