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US Bank 500 S Indian Canyon Dr 8,214 SF Retail Building Palm Springs, CA 92264 $3,610,018 ($439.50/SF) 7% Cap Rate
Investment Highlights
- NNN Lease - US Bank maintainins all aspects of the property
- Strong Branch Deposits - per the FDIC’s website, US Bank has over $76,000,000 in deposits at this location
- Walkability - steps from downtown and surrounded by upscale condos, boutique hotels, and retail, the parcels benefit from exceptional walkability
- Future Development Parcels - The property consists of one (1) large commercial parcel occupied by US Bank, and two (2) additional residential parcel
- Highly Visible Location - at a signalized corner along S. Indian Canyon Drive, one of the most highly-traveled commercial intersections
Executive Summary
Trophy NNN-leased US Bank with drive-thru at a premier Palm Springs location. The property features strong in-place income, exceptional visibility, and two adjacent R2-zoned residential parcels, offering investors a unique combination of stability, appreciation, and future development upside.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
8,214 SF
Building Class
C
Year Built
1978
Price
$3,610,018
Price Per SF
$439.50
Cap Rate
7%
NOI
$252,701
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.83 AC
Zoning
C1, Palm Springs - Commercial
Parking
40 Spaces (4.87 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 508-121-001 | Improvements Assessment | $3,313,090 |
| Land Assessment | $943,725 | Total Assessment | $4,256,815 |
Property Taxes
Parcel Number
508-121-001
Land Assessment
$943,725
Improvements Assessment
$3,313,090
Total Assessment
$4,256,815
Contacts
-
Jay Gomez -
Kyle Kaye -
Arthur Flores -
James Kaye -
Darren Fitch -
Pablo Rodriguez -
CBRE, Inc.
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