Iconic Palm Springs Landmark
600 750 Tahquitz Canyon Way Palm Springs, CA 92262
For Sale
$11,000,000
Restored mixed-use property with high occupancy in downtown Palm Springs.
Property Size32,000 SF
Lot Size3.35 Acres
Price / SF$343.75
Days on Market94
Property Features for 600 750 Tahquitz Canyon Way
General Information
- Standard status
- Active
- Size
- 32,000 SF
- Lot size
- 3.35 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1973
Listing Agency:
Realty Trust
(760) 333-7578
Listed By:
Scott Timberlake
(760) 333-7578
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 10:32AM
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 Realty Trust
Investment Insights
Based on property information with market context.
Kaptur Plaza, an iconic Palm Springs landmark, was completely restored in 2018, including all mechanical, plumbing, electric, and new roofs. The property is a featured destination on the Historic Register for award-winning design and architecture by renowned Mid-Century architect, Hugh Kaptur. The Mills Act is in place, significantly reducing annual property taxes. The property consists of two parcels with approximately 32,000 square feet of interior space and 145,926 square feet of fee-simple land in the heart of downtown Palm Springs. This prime 3.35 acres of fee-simple land is strategically located in Section 14 along the Tahquitz Corridor. Zoning allows for mixed uses, including office, retail, and medical. Featured tenants include Koffi, Revive Wellness, and V Wine Lounge. On-site professional property management is provided by Realty Trust, Asset Management. The property is fully leased with constantly high occupancy rates and diversified uses, including executive suites with a receptionist and shared amenities. New construction is planned to start in 2027 behind Kaptur Plaza by Nexus Development, which will include high-rise condominiums and a luxury hotel. The property has a bike score of 80, making it very bikeable, a walk score of 69, making it somewhat walkable, and a transit score of 34, indicating some transit options.
Key Highlights
- Iconic Palm Springs landmark designed by renowned Mid‑Century architect Hugh Kaptur, featured on the Historic Register.
- Prime 3.35 Acres of Fee Simple land in the heart of downtown Palm Springs on the Tahquitz Corridor.
- Significant property tax reduction due to Mills Act.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $733.4k | $22.92 |
| − Vacancy | −$63.1k | −$1.97 |
| EGI | $670.4k | $20.95 |
| − OpEx | −$167.6k | −$5.24 |
| NOI | $502.8k | $15.71 |
32,000 SF · lease $22.92/SF/yr · vacancy 8.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.18M
$6.28M – $8.38M
NOI $502,773 @ 7.0% cap · market cap 4.57%
Second Best
Retail
$6.55M
$5.73M – $7.64M
NOI $458,680 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$9.59M
$8.39M – $11.18M
NOI $671,066 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. Allan Wu, ...
Physician
Shonda Chase, Family ...
Registered General Nurse
Sandra Quinn - Realtor
Real Estate Agency
V Wine Lounge ...
Restaurant
BANFIELD REAL ESTATE ...
Real Estate Agency
FAQs
What type of property is this?
Mixed-use property - Restored mixed-use property with high occupancy in downtown Palm Springs.
Where is this mixed-use property located?
The property is located at 600 750 Tahquitz Canyon Way Palm Springs, CA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Iconic Palm Springs landmark designed by renowned Mid‑Century architect Hugh Kaptur, featured on the Historic Register.; Prime 3.35 Acres of Fee Simple land in the heart of downtown Palm Springs on the Tahquitz Corridor.; Significant property tax reduction due to Mills Act.
