431 South Palm Canyon Dr Palm Springs, CA 92262

Located at 431 S. Palm Canyon Drive, this two-story building offers 15,107 square feet of space. Originally constructed in 1960 as a Wells Fargo Bank with a drive-through and second-floor office suites, the property presents an opportunity for an owner/user to occupy the entire first floor of 6,958 square feet. The current tenant, HomeSmart, occupies the first floor with a lease ending on 04/30/2022, with no options to extend. The second floor comprises eight units of varying sizes and uses. Situated in the old financial block of downtown Palm Springs, the property benefits from recent investments and changes in the area, including the redevelopment of the historic JW Robinson Department store into a multi-tenant property featuring restaurants, bars, entertainment venues, BevMo, and Orange Theory. The location is south of the high-traffic bar-hopping zone, offering dynamic redevelopment possibilities. Adjacent to the property is the Eisenhower Health Center, which underwent a major overhaul of its 14,152 square foot property in 2013. The area has transformed into a mixed-use district with retail, office, medical, and financial services, including restaurants, bars, and venue spaces. The property offers potential to increase the size of the first floor by utilizing excessive driveway entrances to add square footage. Opportunities exist to add storefronts on Palm Canyon Drive in place of the former bank drive-through lanes, standardize leasing forms, synergize with the neighboring Eisenhower Health building, explore new leasing strategies to increase income, and redevelop the property, particularly with condominiums above restaurant/bar/retail spaces.