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 privateparking 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, thisarchitecturally 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 mosttrafficked corridors. Their tenancy offers a combination of stability and upside.
Business Type:
Hospitality
Lot Area:
31,363 sq. ft.2,914 m2
Bathrooms:
0.0
(Full:-, Half:-)
Year built:
1962
(Age: 63)
General Listing Location:
Palm Springs, 332 - Central Palm Springs
County Or Parish:
Riverside
Anchors Co-Tenants:
TRIO, Shag Store
Cap Rate %:
5.9
Association Fee:
$0
In the heart of Uptown Palm Springs. Property located on the west side of Palm Canyon Dr at the corner of W Merito Place, just south of Tamarisk Road.
Features Excluded:
Any and all tenant personal property.
Lot Features:
Corner Lot
Security Features:
Carbon Monoxide Detector(s), Smoke Detector(s)
Roof:
Flat
Heating:
Central, Forced Air
Utilities:
Electricity Connected, Natural Gas Available, Underground Utilities