500 Indian Cyn Dr Palm Springs, CA 92264-7436
Property profile & analytics
500 Indian Cyn Dr Palm Springs, CA 92264-7436
- Banks
- 8,979 SF
- 0.88 lot acres
Property ID
US09-0972416
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.
Location Intelligence
Current Use by Public Records
- Union Bank / Bank / Loan Service
- U.S. Bank Branch / Bank / Loan Service
Property Details for 500 Indian Cyn Dr
- Year built
- 1959
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.88 lot acres
- Property size
- 8,979 SF
- Zone code
- C1
- Property type
- Banks
- APN
- 508-121-001
- APU
- 508121001
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $680,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $919,000
Market price range: $640k - $1.31M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Palm Springs
- County
- Riverside
- State
- California
- Longitude
- -116.545
- Latitude
- 33.8155
- 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
$50,751
$907,080
$3,184,440
$4,091,520
-
$0.00
$0.00
$0.00
