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45300 Portola Ave
Palm Desert, CA 92260 South Palm Desert

$3,920,000 USD

Post Office For Sale  •  13,334 SF

Property Details

  • Property Type Post Office
  • Total Building Size 14,790 SF
  • Lot Size 1.32 AC
  • Building Class C
  • Year Built 1971
  • Tenancy Single
  • Zoning CPS
0 Transit Score
87 Walk Score

Highlights

Situated on a 1.32-acre corner parcel at Portola Avenue and El Paseo, one of the Coachella Valley’s most prominent and prestigious intersection
Occupied by USPS for over 55 years, with a new 5-year lease extension and two 5-year renewal options featuring 10% rent escalation
Long-term upside independent of in-place cash flow given price-point below residual land value (third-party analysis available upon request)
The current rent of just $15 per square foot is significantly below market for the El Paseo corridor
Located on El Paseo, known as the “Rodeo Drive of the Desert,” a luxury retail corridor
The only post office within a 3-mile radius, serving a trade area of approximately 530,000 residents plus 500,000+ seasonal visitors annually

Property Flyers

Public Transportation

AirportDriveWalkDistance
Palm Springs International 23 min - 12.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 52
Type: Surface
Included in Rent: Yes
David Chasin 310-691-1350 Pegasus Investments
David Chasin 310-691-1350 Pegasus Investments