707-745 N Palm Canyon Dr - Restaurant FOR SALE


Palm Springs, CA 92262- Old Las Palmas
$4,600,000 USD
760-808-3756
707-745 N Palm Canyon Dr, Palm Springs, CA for Sale
$4,600,000 USD
Restaurant - FOR SALE
1/35
null | 5.91% Cap Rate

707-745 N Palm Canyon Dr
Palm Springs, CA 92262
Old Las Palmas


HIGHLIGHTS

  • Iconic Mid-Century Trophy Building
  • Long Term Leases with High Profile Tenants
  • Rarely Available Legacy Asset

OVERVIEW

Step into a rare opportunity to own a truly iconic piece of Palm Springs' architectural and cultural history. Located in the bustling Uptown Design District, this ±8,830SF retail/restaurant building with large private parking lot (Lot size: 0.72AC) is a masterwork of Mid-Century Modern architecture. Originally designed in 1962 by the legendary John Porter Clark and Albert Frey. Known locally as the iconic Turonnet Building, this architecturally significant property features original travertine walls and preserved interior elements that pay homage to its origins as a bank and art gallery. Anchored by two of Palm Springs' most celebrated tenants—the nationally acclaimed TRIO Restaurant and the popular The SHAG store art gallery—this asset offers not only irreplaceable architectural value but also rock-solid investment fundamentals. TRIO, occupying three suites (707, 715 & 725 subleased to Time+Space Limited), has been a staple in the community for years and continues to thrive in one of the city's most trafficked corridors. Their tenancy offers a combination of stability and upside.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$547 USD /SF

CAP RATE

5.91%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turonnet Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

38

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

C1AA

APN/PARCEL ID

505-283-007

ASK ABOUT THIS PROPERTY

Luca VolpeRealty TrustMore Info
760-808-3756

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

Luca VolpeRealty TrustMore Info
760-808-3756

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