353 S Palm Canyon Dr - Medical FOR SALE


Palm Springs, CA 92262- Downtown Palm Springs
$2,950,000 USD
760-333-7578
353 S Palm Canyon Dr, Palm Springs, CA for Sale
$2,950,000 USD
Medical - FOR SALE
1/66
null | 6.56% Cap Rate

353 S Palm Canyon Dr
Palm Springs, CA 92262
Downtown Palm Springs


HIGHLIGHTS

  • Fantastic Downtown Location
  • Cannabis License Transfer

OVERVIEW

Exceptional property and Downtown Palm Springs location. No land lease, Fee Simple. ownership. Two story structure including a private off street parking lot and elevator. Highly upgraded Dispensary on the main floor and Cannabis Lounge on the second floor. All office / Retail leasing options available. Owner / Tenant will vacate at closing. Cannabis license can be transferred! NO NEW Licenses issued until after 12/31/2027.Commercial Financing options are available but limited for its current use. City planning to restrict / limit Palm Springs licenses in 2028, considering 10 as the limit. Private financing possible with a substantial downpayment in excess of 50%. Highly upgraded with newer mechanical systems, high end interior and exterior improvements, upgrades and finishes. Expansive outdoor space with exceptional mountain and city views. Excellent visibility, ADA compliant. Contact listing agent for Projected income and expense summary. Restricted access must contact listing agent for showing appointments. Please DO NOT disturb tenant.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$450 USD /SF

CAP RATE

6.56%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

CBD

APN/PARCEL ID

513-203-017

ASK ABOUT THIS PROPERTY

Scott TimberlakeRealty TrustMore Info
760-333-7578

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Scott TimberlakeRealty TrustMore Info
760-333-7578

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