1570-1590 S Palm Canyon Dr - Storefront FOR SALE


Palm Springs, CA 92264
$2,075,000 USD
760-837-1880
1570-1590 S Palm Canyon Dr, Palm Springs, CA for Sale
$2,075,000 USD
Storefront - FOR SALE
1/8
null | 5.07% Cap Rate

1570-1590 S Palm Canyon Dr
Palm Springs, CA 92264


HIGHLIGHTS

  • Fee Simple Land
  • 100% Occupied
  • Upside in Rents
  • Being Offered at Well Below Replacement Cost
  • Same Ownership for Over 30 Years

OVERVIEW

Wilson Meade CRE is pleased to present the opportunity to acquire 1570-1590 S. Palm Canyon, Palm Springs, CA. This multi-tenant retail property comprises seven fully occupied suites, offering new ownership stabilized tenancy and a history of low vacancy rates. The property is located on South Palm Canyon, one of the primary thoroughfares in the Coachella Valley, which sees an average daily traffic count of approximately 28,000 vehicles. This high-traffic location also provides ample parking, with 48 spaces available behind the building. The Palm Springs area benefits from strong demographics, with an approximate population of 79,074 residents within a five-mile radius of the property. Additionally, Palm Springs attracts 14.1 million visitors annually, reflecting the city’s robust tourism industry, which significantly contributes to the local economy and supports numerous businesses, including those occupying the subject property. This offering presents a prime opportunity to acquire Palm Springs real estate at well below replacement cost and market comparables on a price-per-square-foot basis, with potential upside for new ownership to increase rents to market rates.

FOR SALE DETAILS

PRICE

$2,075,000 USD

PRICE/SF

$227 USD /SF

CAP RATE

5.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

CROSS STREETS

Avendia Olancha E

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

C-1

APN/PARCEL ID

508-345-006

ASK ABOUT THIS PROPERTY

Heath WilsonWilson Meade Commercial Real EstateMore Info
760-837-1880

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Heath WilsonWilson Meade Commercial Real EstateMore Info
760-837-1880

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.