Palm Springs Downtown Retail Building for Sale

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30169876
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Status: Pending
Building Size (RSF): 6,220 SF
Gross Building Area: See Agent
Sale Price: $3,000,000
Unit Price: $482.32 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 7.44%
Average Occupancy Rate: 100
Last Updated: 4/13/2018

Overview / Comments

A part of Palm Springs History, this was the
original location of Ruby Dunes during the 50’s
and 60’s, a favorite Frank Sinatra hangout. It is a
multi–tenant building with two businesses on Palm
Canyon Dr. and a newer addition extending east
built in the mid 70’s. Currently it is fully leased with
four tenants. The Hair of the Dog Saloon,
Marianne’s of Palm Springs, The Sandwich Spot
and Canyon Copy & Print. It is directly across the
street from the new downtown redevelopment by
Grit Development including the new Rowan
Kimpton Hotel, West Elm and Blaze Pizza. The
second buildings, which just opened last fall,
features Tommy Bahama, Johnny Was, Blondie,
Free People, H&M, MAC Cosmetics, Kiehls, II
Corso, and Starbucks Reserve. The Hyatt Hotel
is also directly across the street.

Attachments & Media

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Taxing Authority: Riverside County
Tax ID/APN: 513-091-011
Zoning: C-1 COMMERCIAL
Retail Clientele: General, Business, Tourist, Other
Property Located Between: N. Palm Canyon Dr and N. Indian Canyon Dr.
Property Visibility: Excellent
Largest Nearby Street: N. Palm Canyon Dr.
Highway Access: 10 Fwy
Airports: Palm Springs International
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1950
Year Renovated: 1980
Roof Type: Flat
Total Parking Spaces: 1
Parking Type: Surface, Other
Parking Description: City lot adjacent
Zoning Description: C-1 Commercial
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,341 38,584 81,699
Median Age: 50.67 49.47 42.78
Households: 4,151 19,307 33,902
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