Mid-Century Retail
707 745 Palm Canyon Drive, Palm Springs, CA 92262
For Sale
New
$4,400,000
Restaurant and gallery retail tenants occupy a Palm Springs property with preserved travertine finishes.
Property Size8,830 SF
Lot Size0.72 Acres
Price / SF$498.30
Days on Market2
Property Features for 707 745 Palm Canyon Drive
General Information
Standard status
Size
Lot size
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Anchor Co-Tenants
Amenities
private parking lot
Building Details
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Realty Trust
(951) 226-5454
Listed By:
Luca Volpe (lucarealtytrust@icloud.com) · License #02037333
(760) 808-3756
Source:
Mrmurrieta
Added: Nov 6
Last Checked: Nov 6 at 7:33AM
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
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Investment Insights
Based on property information with market context.
This 8,830-square-foot retail and restaurant building occupies a 0.72-acre parcel at 707 Palm Canyon Drive in Palm Springs. Designed in 1962 by John Porter Clark and Albert Frey, the property retains travertine walls and other interior features associated with its earlier life as a bank and art gallery. The building is known locally as the Turonnet Building.
Current occupants include TRIO Restaurant and The SHAG store and art gallery. TRIO uses three suites: 707, 715 and 725, with the 725 suite subleased to Time+Space Limited. The property sits in Palm Springs’ Uptown Design District.
Current occupants include TRIO Restaurant and The SHAG store and art gallery. TRIO uses three suites: 707, 715 and 725, with the 725 suite subleased to Time+Space Limited. The property sits in Palm Springs’ Uptown Design District.
Key Highlights
- 8,830‑square‑foot retail and restaurant building
- 0.72‑acre parcel
- Designed in 1962 by John Porter Clark and Albert Frey
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,567
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,340
$2.5M
Cap Rate 7%
$1,808,100
$1.8M
Cap Rate 9%
$1,406,300
$1.4M
Market Conditions
NOI Build-Up for 8,830 SF
Gross rent
$190.7K $21.60/SF
− Vacancy
−$9.9K −$1.12/SF
EGI
$180.8K $20.48/SF
− OpEx
−$54.2K −$6.14/SF
NOI
$126.6K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,340
Cap Rate 7%
$1,808,100
Cap Rate 9%
$1,406,300
Alternative Uses
Best Use
Retail
$1.81M
$1.58M – $2.11M
NOI $126,567 @ 7.0% cap · market cap 2.88%
Second Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,337 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$2.65M
$2.31M – $3.09M
NOI $185,172 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,036
Businesses Nearby
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Business Placement
Demographics for 92262, CA
26,593
Population
19,940
Households
1.3
Avg Household Size
54
Median Age
42%
College-Educated
93%
High-School Grad
35.1 sq mi
ZIP Area
758
Density / Sq Mi
$70,514
Median Household Income
$42,940
Median Earnings
$1,420
Median Rent
$600,600
Median Home Value
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Market
Average Price Trend$/SF for Retail space in Riverside County, CA
Properties on Market for Retail space in Riverside County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Restaurant and gallery retail tenants occupy a Palm Springs property with preserved travertine finishes.
Where is this retail space located?
The property is located at 707 745 Palm Canyon Drive Palm Springs, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 8,830‑square‑foot retail and restaurant building; 0.72‑acre parcel; Designed in 1962 by John Porter Clark and Albert Frey
