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    500 Indian Canyon Dr Palm Springs, CA 92264

    Sponsored
    For Sale
    $4,557,700

    High-yield, single-tenant bank property.

    Property size:
    8,214 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple, stabilized retail property occupied by US Bank under a NNN lease with 5.1 years remaining until the initial lease expiration, plus two five-year renewal options. The 8,214 square foot building, constructed in 1959, sits on a 0.88-acre lot in a prime Palm Springs location at 500 S Indian Canyon Dr, 92264, within Riverside County, and zoned C1. The property boasts a strong 5.00% cap rate, generating a net operating income (NOI) of $227,885. The asking price is $4,557,700. The lease includes 3% annual rent increases, providing consistent income growth. The tenant, US Bank, has a credit rating and has occupied the site for over two decades. This drive-thru location features five points of ingress and egress, and enjoys high visibility at a signalized intersection. The NNN lease structure eliminates landlord responsibilities, with the tenant responsible for all property maintenance, including the roof, structure, and parking lot. The current rent is below market value for comparable spaces in the area. The property's proximity to downtown Palm Springs, with its thriving retail scene and upscale residential areas, further enhances its value. This is a truly exceptional opportunity for a passive income investment with significant upside potential.

    Property Features for 500 Indian Canyon Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,214 SF
    Lot Size
    38,333 SF

    Building Details

    Year Built
    1959
    Buildings
    1

    HighLights

    • NNN Lease: Zero landlord responsibilities; tenant responsible for all property maintenance, including roof, structure, and parking lot.
    • Drive‑Thru Location: Five points of ingress and egress for optimal traffic flow.
    • Below Market Rent: Current rent is $2.60/SF, below market average of $3.00/SF.
    • Prime Palm Springs Location: Walkable to downtown, near high‑end retail and residential areas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Union Bank Bank U.S. Bank Branch Bank

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.54555511396
    Latitude
    33.815680825717

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, single-tenant bank property.
    Where is this individual retail property located?
    The property is located at 500 Indian Canyon Dr Palm Springs, CA.
    What is the asking price?
    The asking price for this property is $4,557,700.
    What are key features of this property?
    This property features: NNN Lease: Zero landlord responsibilities; tenant responsible for all property maintenance, including roof, structure, and parking lot.; Drive-Thru Location: Five points of ingress and egress for optimal traffic flow.; Below Market Rent: Current rent is $2.60/SF, below market average of $3.00/SF.
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    500 Indian Canyon Dr Palm Springs, CA 92264
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    Palm Springs, CA 92264
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    500 Indian Canyon Dr Palm Springs, CA 92264
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