Unique property in a hot neighborhood. Actual square footage is approximately 4,360 SF (two buildings). Broker coop TBD. Hard corner, two gates, several units either divisible or used by a single tenant. Using or developing this property, zoned “CM”, offers strong potential due to the zone's flexibility (incorporating all C-1 and C-2 permitted uses like retail stores, restaurants, offices, personal services, and general commercial activities, plus additional options like cannabis dispensaries, auto sales/repair, warehousing, and light manufacturing). • The corner location in a desirable business neighborhood enhances visibility and foot traffic, especially in a tourism-driven market. • The structure is highly adaptable to reconfiguring. • Retail and service-oriented uses align best here for profitability. With a 4,360 SF in two structures, a buyer’s strategy might focus on high-demand, high-margin uses that leverage Palm Springs' economy—centered on tourism, retail, hospitality-adjacent services, and wellness—while complying with development standards (e.g., max 30 ft height, min 20,000 SF lot area if expanding, required landscaping, and off-street parking/loading per city code). Key local economic drivers include tourism (boosted by events like Coachella and Modernism Week), health/wellness trends, and cannabis growth, with the industry generating significant tax revenue (over $4M annually citywide in recent years). Below are profitable potential strategies (the high tourist traffic of the site yields premium rents and sales). 1. Lease or Develop as a Cannabis Dispensary or Lounge Palm Springs has seen a cannabis boom, with dispensaries like PSA Organica and The Leaf thriving due to tourism and local demand. The industry contributes heavily to city revenue (top tax generator, exceeding real estate in some years), and corner locations command high visibility for walk-in and drive-by customers. Average dispensary revenues can exceed $1-2M annually for established spots, with profit margins of 20-40% after costs. In 2026, despite some market saturation, premium tourist-oriented lounges (combining retail with on-site consumption) are in demand, fetching rents up to $30-40/SF/year. 2. Convert to Tourist-Oriented Retail Boutique or Multi-Tenant Shops Retail thrives in Palm Springs' $9B tourism economy, with high foot traffic from visitors seeking art, fashion, souvenirs, or local goods. Boutiques in desirable neighborhoods yield strong sales (e.g., $500-800/SF in revenue for prime spots), and corner properties benefit from dual-street exposure. Trends show steady retail demand, with average leases at $25-35/SF/year. Multi-tenant setups (e.g., dividing into 1,000-2,000 SF units) maximize occupancy and diversify income. Target tenants like wellness brands or Coachella-themed pop-ups. 3. Develop as a Restaurant, Cafe, or Food Service with Lounge/Drive-Through Hospitality-adjacent uses like restaurants are top performers, with Mexican eateries or upscale cafes fetching $550K-$7.5M in sales. Tourism drives year-round demand, especially for outdoor seating or cocktail lounges. Corner sites are ideal for drive-throughs (conditional permit required), boosting throughput. Permitted via C-1/C-2 (restaurants, bakeries) or conditional for lounges/nightclubs. 4. Lease for Health/Wellness Services or Professional Offices Palm Springs' wellness sector (spas, medical labs, animal day care) is booming, tied to tourism and retiree demographics. Services like veterinary clinics or dental labs (permitted in CM) offer stable, recession-resistant income. Office demand is rebounding in 2026 (per J.P. Morgan outlook), with rents at $15-25/SF/year. Corner visibility attracts walk-ins, and low turnover tenants provide consistent cash flow. 5. Light Redevelopment for Auto Sales/Service or Mixed Commercial Auto-related uses (e.g., sales, repair garages—permitted in CM) can be lucrative in a car-dependent area, with high margins on parts/installation.