7
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$9,900,000
Est. payment /mo
59.03 Acres Lot
Active
83300 58th AVE Thermal, CA 92274
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UPDATED:
12/05/2024 05:15 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Vista Santa Rosa
MLS Listing ID 219120051DA
HOA Y/N Yes
Lot Size 59.030 Acres
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.
Location
State CA
County Riverside
Area 316 - Thermal
Zoning A-1
Interior
Inclusions All Greenhouse Buildings, structures & attached equipment included
Fireplace No
Exterior
Fence Barbed Wire, Chain Link
Utilities Available Electricity Available, Electricity Connected
View Y/N Yes
View Mountain(s)
Building
Lot Description Agricultural, Flat
Sewer Unknown
Water Well
Others
Senior Community No
Tax ID 764170008
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Robert Castro • Arris Properties