Log In/Sign Up
Your email has been sent.
360-368 N Palm Canyon Dr 14,000 SF 100% Leased Retail Building Palm Springs, CA 92262 $4,350,000 ($310.71/SF) 7.43% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Downtown Location – Limited availability of assets along Palm Canyon Drive with strong investor demand
- Versatile Income Mix – 9 apartment units and 2 ground-floor retail tenants (including Las Casuelas Mexican Food and Inca Peruvian).
- Growing Year-Round Economy – Palm Springs has evolved beyond a seasonal destination, supported by hospitality & entertainment
- Tourism-Driven Market – Coachella Valley region generates an estimated $9 billion in annual tourism revenue
- Immediate Proforma Cap Rate Possible of 6.53% (call broker for details)
- PALM SPRINGS INTERNATIONAL AIRPORT - Minutes from Palm Springs International Airport (PSP), serving over 3 million annual passengers
EXECUTIVE SUMMARY
Prime Net Lease is pleased to present a rare mixed-use investment opportunity in the heart of Downtown Palm Springs, California. This ±14,078 SF property offers a dynamic blend of retail and residential uses, featuring 9 apartment units and 2 ground-floor retail suites. With its prime location, strong tenant base, and significant value-add potential, the asset represents a premier acquisition in one of Southern California’s most desirable resort markets.
Located along Palm Canyon Drive, Palm Springs’ premier pedestrian corridor, the property benefits from exceptional visibility and heavy year-round foot traffic driven by surrounding restaurants, boutiques, luxury hotels, and entertainment venues. The site is positioned adjacent to the newly developed 168-room Thompson Hotel and within walking distance to major attractions including the Palm Springs Art Museum, Agua Caliente Cultural Plaza, and the Palm Springs Convention Center.
The property is further supported by robust demographics and strong tourism demand. Within three miles, the average household income exceeds $99,000, and the area draws from both affluent local residents and more than 14 million annual visitors to the Coachella Valley. Palm Springs International Airport, less than 10 minutes away, serves over 3 million passengers annually, connecting the city to major domestic and international markets.
Immediate Proforma Cap Rate Possible of 6.53% (call broker for details)
Please see the attached marketing brochure for full details.
Located along Palm Canyon Drive, Palm Springs’ premier pedestrian corridor, the property benefits from exceptional visibility and heavy year-round foot traffic driven by surrounding restaurants, boutiques, luxury hotels, and entertainment venues. The site is positioned adjacent to the newly developed 168-room Thompson Hotel and within walking distance to major attractions including the Palm Springs Art Museum, Agua Caliente Cultural Plaza, and the Palm Springs Convention Center.
The property is further supported by robust demographics and strong tourism demand. Within three miles, the average household income exceeds $99,000, and the area draws from both affluent local residents and more than 14 million annual visitors to the Coachella Valley. Palm Springs International Airport, less than 10 minutes away, serves over 3 million passengers annually, connecting the city to major domestic and international markets.
Immediate Proforma Cap Rate Possible of 6.53% (call broker for details)
Please see the attached marketing brochure for full details.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$370,395
|
$26.46
|
| Other Income |
$34,621
|
$2.47
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$405,016
|
$28.93
|
| Taxes |
$50,469
|
$3.60
|
| Operating Expenses |
$31,126
|
$2.22
|
| Total Expenses |
$81,595
|
$5.83
|
| Net Operating Income |
$323,421
|
$23.10
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $370,395 |
| Annual Per SF | $26.46 |
| Other Income | |
|---|---|
| Annual | $34,621 |
| Annual Per SF | $2.47 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $405,016 |
| Annual Per SF | $28.93 |
| Taxes | |
|---|---|
| Annual | $50,469 |
| Annual Per SF | $3.60 |
| Operating Expenses | |
|---|---|
| Annual | $31,126 |
| Annual Per SF | $2.22 |
| Total Expenses | |
|---|---|
| Annual | $81,595 |
| Annual Per SF | $5.83 |
| Net Operating Income | |
|---|---|
| Annual | $323,421 |
| Annual Per SF | $23.10 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,000 SF
Building Class
C
Year Built
1955
Price
$4,350,000
Price Per SF
$310.71
Cap Rate
7.43%
NOI
$323,421
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.63
Lot Size
0.51 AC
Zoning
C1AA
Parking
25 Spaces (2.14 Spaces per 1,000 SF Leased)
Frontage
85’ on N Palm Canyon Dr
AMENITIES
- Restaurant
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Group 360 Inc
- Public Administration
- -
- -
- -
- Re Fresh Gallery
- -
- -
- -
- -
- Three Sixty North, Lounge + Restaurant
- Accommodation and Food Services
- -
- -
- -
- Tony's Pasta Mia
- Retailer
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Group 360 Inc | Public Administration | - | - | - | ||
| Re Fresh Gallery | - | - | - | - | ||
| Three Sixty North, Lounge + Restaurant | Accommodation and Food Services | - | - | - | ||
| Tony's Pasta Mia | Retailer | - | - | - |
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 513-081-009 | Total Assessment | $1,968,491 |
| Land Assessment | $604,097 | Annual Taxes | $50,469 ($3.60/SF) |
| Improvements Assessment | $1,364,394 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
513-081-009
Land Assessment
$604,097
Improvements Assessment
$1,364,394
Total Assessment
$1,968,491
Annual Taxes
$50,469 ($3.60/SF)
Tax Year
2025
1 of 17
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
360-368 N Palm Canyon Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.