US Bank | Palm Springs

This single-tenant retail property, occupied by US Bank, offers a stable investment opportunity with a 5.75% cap rate and in-place NOI of $227,885. Located at 500 South Indian Canyon Drive in Palm Springs, CA, the asset benefits from a strategic position in a high-traffic corridor with 27,444 daily vehicles and 242 feet of frontage.

Built in 1959, the property spans 8,214 square feet on a 1.40-acre parcel and is fully occupied with 100% tenancy. The lease structure provides immediate cash flow, and current rents are 15.4% below market rates, presenting upside potential upon rollover or lease restructuring. Palm Springs is a sought-after retail market with strong economic fundamentals, and the property’s central location ensures consistent consumer activity.

The asset’s vintage and condition align well with institutional-grade standards, and its signage rights enhance visibility for the tenant. This offering is priced at $3,963,000 ($482 PSF), delivering stabilized returns with market rent growth potential. Investors will appreciate the predictability of income alongside the opportunity to capitalize on the disparity between in-place and market rents.