Palm Springs Downtown Retail Building for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30169876
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 6,220 SF
Gross Building Area: See Agent
Sale Price: $3,000,000
Unit Price: $482.32 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.34%
Last Updated: 2/9/2018

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 Shop
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. This fall, the second buildings will be opening which will feature Tommy Bahama, 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
Tax ID/APN: 513-091-011
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
Year Built: 1950
Total Parking Spaces: 12
Parking Type: Surface, Other
Parking Description: 12+ City lot adjacent
Zoning Description: C-1 Commercial

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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