DINAH SHORE DRIVE & KEY LARGO AVE OFFERING …...RANCHO MIRAGE OFFERING MEMORANDUM STREAM REALTY PARTNERS SITE PLAN This site is located on the highly trafficked and signalized corner

D I N A H S H O R E D R I V E & K E Y L A R G O AV E

O F F E R I N G M E M O R A N D U M

P R E P A R E D B Y S T R E A M R E A L T Y P A R T N E R S

STREAM REALTY PARTNERSRANCHO MIRAGE OFFERING MEMORANDUM

OFFERING SUMMARY OFFERING SUMMARY05 06

O�ering summaryAsking Pr ice: Reduced Price

Call For Price Expectations

P otent ia l Up side: Property has a specific master plan in place, making approvals for any project a smooth process. (See due diligence link for Section 19 Specific Plan.)

L ocat ion: Real property located between Ramon Road and Dinah Shore Drive, just east of Bob Hope Drive in the city of Rancho Mirage, CA

APPROx L and Are a : P1: 113.69 acresP2: 67.14 acres

Total: 180.83 AC

APN: Parcel 1: 685-00-013, 673-120-028Parcel 2: 685-010-009

Zoning: Multiple zoning designations (see page 11)

RAMON RD.

W

PARCEL 2

PULTE SENIOR HOUSING DEV

10

PARCEL 1

E X E C U T I V E S U M M A RY

Stream Realty Partners is pleased to exclusively offer the opportunity to purchase a premier 3.91 acre site, located on the signalized corner of Dinah Shore Drive and Key Largo Ave in Rancho Mirage, California. This site represents a unique opportunity to gain a foothold in an affluent market where retirement housing is thriving and infill mixed use development is booming. The landowner prefers to sell the entire site but would entertain offers on half the site if a smaller parcel was desired. The landlord would also consider ground lease pad sites or build to suits for well qualified credit tenants on long term leases.

Current zoning supports medical office, general office, and senior housing. City support for certain general commercial use is available.

OPPORTUNITY HIGHLIGHTS• 3.91 acres in affluent Rancho Mirage, CA• Less than a mile from:

• Pulte/Del Webb, a high-income Senior Housing development for adults 55 years and older

• Section 19, a high-density mixed used development project consisting of office, hotel, retail, and entertainment space is under construction across the street

• Retail Mega Center featuring 700,000+ of national retail including Walmart, Costco, Home Depot and Starbucks

• Close proximity to world class country clubs, glof courses, and resorts

• Located on the signalized corner of Dinah Shore and Key Largo Ave• The site has all utilities, including water• 635 feet of frontage street improvements, in and paid for along

Dinah Shore Drive


S I T E P L A N

This site is located on the highly trafficked and signalized corner

of Dinah Shore Drive and Key Largo Ave. Current zoning is for

commercial office, senior housing/assisted living or retail. Both

parcels can be amended. This site also has utilities, water, street

improvements and curbs already in place. The southern and

western boarders of the property are completely block walled.

With quick access to the 10 Freeway and this location can serve

a variety of commercial uses accessible to the entire Coachella

Valley.

DISTANCE TO AMENITIES

Across the street from Section 19

Less than 1.0 Mile to I-10 freeway

0.8 Miles to Retail Power Center

1.0 Mile to Pulte Del Webb

1.5 Miles to Agua Caliente Casino

2.0 Miles to Mission Hills Golf Club

7.4 Miles to Palm Springs International Airport

9.5 Miles to Caliente Tropics Resort

10

DIN

AH

SH

ORE

DRI

VE

KEY LARGO AVE

MONTEREY AVENUE

78 ACRE MIXED USE

DEVELOPMENT

MONTEREY CROSSING18-ACRE MIXED USE

COMMERCIAL DEVELOPMENT

SUBJECT SITE


O F F E R I N G S U M M A RY

Make offer for all or part

P1 APN #685-030-009

P1 APN #685-030-012

UPSIDE

Opportunity to gain foothold in affluent and up-and-coming

residential & commercial community

ZONING

Commercial Office and Residentially zoned. City and residents

support zoning change to most commercial types with

acceptable uses.

LOCATION

Located on the signalized corner of Dinah Shore Drive and

Key Largo Ave, in the city of Rancho Mirage.

APPROXIMATE LAND AREA

P1: 2.05 acres

P2: 1.86 acres

Total: 3.91

3.91 ACRES SECTION 193,096,500 SFMIXED USE

DEVELOPMENT

78-ACRE MIXED USEDEVELOPMENT


A R E A O V E R V I E W

Recognized for its elegant ambience and unique luxury lifestyle,

Rancho Mirage is known for its exclusive gated communities,

beautiful golf courses, and superb tennis facilities. It is also

known for its world class health care and medical facilities,

such as Eisenhower Medical Center. Located 116 miles east of

Los Angeles, 125 miles northeast of San Diego, and adjacent to

palm Desert in the Coachella Valley, Rancho Mirage attracts the

wealthiest individuals from west coast cities and beyond. The city’s

reputation as a resort town, in addition to its view of surrounding

mountains, attractively landscaped streets and golf courses, have

created high demand for residential/commercial housing.

