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262 S Palm Canyon Dr 11,882 SF 100% Leased Retail Building Palm Springs, CA 92262 $8,095,000 ($681.28/SF)
Investment Highlights
- A++ downtown Palm Springs bar hopping zone location!
- The immediate block has the highest food & beverage revenues in the Coachella Valley
- Mid-block signalized pedestrian-only crosswalk connects the subject property to numerous bars/restaurants across the street
- Highest foot traffic location in the entire Coachella Valley
- Strong demographics: over 34,000 population within a 3-mile radius with an average HH income of over $118,000
- Highly sought-after patio space on street-level space and a rare large deck on the second-floor space
Executive Summary
LOCATION HIGHLIGHTS
- Restaurant in A++ downtown Palm Springs restaurant/ bar zone
- Take advantage of over 1,650,000 annual visitors to Palm Springs
- The immediate block has the highest food & beverage revenues in the Coachella Valley
- Strong demographics: over 34,000 population within a 3-mile radius with an average HH income of over $118,000
INVESTMENT HIGHLIGHTS
- Mid-block signalized pedestrian-only crosswalk connects the subject property to numerous bars/restaurants across the street
- 2-story building with contemporary architecture that stands out on the block
- Quality steel frame constructed building with outstanding signage
- Highest foot traffic location in the entire Coachella Valley
- Extensive restaurant fixtures, furniture, and equipment
- $1,000,000 interior building upgrades completed in 2022 in the vacant ground-floor space.
- Contiguous to a 4-story City parking structure with free parking and deeded building signage for both tenants of the subject building facing Indian Canyon Drive.
- Large, highly sought-after patio space on street-level space and a rare large deck on the second-floor space
- 7 years left of the second-floor lease term and 10 years left on the street-level lease term
- Restaurant in A++ downtown Palm Springs restaurant/ bar zone
- Take advantage of over 1,650,000 annual visitors to Palm Springs
- The immediate block has the highest food & beverage revenues in the Coachella Valley
- Strong demographics: over 34,000 population within a 3-mile radius with an average HH income of over $118,000
INVESTMENT HIGHLIGHTS
- Mid-block signalized pedestrian-only crosswalk connects the subject property to numerous bars/restaurants across the street
- 2-story building with contemporary architecture that stands out on the block
- Quality steel frame constructed building with outstanding signage
- Highest foot traffic location in the entire Coachella Valley
- Extensive restaurant fixtures, furniture, and equipment
- $1,000,000 interior building upgrades completed in 2022 in the vacant ground-floor space.
- Contiguous to a 4-story City parking structure with free parking and deeded building signage for both tenants of the subject building facing Indian Canyon Drive.
- Large, highly sought-after patio space on street-level space and a rare large deck on the second-floor space
- 7 years left of the second-floor lease term and 10 years left on the street-level lease term
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
11,882 SF
Building Class
B
Year Built/Renovated
1999/2022
Price
$8,095,000
Price Per SF
$681.28
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.83
Lot Size
0.33 AC
Zoning
CBD
Frontage
47’ on S Palm Canyon Dr
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 513-154-017 | Improvements Assessment | $4,775,436 |
| Land Assessment | $530,604 | Total Assessment | $5,306,040 |
Property Taxes
Parcel Number
513-154-017
Land Assessment
$530,604
Improvements Assessment
$4,775,436
Total Assessment
$5,306,040
Contacts
-
Rick Gordon -
Michael Lyle -
Steve Lyle -
Coldwell Banker Commercial Lyle & Associates
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262 S Palm Canyon Dr
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