500 S Indian Canyon Dr - Bank FOR SALE


Palm Springs, CA 92264- Warm Sands
$3,963,000 USD
714-504-0262
500 S Indian Canyon Dr, Palm Springs, CA for Sale
$3,963,000 USD
Bank - FOR SALE
1/7
null | 5.75% Cap Rate

500 S Indian Canyon Dr
Palm Springs, CA 92264
Warm Sands


HIGHLIGHTS

  • Zero Landlord Responsibilities - NNN lease with tenant maintaining all aspects of the property including roof, structure, parking lot and maintenance
  • Future Development Parcels - one large commercial parcel occupied by US Bank and two (2) residential parcels (6,098 SF) zoned R2
  • Strong Branch Deposits - per FDIC website, this US Bank has over $76 Million in deposits at this location
  • Walkable distance to downtown Palm Springs; retail, boutique resorts, trendy restaurants, and elite neighborhoods, including notable retail tenants

OVERVIEW

Trophy Single-Tenant NNN Lease with US Bank (formerly Union Bank). US Bank has occupied this site for over 20 years and has Two (2) - Five (5) year options to renew. The property consists of one (1) large commercial parcel occupied by US Bank, and two (2) additional residential parcels (6,098 SF each) that are zoned R2. Per the FDIC’s website, this location has over $76 Million in deposits. This highly visible location at the signalized corner of E. Ramon Rd., and S. Indian Canyon Drive is one of the most highly-traveled commercial intersections in the trade area. There are zero Landlord responsibilities, due to the NNN lease, and the tenant maintains all aspects of the property including the roof, structure, parking lot and maintenance.

FOR SALE DETAILS

PRICE

$3,963,000 USD

PRICE/SF

$482 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

US Bank plus Two Infill Residential Parcels

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

C1, Palm Springs

APN/PARCEL ID

508-121-001

ASK ABOUT THIS PROPERTY

Arthur FloresCBRE, Inc.More Info
714-504-0262

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Arthur FloresCBRE, Inc.More Info
714-504-0262

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.