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    Property profile & analytics

    262 Palm Canyon Dr Palm Springs, CA 92262

    • Turn key restaurants
    • 11,246 SF
    • 0.17 lot acres
    For Lease
    View listing
    $42 SF/Yr
    Last Sale
    Mar 17, 2022
    $5,000,000
    Value Estimations
    $4,925,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2891830
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sol Agave - Palm Springs / Mexican Restaurant
    • Rooftop 262 Bar & Grill / Night Club
    • bar 1 / Bar
    • Broken Yolk Cafe Palm Springs / Breakfast Restaurant / Brunch Restaurant

    Property Details for 262 Palm Canyon Dr

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    11,246 SF
    Zone code
    C1
    Property type
    Turn key restaurants
    APN
    513-154-017
    APU
    513154017

    Description

    This exceptional 6,226 square foot restaurant space is located in a Class B, two-story building totaling 11,882 square feet. Situated in Riverside County, near Baristo Road, this property boasts a prime location in the Coachella Valley, known for its exceptionally high foot traffic. The building itself is of quality steel-frame construction and offers outstanding signage opportunities. A significant advantage is the mid-block, signalized pedestrian crosswalk directly connecting the property to a vibrant cluster of bars and restaurants across the street, maximizing pedestrian access and visibility. This area generates over $50 million in annual food and beverage sales, as reported to the IRS, underscoring its exceptional commercial viability. The property is currently configured as a multi-tenant space, with a minimum divisible unit of 6,226 square feet. All furniture, fixtures, equipment, and a Type 47 full liquor license are available for separate purchase at $599,000, presenting a turnkey opportunity for a discerning buyer. This is a rare chance to acquire a high-performing retail space in one of the most desirable locations in the Coachella Valley.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,925,000
      ML approach
      $4,835,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $6,980,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.546
    Latitude
    33.8202
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $67,245
    $520,200
    $4,681,800
    $5,202,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      664 Palm Cyn Dr Ste A

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      190 Sunrise Way

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      490 Palm Cyn Dr

      RESTAURANT • 15,345 SF
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      View Details
    • Value Estimation
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      424 Indian Cyn Dr

      RESTAURANT • 8,037 SF
      424 Indian Cyn Dr, Palm Springs, CA 92262-7806
      View Details
    • Value Estimation
      $495,000
      6,260 SF

      222 Palm Cyn Dr

      RESTAURANT • 6,260 SF
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      View Details

    Similar Nearby for Sale

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      Palm Springs Retail/Restaurant Opportunity

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      View Details
    • $1,100,000
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      Palm Springs Retail/Restaurant Opportunity

      2494sf freestanding retail/restaurant in Palm Springs' Central Business District.
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    • $1,500,000

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      Developed lot leased to the City of Palm Springs.
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    • $2,500,000

      Palm Springs Retail Building For Sale

      Fully occupied retail building near Palm Springs City Center.
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      Developed Lot Leased to City

      Developed property leased to the City of Palm Springs.
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    • $1,200,000
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      Palm Springs Industrial Warehouse

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    Similar Nearby for Lease

    • $42 SF/Yr
      11,882 SF

      Coachella Valley Restaurant Space

      Prime Retail, 6,226 SF Available
      262 Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    • $1.50 SF/Yr
      37,334 SF

      Retail Building with Drive Thru

      Free-standing retail building with drive-thru, move-in ready condition.
      111 South Sunrise Way, Palm Springs, CA 92262
      View Details
    • $15 SF/Yr
      9,000 SF

      Prime I-10 Mixed-Use Property

      9,000 SF Flex Space, 12 Acres
      3301 Micro Pl, Palm Springs, CA 92262
      View Details
    • $3 SF/Yr
      124,636 SF

      Palm Springs Retail Space Available

      Retail space for lease in a high-traffic Palm Springs shopping center.
      5200 Ramon Rd, Palm Springs, CA 92262
      View Details
    • $1.30 SF/Yr
      2,000 SF

      Palm Springs Flex Space Available

      Multi-tenant building with flexible zoning and minimal office space.
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      View Details
    • $8,400 /Mo
      522,720 SF

      Palm Springs Industrial Land Opportunity

      12-Acre Commercial/Industrial Land, I-10 Access
      3301 Micro Pl, Palm Springs, CA 92262
      View Details
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    Palm Springs, CA 92262
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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.

    More about this property
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