500 S Indian Canyon Dr - Bank FOR SALE
Palm Springs, CA 92264 |
$4,557,700 USD
714-504-0262
500 S Indian Canyon Dr
Palm Springs, CA 92264
HIGHLIGHTS
- Zero Landlord Responsibilities - NNN lease with tenant maintaining all aspects of the property including roof, structure, parking lot and maintenance
- Drive-Thru Location - with five (5) public points of ingress & egress
- Below Market Rent - average in-place rent for similar space in the trade area exceeds $3.00/PSF, while current in-place rent with US Bank is $2.60/PSF
- Walkable distance to downtown Palm Springs; retail, boutique resorts, trendy restaurants, and elite neighborhoods, including notable retail tenants
OVERVIEW
Trophy Single-Tenant NNN Lease with US Bank (formerly Union Bank). US Bank has occupied this site for over 20 years and has Two (2) - Five (5) year options to renew. Per the FDIC’s website, this location has over $76 Million in deposits. This highly visible location at the signalized corner of E. Ramon Rd., and S. Indian Canyon Drive is one of the most highly-traveled commercial intersections in the trade area. There are zero Landlord responsibilities, due to the NNN lease, and the tenant maintains all aspects of the property including the roof, structure, parking lot and maintenance.
FOR SALE DETAILS
PRICE
$4,557,700 USD
PRICE/SF
$555 USD /SF
CAP RATE
5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
US Bank
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Bank
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
40
LAND DETAILS
LAND ACRES
0.88 AC
LAND SF
38,333 SF
ZONING
C1, Palm Springs
APN/PARCEL ID
508-121-001,508-121-012,508-121-013
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714-504-0262
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714-504-0262
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