500 Indian Canyon Dr Palm Springs, CA 92264
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High-yield, single-tenant bank property.
Property size:
8,214 SFProperty 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
Listing Agent: Arthur Flores
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Union Bank
Bank
U.S. Bank Branch
Bank
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.
