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    Iconic Mid-Century Modern Commercial Building Title is generated by Realmo AI

    850 N Palm Canyon Drive, Palm Springs, CA 92262

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    For Lease
    $17,778/Mo $51 SF/Yr (calc)

    COMMERCIAL - Palm Springs, CA

    Property size:
    4,180 SF
    Lot size:
    0.18 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    61
    Last Refresh:
    May 15 at 2:06 pm

    Property Features for 850 N Palm Canyon Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Covered, Offsite, On Street, Parking Lot
    Exterior features
    Lighting
    Standard status
    Active
    APN
    505285005
    Size
    4,180 SF
    Lot size
    0.18 Acres

    Building Details

    Year built
    1968
    Roof type
    Flat, Foam

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    Listing Contact
    Slavyan S Panayotov

    Listing agent Slavyan S Panayotov

    Listing office Windermere Real Estate 73725 El Paseo Drive #23A, Palm Desert, CA

    Listing date Mar 16, 2026

    MLS# 219144885

    Copyright © 2026 California Desert Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the heart of the Uptown Design District.
    • Iconic mid‑century modern building with architectural significance as the former studio of designer Arthur Elrod.
    • Currently leased to a national tenant, providing immediate income potential.
    • Rare private on‑site parking lot in the Uptown district.
    • Excellent street visibility and natural light from large floor‑to‑ceiling storefront windows along Palm Canyon Drive.
    • Extensive tenant improvements completed, ready for immediate occupancy.

    Overview

    Located in the heart of the renowned Uptown Design District in Palm Springs, this iconic, standalone mid-century modern commercial building offers a rare opportunity. The landmark property at 850 N. Palm Canyon Drive was formerly the design studio of celebrated Palm Springs designer Arthur Elrod and retains architectural elements that reflect the area's distinctive modernist heritage. The building has undergone extensive tenant improvements and is currently occupied by a national tenant, highlighting the property's strong appeal for established retailers and professional users. Large floor-to-ceiling storefront windows provide exceptional visibility and natural light along highly trafficked Palm Canyon Drive. The interior features high ceilings, a spacious reception area, and a distinctive pewter metal entry door. The property also includes a private on-site parking lot, providing convenient access for staff and visitors. The 0.18-acre property offers 4,180 square feet of space and is ideal for a high-end retail brand, showroom, gallery, medical practice, or professional office. This is a unique opportunity to occupy a landmark commercial property in one of Palm Springs' most vibrant retail and design corridors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shirley McLaughlin, Bennion ... Real Estate Agency The Webster Clothing Store Cal Metro Mortgage ... Loan Service Royalty Solar Panels ... Solar Energy Company Anna Gaydos | Bennion ... Real Estate Agency

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • Flooring Innovations — 1050 N Palm Canyon Dr, Palm Springs, CA 92262
    • Rug & Loom — 673 N Palm Canyon Dr Suite B, Palm Springs, CA 92262
    • BLUE STEAM TILE & STONE RESTORATION INC — W Vereda Norte, Palm Springs, CA 92262

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.546397
    Latitude
    33.83474

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    FAQs

    What type of property is this?
    Showroom - Landmark property in Uptown Design District, Palm Springs.
    Where is this showroom located?
    The property is located at 850 N Palm Canyon Drive Palm Springs, CA.
    What is the lease rate?
    The lease rate is $17,778 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of the Uptown Design District.; Iconic mid‑century modern building with architectural significance as the former studio of designer Arthur Elrod.; Currently leased to a national tenant, providing immediate income potential.
    (760) 408-4824
    We can help!
    Listing Contact
    Slavyan S Panayotov
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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