Palm Springs Mixed-Use
431 441 & 477 S Palm Canyon Drive Palm Springs, CA 92262
431 441 & 477 S Palm Canyon Drive, Palm Springs, CA, 92262
$11,700,000
For Sale
$11,700,000
Prime South Palm Canyon Drive properties with redevelopment potential.
Property Size30,888 SF
Lot Size1.69 Acres
Price / SF$378.79
Days on Market133
Property Features for 431 441 & 477 S Palm Canyon Drive
General Information
- Standard status
- Active
- Size
- 30,888 SF
- Lot size
- 1.69 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1976
Listing Agency
Coldwell Banker Commercial Lyle & Associates
(760) 774-6533
Listed by
Michael Lyle · License #CalDRE #02002995
Source
Cbclyle
Added: Mar 5 Checked: Jul 16 at 6:24 am
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 Coldwell Banker Commercial Lyle & Associates
Investment Insights
Based on property information with market context.
This assemblage of office and retail properties fronts South Palm Canyon Drive in the old financial block of downtown Palm Springs. The block has experienced major investment and change over the past several years, including the redevelopment of the historic JW Robinson Department store building into a multi-tenant property with restaurants, bars, entertainment, BevMo, and Orange Theory. The block is just South of and contiguous to the high foot traffic bar hopping zone, offering dynamic redevelopment opportunities. Adjacent to this assemblage is the new Eisenhower Health Center, which overhauled the 14,152 square foot property in 2013. The area, formerly the banking/financial district of Palm Springs, has been reborn into a mixed-use area with retail including mid-century home furnishings, office, medical, financial services, restaurants, bars, and venue space. The three buildings total 30,888 square feet and have excellent frontage on South Palm Canyon Drive. This is a rare opportunity to acquire an assemblage of contiguous buildings on Palm Canyon Drive. Multiple value-add opportunities exist, including adding storefronts on Palm Canyon Drive to replace former bank drive-through lanes, standardizing leasing forms, synergizing with neighboring Eisenhower Health, constructing a new restaurant storefront with a second-story patio, redeveloping the 441 building parcel, exploring new leasing strategies, and redeveloping the entire 74,051 square foot assemblage of parcels. Condominiums above restaurant/bar/retail are in high demand. An owner/user opportunity exists for 5,000 square feet or larger with prime signage and ground floor frontage.
Key Highlights
- Prime location on South Palm Canyon Drive in a revitalized downtown Palm Springs block.
- Assemblage of three contiguous buildings totaling 30,888 sf, a rare opportunity.
- Multiple value‑add opportunities, including storefront additions, restaurant construction with patio, and redevelopment of parcels.
Local 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 | $708.0k | $22.92 |
| − Vacancy | −$60.9k | −$1.97 |
| EGI | $647.1k | $20.95 |
| − OpEx | −$161.8k | −$5.24 |
| NOI | $485.3k | $15.71 |
30,888 SF · lease $22.92/SF/yr · vacancy 8.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.93M
$6.07M – $8.09M
NOI $485,302 @ 7.0% cap · market cap 4.15%
Second Best
Retail
$6.32M
$5.53M – $7.38M
NOI $442,741 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$9.25M
$8.10M – $10.80M
NOI $647,747 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Diamond Palms
Garden Center
Www Aliapaula Com
Psychotherapist
Michael D Caruthers ...
Law Firm
Sallie Albertina, Wedding ...
Wedding Service
Mike Valerio Real ...
Real Estate Agency
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FAQs
What type of property is this?
Office building - Prime South Palm Canyon Drive properties with redevelopment potential.
Where is this office building located?
The property is located at 431 441 & 477 S Palm Canyon Drive Palm Springs, CA.
What is the asking price?
The asking price for this property is $11,700,000.
What are key features of this property?
This property features: Prime location on South Palm Canyon Drive in a revitalized downtown Palm Springs block.; Assemblage of three contiguous buildings totaling 30,888 sf, a rare opportunity.; Multiple value‑add opportunities, including storefront additions, restaurant construction with patio, and redevelopment of parcels.
