67495 E Palm Canyon Dr - Hospitality FOR SALE


Palm Springs, CA 92264
$4,500,000 USD
909-456-3481
67495 E Palm Canyon Dr, Palm Springs, CA for Sale
$4,500,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

67495 E Palm Canyon Dr
Palm Springs, CA 92264


HIGHLIGHTS

  • Interior Corridor | Priced to Sell at $104,651 Per Key | Unencumbered by Brand or Management
  • Redevelopment Potential Given the Site’s Size, Frontage, and Market Trajectory for Higher-Density Hospitality or Multifamily Projects
  • High-Traffic Location off Highway 111 – 43,250 Vehicles Daily in Coachella Valley
  • Minutes to Downtown Palm Springs, Palm Springs International Airport (3.2M Passengers in 2024), Cathedral City Hall, and Palm Springs Convention Cente
  • Positioned to Capture Growth from Continued Airport and Convention Traffic, Festival Events, and Regional Migration to Coachella Valley Markets
  • Nearby Attractions Include Agua Caliente Casino, Palm Springs Art Museum, Palm Springs Aerial Tramway, Joshua Tree National Park, and More

OVERVIEW

Property Tours Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers. Marcus & Millichap has been chosen to exclusively market for sale the Sol Springs Inn, a 2-story boutique hotel located in Cathedral City, California. The property includes 43 interior-corridor guest rooms, each equipped with a flat-screen television, refrigerator, and microwave, with select rooms featuring private patios. Common areas feature a heated outdoor pool and jacuzzi, guest laundry facilities, and vending machines. The site also presents strong redevelopment potential given its size, frontage, and the market’s ongoing trajectory toward higher-density hospitality or multifamily projects. Sol Springs Inn is located off of Highway 111 and centrally positioned between Palm Springs and Rancho Mirage in the heart of the Coachella Valley. Highway 111 serves as the region’s main commercial and hospitality corridor, offering strong traffic counts and excellent visibility. Cathedral City has seen steady revitalization and investment in recent years, supported by new mixed-use developments, a growing dining and entertainment scene, and proximity to Palm Springs International Airport. The location provides convenient access to major valley destinations while benefiting from Cathedral City’s expanding tourism and business activity. Coachella Valley is host to annual events such as the BNP Paribas Open Tennis Tournament with over 500,000 attendees, the Coachella Music Festival, and Stagecoach Music Festival, with a combined attendance of 250,000 in 2024. The property is also a short drive to the McCallum Theatre, Living Desert Zoo, La Quinta Village, local casinos, Indio Fairgrounds, Empire Polo Club, Palm Springs Convention Center, Palm Springs Aerial Tramway, Joshua Tree National Park, and several hiking trails. The Sol Springs Inn represents the opportunity to acquire an independent hotel in a stable market with no brand or management encumbrances. Our Pro Forma analysis assumes continued modest growth supported by increasing tourism, airport passenger counts, population, and demand growth in the Coachella Valley.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$269 USD /SF

# OF ROOMS

43

PRICE/ROOM

$104,651 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sol Springs Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1972

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

CPS

APN/PARCEL ID

681-300-029

ASK ABOUT THIS PROPERTY

Gordon AllredMarcus & MillichapMore Info
909-456-3481

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

Gordon AllredMarcus & MillichapMore Info
909-456-3481

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