The economy is heavily fueled by tourism, annual events, and the

increasing development to support the growing population.

RESORTS

Rancho Mirage boasts world-class resorts, including the Valley’s

only five-star lodging property, The Ritz-Carlton. The Ritz is

perched on a 650 foot bluff overlooking world famous Palm

Springs and a picturesque valley. The Westin Mission Hills Golf

Resort & Spa is centrally located in the Valley sitting on a pristine

360 acres. The last major resort is Agua Caliente Casino Resort and

Spa, a casual, yet sophisticated and elegant resort with luxurious

guest rooms, award-winning gaming, dining and entertainment.



EVENTS

Every January, the city of Palm Springs hosts The Palm Springs

International Film Festival (PSIFF). The PSIFF is one of the largest

film festivals in North America, welcoming 130,000 attendees each

year for its lineup of new and celebrated international features

and documentaries. Neighboring cities, such as Rancho Mirage,

see a surge in economic activity and hotel occupancy for the 11

day festival. Shortly following the PSIFF, Palm Springs hosts the

Desert Woman’s Show and the Greater Palm Springs Food &

Wine Festival. These events also draw crowds of over 5,000 who

flock to cities like Rancho Mirage. Rancho Mirage supports and

hosts many annual events that encourage local economic activity,

including, but not limited to Coachella Art & Music Festival,

Stagecoach Country Music Festival, BNP Paribas, Modernism

Week and more.

HEALTHCARE

Rancho Mirage is also known for its world class healthcare facilities,

such as Eisenhower Medical Center and The Betty Ford Center

(2.3 miles). Since inception in 1971, Eisenhower Medical Center

is the primary health care facility serving the community. EMC

offers primary care, urgent care, multispeciality health centers,

and specialized programs across the valley. With a strong focus

in Men’s Health, Women’s Health, LGBTQ services, HIV care, and

more EMC prides itself in their full-service offerings to rank in the

top tier of Hospital’s across the country.



PULTE DEL WEBB RETIREMENT COMMUNITY

Rancho Mirage has expanded its economy from one

centered around tourism, to include light industry

and commerce around Interstate 10, high-end retail

centers, such as The River shopping complex, an

expanding healthcare sector, and increased real estate

development, both residential and commercial.

Del Webb, a premier 55+ senior living community

with over 1,000 new residences is under construction

just a block away with a sizable waitlist. Del Webb

Communities is the developer, and is one of the oldest

and most experienced developers of age restricted

multifamily product in the country.

180 home phase I nearing completion.



S E C T I O N 1 9 S P E C I F I C P L A N | C I T Y O F R A N C H O M I R A G E

4-4

Figure 8 Land Use Plan and Planning Areas

COMMERCIAL USE & DEVELOPMENT

The Section 19 Plan is designed to foster the creation of a new

mixed-use destination for the City of Rancho Mirage and the

broader Coachella Valley. Situated on the northern edge of the

city, adjacent to Interstate 10, Section 19 represents an opportunity

to bring a different style of living, working, and shopping to the

desert. The plan combines commercial office, entertainment,

hotel, and residential uses. The mixture of land uses will permit

the development of 3,096,500 square feet of commercial, retail,

office, restaurant and entertainment use, as well as up to 1,899

residential units and 580 hotel rooms.

Demographics:

• Median age is 66, consisting of over 40% of the Rancho Mirage

population

• Median property value: $471,300

• Average household Income: $122,086



PROPOSED DEVELOPMENT PROJECT

The project consists of 78 acres of vacant land into a mixture

of Residential multi-family, self-storage facilities, and various

commercial/retail along Dinah Shore. This project sits kitty corner

to the subject property.

