Former Saks Fifth Avenue
490 S Palm Canyon Dr, Palm Springs, CA 92262
Iconic downtown Palm Springs landmark with redevelopment potential.
Type:Retail
- Added:
- Mar 5, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 8:24 pm
Property Features for 490 S Palm Canyon Dr
General Information
- Standard status
- Active
- Property subtype
- Retail
Building Details
- Year Built
- 1959
Listing agent Michael Lyle License #CalDRE #02002995 (760) 774-6533
Listing office Coldwell Banker Commercial Lyle & Associates (760) 774-6533
Listing date Mar 5, 2026
Source Cbclyle
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
HighLights
- Irreplaceable downtown location at a prime intersection with high visibility and pedestrian traffic.
- Rare opportunity for adaptive reuse with a large, open floor plan and significant signage potential.
- Below‑market pricing offers substantial upside for developers and investors.
- Unique mid‑century architectural pedigree as the former Saks Fifth Avenue building, across from the historic Chase Bank.
- Located in Palm Springs' only upzoned district, allowing for increased height and density.
- City of Palm Springs is supportive of creative redevelopment and open to incentive discussions.
Overview
The iconic former Saks Fifth Avenue building, a downtown Palm Springs landmark, is located at the NEC of South Palm Canyon Drive and Ramon Road. Originally built for Saks Fifth Avenue, the property is a Palm Springs architectural statement. It features prominent corner visibility where cross-traffic consistently stops, maximizing exposure. The large, open floor plan is ideal for creative adaptive reuse, and there is expansive signage potential, offering an unmatched branding opportunity in the downtown core. The building has a unique mid-century pedigree and is located across from the historic Chase Bank. Potential uses include a high-end showroom, boutique nightclub or entertainment venue, medical or wellness use, co-working or creative office space, or destination retail. The property is situated at a prime downtown intersection, visible from multiple approaches including Palm Canyon and Ramon Road, and across from architectural icons such as the Chase Bank building and the “500 Building.” It is adjacent to future redevelopment, with a proposed hotel project planned across the intersection. The property is located within Palm Springs’ only upzoned district, allowing height and density up to 4 stories. It is walkable to downtown hotels, restaurants, and entertainment corridors. The vacancy presents a clean slate for design, reconfiguration, and modernization.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Places Nearby
- hermano flower shop — 383 N Indian Canyon Dr, Palm Springs, CA 92262
Location Insight
- Map
- Local Demand
- City
- Palm Springs
- County
- Riverside
- State
- California
- Longitude
- -116.546
- Latitude
- 33.8161
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Iconic downtown Palm Springs landmark with redevelopment potential.
Where is this storefront property located?
The property is located at 490 S Palm Canyon Dr Palm Springs, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Irreplaceable downtown location at a prime intersection with high visibility and pedestrian traffic.; Rare opportunity for adaptive reuse with a large, open floor plan and significant signage potential.; Below‑market pricing offers substantial upside for developers and investors.
