238 PALM CANYON Drive, Palm Springs, CA 92262 (MLS# 17275694)

238 PALM CANYON Drive, Palm Springs, CA 92262

$2,500,000
Property Type: Commercial Sale Status: Closed
Current Price: $2,500,000 List Date: 9/29/2017 Last Modified: 11/08/2024

Overview

Description

A part of Palm Springs History, this was theoriginal location of Ruby Dunes during the 50'sand 60's, a favorite Frank Sinatra hangout. It is amulti-tenant building with two businesses on PalmCanyon Dr. and a newer addition extending eastbuilt in the mid 70's. Currently it is fully leased withfour tenants. The Hair of the Dog Saloon,Mariannes of Palm Springs, The Sandwich Shopand Canyon Copy & Print. It is directly across thestreet from the new downtown redevelopment byGrit Development including the new RowanKimpton Hotel, West Elm and Blaze Pizza. Thesecond buildings, which just opened last fall,features Tommy Bahama, Free People, H&M,MAC Cosmetics, Kiehls, II Corso, and StarbucksReserve. The Hyatt Hotel is also directly acrossthe street.

Listing Details MLS# 17275694

General Property Information

SqFt Source
Other
Year Built
1950
Cross Streets
E. Amado Rd

Property Features

Business Type: Retail Sale Type: Standard

Listing Location and Property Info

APN
513091011
Original List Price
3000000
Street #
238
Street Name
PALM CANYON
Street Suffix
Drive
County
Riverside
State
CA
Zip Code
92262
Area
332 - Palm Springs Central

Property Info

Building # of Stories
Yes
Building Status
Existing

Status Change Info

Status Change Date
2018-06-29
Pending Date
2018-03-26
Closed Date
2018-06-29
Closed Price
2500000

Income

Gross Operating
232000
Gross Schedule Rents
16000

More Information

Business Info

Cap Rate
6.34
Laundry Equipment
No
Sale or Lease
Sale
Total Tenants
4
Year Established
1950

Listing, Location and Property Info

Entry Date
2017-09-28

Business Type

Retail
Yes

Sale Type

Standard
Yes
Listing Office: Baddour & Associates
Listing Agent: Ingrid Baddour
Last Updated: November - 08 - 2024
Information deemed reliable but not guaranteed.

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