83300 58Th Avenue, Thermal, CA 92274
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Listed Price :
$9,900,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
Property Description
The subject property is located in the City of La Quinta Sphere of Influence (SOI) The current local governing agency is the County of Riverside in the Vista Santa Rosa Community. The future Low Density Residential designation on The City of La Quinta General Plan 2035 is consistent with recent Vista Santa Rosa Community board input, regarding future land use. Possible 200 unit residential subdivision. Sewer is at Jackson St.The property was originally developed as a Coachella Valley based nursery by a wholesale nursery company that distributed its products to Big Boxstores in Southern California. The original greenhouse improvement costs excluding the land exceeded the current asking price of the property by several million dollars. The property has a 500 gallon per minute irrigation well & pump station with storage tanks for the nursery irrigation system. Cannabis Hemp cultivation for CBD oil production was the most recent agriculture activity at the Nursery facility. A new owner could consider leasing the greenhouse to a new CBD cannabis grower tenant. The property could also be operated as a wholesale nursery to the landscape construction & maintenance industry in the Coachella Valley.The property is located in an Opportunity Zone, which offers a tax shelter advantage to a new owner. Opportunity Zones offer tax benefits to investors who elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Zone property.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
83300 58Th Avenue |
| City |
Thermal |
| State |
CA |
| Zip |
92274 |
| County |
Riverside |
| Listing Agent |
Robert Castro DRE #01962756 |
| Courtesy Of |
Arris Properties |
| List Price |
$9,900,000 |
| Status |
Active |
| Type |
Land |
| Structure Size |
N/A |
| Lot Size |
2,571,347 |
Listing information courtesy of: Robert Castro, Arris Properties. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 16th, 2024 at 3:56 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
