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$9,450,000
219151728 MLS
The subject property is located in the County of Riverside (COR) Vista Santa Rosa Community. The COR General Plan Foundation Policy overlay is Community Development (CDO), meaning land use may be low to high density residential among the many uses allowed under this zone classification. The property is also in the City of La Quinta Sphere of Influence (SOI), meaning the development could be entitled through the COR and the annexed into the City of La Quinta in the future. 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 Box stores in Southern California. Original greenhouse improvement costs ($15 MM) excluding the land, far exceeds the current asking price. The property has a 500 gallon per minute irrigation well & pump station with storage tanks for the nursery irrigation system. County of Riverside permitted Cannabis Hemp cultivation for CBD oil production is the most recent agriculture activity at the Nursery facility. Approximately 14 acres of greenhouse is being leased to third parties cultivating Hemp. Rental per acre per month is $8,000 per month. Current General Manager with knowledge base and notoriety in the CBD hemp cultivation industry, willing to work for new ownership, to manage rental income activity moving forward. 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.

83300 58th Avenue, Thermal

$79,000,000
219148114 MLS
■ 1 1/2 mile from the newly proposed Thermal Ranch Specific Plan which 223 acres are dedicated to a large equestrian center, up to 1,362 dwelling units across a variety of housing types and commercial uses ■ In the immediate vicinity of many high end country clubs such as The Hideaway, Madison Club and Andalusia Country Club ■ Just a few miles south of renowned Music Festivals and the new five star Montage & Pendry Hotels, now under construction ■ The Pars Ranch combines equestrian recreation and agricultural use on expansive rural land. The polo ranch component includes irrigated fields, stables, training areas and related facilities that supports seasonal polo activities and events while the surrounding farmland is often leased to agricultural operators for crops.

62200 Jackson Street, Thermal