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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Turn key restaurants
238 Palm Cyn Dr Palm Springs, CA 92262-5510
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-2935674
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1964
Construction
WOOD
Total area
3,163 SF
Lot
0.17 ac (7,405 SF)
Zoning code
C1
APN
513-091-011
UPID
US09-2935674
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
-
Shamrocks Irish Pub Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.50M
Owner & transaction history
Mcmr Properties LLC · 1 yrs held
Mcmr Properties LLC
since 2024
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
C1 · Palm Springs, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.2M
+64.9%
Neighborhood: shopping center
$2.7M
+38.7%
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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,965,000
Current use
COMMERCIAL (GENERAL)
$3,240,000
Change: +65% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,725,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.50M (Oct 8 2024)
Last sale anchor
$2.50M
Oct 8 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
$790 / 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
$34,920
Tax year 2024
Assessed value
$2,788,795
Assessed 2024
Previous assessed
$2,788,795
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$557,758
Assessed improvement
$2,231,037
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1964
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Units
2
Total area
3,163 SF
Lot
0.17 ac (7,405 SF)
Zoning code
C1
APN
513-091-011
UPID
US09-2935674
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
RESTAURANT Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1964
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Units
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Mcmr Properties LLC
Entity
Mailing address
238 N PALM CYN DR, PALM SPRINGS, CA 92262-5510
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2024
—
Mcmr Properties LLC
Mcmr Properties LLC
Intrafamily Transfer
related
$1,020,000 · Meadows Bank
May 23, 2024
—
John Oliver Park
John O Park
Intrafamily Transfer
related
—
Oct 25, 2022
—
John O Park
Shelly Marie Park
Intrafamily Transfer
related
—
Jun 29, 2018
—
Mcmr Properties LLC
Burston Palm Springs Prop Ptsh
Quit Claim Deed
—
Jun 29, 2018
$2,500,000
Mcmr Properties LLC
Charles Harold Grone
Grant Deed
$2,322,500 · Meadows Bank
Oct 15, 2010
—
Goldring Judy J Trust
Goldring,judy J
Quit Claim Deed
related
—
Mar 15, 2004
—
Goldring,judy J
Goldring,tr
Quit Claim Deed
related
—
Aug 24, 1999
—
Burston,herschel Etux
Burston,herschel Etal
Quit Claim Deed
related
—
Oct 6, 1998
—
Burston,herschel Etal
Burston,herschel H Etux
Quit Claim Deed
related
—
Jan 20, 1993
$1,140,913
Lewis Goldring
Arie Sipporah
Trustees Deed
related
—
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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