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Property profile & analytics
OFF-MARKET
Estimated value
$18,340,000
Office buildings
601 Tahquitz Cyn Way Palm Springs, CA 92262-6700
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3025957
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
TILT-UP CONCRETE
Total area
20,755 SF
Lot
0.75 ac (32,670 SF)
Zoning code
C1AA
APN
508-570-001
UPID
US09-3025957
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
-
Jeff Litton Real-Estate Group At HomesSmart Real Estate Agency
-
Pacific Western Bank Atm
-
Banc of California Bank Loan Service
-
Jeff Litton, HomeSmart Real Estate Agency
-
Samantha Clemons Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$18.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.34M
Owner & transaction history
Festival Plaza LLC · 2 yrs held
Festival Plaza LLC
since 2024
Last sale
$18.3M
7 recorded transactions
Zoning & alternative use
C1AA · Palm Springs, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$21.3M
+305.3%
Neighborhood: shopping center
$17.9M
+240.8%
Restaurant
$12.9M
+145.8%
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
$18,340,000
ML approach
$18,340,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$21,250,000
Change: +305% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$17,865,000
Change: +241% · Conversion: Difficult
RESTAURANT
$12,885,000
Change: +146% · Conversion: Moderate
Blend value · Realmo final
$18.34M
Range $16.51M – $20.17M · ±10% · vs last sale $18.34M (May 10 2024)
Last sale anchor
$18.34M
May 10 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
$884 / 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
$42,292
Tax year 2024
Assessed value
$3,470,923
Assessed 2024
Previous assessed
$3,470,923
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$694,180
Assessed improvement
$2,776,743
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Total area
20,755 SF
Lot
0.75 ac (32,670 SF)
Zoning code
C1AA
APN
508-570-001
UPID
US09-3025957
Jurisdiction
RIVERSIDE
Zoning & alternative use
C1AA · Palm Springs, CA
Zoning C1AA · permitted uses
C1AA · 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
COMMERCIAL (GENERAL)
Est. value
$21.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$17.9M
RESTAURANT
Est. value
$12.9M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1988
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Lot
0.75 ac
Current owner
From public records · entity-resolved
Festival Plaza LLC
Entity
Mailing address
35 N ARROYO PKWY STE #240, PASADENA, CA 91103-3902
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2024
$18,341,500
Festival Plaza LLC
Tahquitz Canyon Investors LLC
Grant Deed
—
Jun 1, 2016
—
Tahquitz Canyon Investors LLC
—
Deed
related
$900,000 · Bank Of Sthrn Ca
Nov 30, 2012
—
Reager Lauren L Trust
Reager,lauren L
Quit Claim Deed
related
—
Nov 30, 2012
$600,000
Wstrn Bk Pacific
Reager Lauren L Trust
Grant Deed
related
—
Nov 30, 2012
$1,200,000
Wstrn Bk Pacific
Reager Lauren L Trust
Grant Deed
related
—
Sep 23, 2005
—
Reager Lauren L Trust
Reager,lauren L
Quit Claim Deed
related
—
Feb 18, 2004
—
Tahquitz Canyon Investors LLC
South Park Development Ltd
Grant Deed
related
—
Feb 3, 2004
—
Tahquitz Canyon Investors LLC
South Park Development Ltd
Grant Deed
related
—
Aug 15, 2003
—
South Park Development Ltd
Banter INC
Grant Deed
related
—
Oct 30, 1998
$1,980,909
Banter INC
Tpm Courtyard INC
Grant Deed
$4,500,000 · Seller
Oct 2, 1995
—
Tpm Holdings INC
—
Deed Of Trust
related
$1,500,000 · Source Capital Corp
May 12, 1993
$4,600,000
Tpm Holdings INC
American Diversi
Grant Deed
related
—
—
—
Banter INC
—
Deed Of Trust
related
$1,500,000 · Source Capital Corp
—
—
Lauren L Reager
—
Deed Of Trust
related
$2,575,000 · First Professional Bank
—
—
Lauren L Reager
—
Deed Of Trust
related
$1,500,000 · Western Bank
—
—
Lauren Reager
—
Deed Of Trust
related
$2,300,000 · Santa Monica Bank
—
—
Tahquitz Canyon Investors LLC
—
Deed Of Trust
related
$900,000 · Bank Of Sthrn Ca
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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