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:
11/16/2024 03:48 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Vista Santa Rosa
MLS Listing ID 219120051
HOA Y/N No
Lot Size 59.030 Acres
Acres 59.03
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 Box
stores 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.
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. 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
Exterior
Fence Barbed Wire, Chain Link
Utilities Available Electricity Available, Electricity Connected
View Y/N true
View Mountain(s)
Private Pool No
Building
Lot Description Agricultural
Sewer Unknown
Schools
Elementary Schools Westside
Middle Schools Toro Canyon
High Schools Coachella Valley
School District Coachella Valley Unified
Others
Senior Community No
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Arris Properties
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