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Mixed-Use Investment in Downtown Palm Springs

360 Palm Canyon Dr, Palm Springs, CA 92262

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For Sale

$3,995,000

Mixed-use property with retail and residential units in prime location.

Type:Commercial

Property size:

14,078 SF

Price / SF:

$283/SF

Listing Contact

Paul Matusik

Real Estate License ID: 01351021

HighLights

Prime location on Palm Canyon Drive in Downtown Palm Springs, a premier pedestrian corridor with high visibility and foot traffic.
Mixed‑use property with 9 apartment units (6 1bed/1bath and 3 studios) and 2 ground‑floor retail suites.
Strong demographics with an average household income exceeding $99,000 within three miles and 14 million annual visitors to the Coachella Valley.
Adjacent to the newly developed 168‑room Thompson Hotel and within walking distance to major attractions.
Proforma Cap Rate of 6.81% possible within 12 months.
Close proximity to Palm Springs International Airport (less than 10 minutes away).

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For Sale

$3,995,000

Mixed-use property with retail and residential units in prime location.

Type:Commercial

Property size:

14,078 SF

Price / SF:

$283/SF

Added:: Apr 24, 2026
Days on Market:: 49
Last Refresh:: Apr 24 at 4:07 pm

Property Features for 360 Palm Canyon Dr

General Information

Standard status: Active
Size: 14,078 SF
Property subtype: Commercial

Building Details

Year Built: 1955

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Listing Contact

Paul Matusik

Listing agent Paul Matusik License #01351021

Listing office Prime Net Lease

Listing date Apr 24, 2026

Source Elliman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Prime Net Lease

HighLights

Prime location on Palm Canyon Drive in Downtown Palm Springs, a premier pedestrian corridor with high visibility and foot traffic.
Mixed‑use property with 9 apartment units (6 1bed/1bath and 3 studios) and 2 ground‑floor retail suites.
Strong demographics with an average household income exceeding $99,000 within three miles and 14 million annual visitors to the Coachella Valley.
Adjacent to the newly developed 168‑room Thompson Hotel and within walking distance to major attractions.
Proforma Cap Rate of 6.81% possible within 12 months.
Close proximity to Palm Springs International Airport (less than 10 minutes away).

Overview

This mixed-use property, located in Downtown Palm Springs, California, offers a blend of retail and residential spaces. The property, with a total area of approximately 14,078 square feet, features 9 apartment units (6 one-bedroom/one-bath units and 3 studios) and 2 ground-floor retail suites. Situated along Palm Canyon Drive, the property benefits from high visibility and foot traffic due to its proximity to restaurants, boutiques, hotels, and entertainment venues. The location is adjacent to the Thompson Hotel and within walking distance of the Palm Springs Art Museum, Agua Caliente Cultural Plaza, and the Palm Springs Convention Center. The surrounding area has an average household income exceeding $99,000 within a three-mile radius and attracts over 14 million annual visitors to the Coachella Valley. Palm Springs International Airport, located less than 10 minutes away, serves over 3 million passengers annually. The property has a bike score of 56, indicating it is bikeable, a walk score of 76, indicating it is very walkable, and a transit score of 36, indicating some transit options are available. The property presents a value-add opportunity in a resort market.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$422.3k	$30.00
− Vacancy	−$8.0k	−$0.57
EGI	$414.3k	$29.43
− OpEx	−$186.4k	−$13.24
NOI	$227.9k	$16.19

14,078 SF · lease $30.00/SF/yr · vacancy 1.90% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.26M

$2.85M – $3.80M (±1% cap)

NOI $227,874 @ 7.0% cap · market cap 5.70%

Second Best

Retail

$2.88M

$2.52M – $3.36M (±1% cap)

NOI $201,791 @ 7.0% cap · market cap 5.05%

Theoretical Best

Office A

$4.22M

$3.69M – $4.92M (±1% cap)

NOI $295,227 @ 7.0% cap · market cap 7.39%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Palm Springs
County: Riverside
State: California
Longitude: -116.54655
Latitude: 33.827837

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For sale
Mixed-use properties
CA
Palm Springs
92262
360 Palm Canyon Dr

What type of property is this?

Mixed-use property - Mixed-use property with retail and residential units in prime location.

Where is this mixed-use property located?

The property is located at 360 Palm Canyon Dr Palm Springs, CA.

What is the asking price?

The asking price for this property is $3,995,000.

What are key features of this property?

This property features: Prime location on Palm Canyon Drive in Downtown Palm Springs, a premier pedestrian corridor with high visibility and foot traffic.; Mixed‑use property with 9 apartment units (6 1bed/1bath and 3 studios) and 2 ground‑floor retail suites.; Strong demographics with an average household income exceeding $99,000 within three miles and 14 million annual visitors to the Coachella Valley.