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707-745 N Palm Canyon Drive, Palm Springs, CA 92262

$4,400,000
Property Type: Commercial Sale Square Footage: 8,830 Status: Active
Current Price: $4,400,000 List Date: 1/14/2026 Last Modified: 5/12/2026

Description

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.

More Information MLS# 219141389

Listing, Location and Property Info

Entry Date: 2026-01-14

Listing Info

Accounting Type: Actual Ownership Type: Partnership Exclusions of Sale: Any and all tenant personal property.

Property Info

Entry Floor Number: 1 Building # of Stories: 1 # Buildings: 1 Building Status: Existing Anchor Co Tenants: TRIO, Shag Store

Owner Pays

Insurance: 1 Taxes: 1

Business Type

Hospitality: 1

Tenant Pays

A/C: 1 Electric: 1 Gas/Heat: 1 Janitor: 1 Water: 1

Utilities

220V in Kitchen: 1 Electricity Connected: 1 Natural Gas Available: 1 Underground Utilities: 1

Sale Type

Standard: 1

Business Info

Cooling: Yes Heating: Yes Current Use: Restaurant and Retail Financing Available: No Investment Property: Yes Lease Type: NNN Sale or Lease: Sale Total Tenants: 3 Cap Rate: 6.2

Road Surface Type

Paved: 1

Listing Terms

Cash: 1 Conventional: 1 Standard Sale: 1

Financing

Cash: 1 Conventional: 1

Showing Access

Do Not Contact Occupant: 1 List Agent Accompanies: 1

Lot Features

Corner Lot: 1 Lot 20000-39999 SqFt: 1 Lot Level/Flat: 1 Walk Street: 1

Asset Class

Retail: 1

Disclosures

None: 1

Land Use

Office: 1 Retail: 1 Other: 1

Survey

Buyer Pays: 1

Exterior Construction

Stucco: 1

Heating

Central: 1 Forced Air: 1

Search Tags

Multi-Tenant: 1 Office/Retail: 1 Parking Lot: 1 Restaurant: 1 Retail/Office: 1 Standalone: 1 Street Retail: 1

Security Safety

Carbon Monoxide Detector(s): 1 Smoke Detector: 1

Roofing

Flat: 1

Water

Water District Name: Desert Water Agency

Listing Location and Property Info

APN: 505283007 Status: Active Listing Date: 2026-01-14 Original List Price: 4400000 List Price: $4,400,000 Current Price: $4,400,000 Property Sub-Type: Business Street #: 707-745 Street Direction: N Street Name: Palm Canyon Street Suffix: Drive County: Riverside State: CA Zip Code: 92262 Area: 332 - Palm Springs Central Country: US

General Property Information

Approx SqFt: 8830 SqFt Source: Other Lot Size: 31363 Year Built: 1962 Cross Streets: W Merito Place

Status Change Info

Status Change Date: 2026-01-14

Parking SpacesInformation

Total Uncovered/Assigned Spaces: 38 Total Parking Spaces: 38

Property Features

Business Type: Hospitality Sale Type: Standard Financing: Cash; Conventional Listing Terms: Cash; Conventional; Standard Sale Showing Access: Do Not Contact Occupant; List Agent Accompanies Owner Pays: Insurance; Taxes Tenant Pays: A/C; Electric; Gas/Heat; Janitor; