Industrial Flip with $380K left in it.
Hi All,
Industrial Buildings in Palm Desert are almost non-existent. 1.29% vacancy rate at the moment. PRINCIPALS ONLY.
I have under contract 11,700 sqft, 5 door, 24 foot ceiling Industrial building in the heart of Palm Desert. Easy comps to $170 sqft. (a record $425 sqft comp was hit for Cannabis this year) this is in the Palm Desert Cannabis Overlay. All Cash, no Seller Carryback.
$1,980,000 at Market rate of $170 sqft.
$1,600,000 buy price.
$ 380,000 Profit less fees.
Looking for either equity partner, 1031 Buyer, or to Assign the Contract.
Sorry principals only, If you know someone send them direct and have them pay you a referral.
Thanks,
Dan Ruzicka
Director of Acquisition
Pacific Real Estate Ventures, LLC
78-365 HWY 111 suite 401
La Quinta, CA 92253
CalBre #0200671