Phase 1: 270,000 sq ft of self-storage

Phase 2: 250 apartment units and a 128 room hotel

Phase 3: 250 apartments units and a 6,000 sq ft Restaurant

Phase 4: 250 Apartment units and 24,000 sq ft of shopping / office

Phase 5: 298 Apartment units 1

5

4

4

4

3

2

2

3

3.91 ACRES


A R E A O V E R V I E W | M A P

MISSION HILLS COUNTRY CLUB

WESTIN GOLFRESORT & SPA

10

PULTE DEL WEBB RETIREMENT COMMUNITY

SECTION 19

3.91 ACRES

AGUA CALIENTE RESORT & CASINO

78 ACRE DEVELOPMENT

C H A P T E R F O U R | S P E C I F I C P L A N C O N C E P T S

4-35

Figure 22 Conceptual Open Space Plan


D E M O G R A P H I C S

RADIUS 1 MILE 3 MILE 5 MILE

POPULATION

2023 Projection 1,799 32,655 105,167

2018 Estimate 1,729 30,601 99,066

2010 Census 1,780 26,833 89,979

Growth 2018-2023 4.05% 6.71% 6.16%

Growth 2010-2018 -2.87% 14.04% 10.10%

2018 POPULATION BY HISPANIC ORIGIN 197 9,527 40,814

2018 POPULATION 1,729 30,601 99,066

White 1,491 (86.23%) 27,687 (90.48%) 88,455 (89.29%)

Black 55 (3.18%) 648 (2.12%) 2,463 (2.49%)

Am. Indian & Alaskan 22 (1.27%) 363 (1.19%) 1,246 (1.26%)

Asian 135 (7.81%) 1,258 (4.11%) 4,565 (4.61%)

Hawaiian & Pacific Island 2 (0.12%) 50 (0.16%) 170 (0.17%)

Other 26 (1.50%) 596 (1.95%) 2,166 (2.19%)

U.S. Armed Forces 0 0 16

HOUSEHOLDS

2023 Projection 732 14,157 42,350

2018 Estimate 709 13,325 39,996

2010 Census 759 11,994 36,783

Growth 2018-2023 3.24% 6.24% 5.89%

Growth 2010-2018 -6.59% 11.10% 8.74%

Owner Occupied 599 (84.49%) 10,570 (79.32%) 28,418 (71.05%)

Renter Occupied 110 (15.51%) 2,755 (20.68%) 11,577 (28.95%)

2018 HOUSEHOLDS BY HH INCOME 710 13,325 39,996

Income: <$25,000 132 (18.59%) 2,920 (21.91%) 9,884 (24.71%)

Income: $25,000-$50,000 120 (16.90%) 3,193 (23.96%) 9,659 (24.15%)

Income: $50,000-$75,000 30 (4.23%) 2,088 (15.67%) 6,567 (16.42%)

Income: $75,000-$100,000 100 (14.08%) 1,181 (8.86%) 3,950 (9.88%)

Income: $100,000-$125,000 15 (2.11%) 974 (7.31%) 2,891 (7.23%)

Income: $125,000-$150,000 20 (2.82%) 813 (6.10%) 1,817 (4.54%)

Income: $150,000-$200,000 66 (9.30%) 695 (5.22%) 2,010 (5.03%)

Income: $200,000+ 227 (31.97%) 1,461 (10.96%) 3,218 (8.05%)

2018 AVG HOUSEHOLD INCOME $145,877 $89,179 $79,306

2018 MED HOUSEHOLD INCOME $93,249 $55,723 $51,497


SITE AERIAL: POTENTIAL S ITE LAYOUT FOR MEDICAL OFFICE

TOTAL BUILDING SQUARE FOOTAGE: 40,000 | PARKING RATIO: 5:1000

AIDAN JAMESAssociateLic. #[email protected]

BRET MORRISSManaging DirectorLic. #[email protected] FORT WORTH

777 Main Street, Suite 1275Fort Worth, TX 76102T 817.877.1300

GREATER LOS ANGELES3161 Michelson Drive, Suite 100Irvine, CA 92612T 949.203.3030

HOUSTON515 Post Oak, Suite 100Houston, TX 77027T 713.300.0300

SAN ANTONIO100 NE Loop 410, Suite 1500San Antonio, TX 78216T 210.930.3700

SAN DIEGO600 B Street, Suite 300San Diego, CA 92101T 619.308.6680

WASHINGTON, DC740 15th Street NW, Suite 200Washington, DC, 20005T 202.595.1400

ATLANTA1180 West Peachtree Street, Suite 500

Atlanta, GA 30309T 404.962.8600

AUSTIN515 Congress Avenue, Suite 2100

Austin, TX 78701T 512.481.3000

CHARLOTTE101 South Tryon Street, Suite 2460

Charlotte, NC 28280T 980.819.4270

CHICAGO6250 North River Road, Suite 6025

Rosemont, IL 60018T 708.667.8800

DALLAS2001 Ross Avenue, Suite 400

Dallas, TX 75201T 214.267.0400

DENVER1801 Broadway, Suite 250

Denver, CO 80202T 303.957.5300

CHANGING THE LANDSCAPE OF COMMERCIAL REAL ESTATETM

www.streamrealty.com

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DINAH SHORE DRIVE & KEY LARGO AVE OFFERING …...RANCHO MIRAGE OFFERING MEMORANDUM STREAM REALTY PARTNERS SITE PLAN This site is located on the highly trafficked and signalized corner