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Property profile & analytics
OFF-MARKET
Estimated value
$6,125,000
Hotels
2323 Palm Cyn Dr Palm Springs, CA 92262-2835
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-4218532
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1961
Construction
WOOD
Total area
11,832 SF
Lot
0.91 ac (39,639 SF)
Zoning code
C1
APN
504-224-025
UPID
US09-4218532
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Chef Frederic International Food And Beverage Consultant
-
Sonder Lum Hotel & Motel
-
The Cole Hotel Events Hotel & Motel
-
Freddies Kitchen at the Cole Restaurant
-
The Cole Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.03M
Blend (final)
Blend
$6.13M
Owner & transaction history
Reit 2323 F&b LLC · 1 yrs held
Reit 2323 F&b LLC
since 2024
Last sale
$6.1M
6 recorded transactions
Zoning & alternative use
C1 · Palm Springs, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$10.2M
+1.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Palm Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$6,125,000
ML approach
$6,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$10,040,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$10,185,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$6.13M
Range $5.51M – $6.74M · ±10% · vs last sale $6.13M (Aug 21 2024)
Last sale anchor
$6.13M
Aug 21 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$518 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$53,066
Tax year 2024
Assessed value
$4,002,333
Assessed 2024
Previous assessed
$4,002,333
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$881,258
Assessed improvement
$3,121,075
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1961
Construction
WOOD
Heating
NONE
Stories
2
Total area
11,832 SF
Lot
0.91 ac (39,639 SF)
Zoning code
C1
APN
504-224-025
UPID
US09-4218532
Jurisdiction
RIVERSIDE
Zoning & alternative use
C1 · Palm Springs, CA
Zoning C1 · permitted uses
C1 · Palm Springs, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$10.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.2M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1961
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.91 ac
Current owner
From public records · entity-resolved
Reit 2323 F&b LLC
Entity
Mailing address
550 E DEVON AVE STE #110, ITASCA, IL 60143-2637
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2024
$6,125,000
Reit 2323 F&b LLC
The Cole Motor Lodge LLC
Grant Deed
$10,000,000 · Millennium Bank
May 7, 2019
—
Cole Motor Lodge LLC
Cole Motor Lodge LLC
Quit Claim Deed
related
—
Jun 14, 2018
$383,182
Cole Motor Lodge LLC
Zadeh,homan A
Grant Deed
$3,968,500 · Calprivate Bk
Mar 5, 2003
$125,000
Homan A Zadeh
Cunningham,daniel
Grant Deed
—
Mar 5, 2003
—
Abbas A Zadeh
Zadeh,homa A
Quit Claim Deed
related
$85,000 · Palm Oaks Properties LLC
Mar 24, 1997
$101,040
Paul Bescos
Heinrich,katrina
Trustees Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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