Description
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...
Documents
Offering Summary
- Asking Price$3,963,000
- Price PSF$482
- Property TypeRetail
- Size16,428 SF
- Occupancy100%
- Built1959
- Total Acres~1.40 ac
Sale Details
- Walt5 Years
- Cap Rate5.75%
- NOI$227,885
- In-Place Cap Rate5.75%
- In-Place NOI$227,885
- In-Place Rents3
- Market Rents3
- Rents Below Market15.40%
Documents
Property Address
Property Details
- Property TypeRetail
- Square Feet8,214 SF
- Occupancy100%
- Year Built1959
- TenancySingle
- AmenitiesParking & Access, Visibility & Signage Parking & Access: Surface Parking Visibility & Signage: Monument Signage
- Operating Expenses ($/SF/yr)28,000 $/SF/yr
- Lease TypeNNN
- ZoningC1 & R2
- APN508-121-001, 508-121-013, 508-121-012
- Ownership InterestFee Simple
- Gross Leasable Area8,214 SF
- Frontage (ft)242 ft
- Traffic Count27,444 AADT
- Signage RightsMonument... Monument, Building-Mounted
- Acres1.40
Property Details
Deal Team
Description
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...
Documents
Offering Summary
- Asking Price$3,963,000
- Price PSF$482
- Property TypeRetail
- Size16,428 SF
- Occupancy100%
- Built1959
- Total Acres~1.40 ac
Sale Details
- Walt5 Years
- Cap Rate5.75%
- NOI$227,885
- In-Place Cap Rate5.75%
- In-Place NOI$227,885
- In-Place Rents3
- Market Rents3
- Rents Below Market15.40%
Documents
Property Address
Property Details
- Property TypeRetail
- Square Feet8,214 SF
- Occupancy100%
- Year Built1959
- TenancySingle
- AmenitiesParking & Access, Visibility & Signage Parking & Access: Surface Parking Visibility & Signage: Monument Signage
- Operating Expenses ($/SF/yr)28,000 $/SF/yr
- Lease TypeNNN
- ZoningC1 & R2
- APN508-121-001, 508-121-013, 508-121-012
- Ownership InterestFee Simple
- Gross Leasable Area8,214 SF
- Frontage (ft)242 ft
- Traffic Count27,444 AADT
- Signage RightsMonument... Monument, Building-Mounted
- Acres1.40
Property Details
Deal Team
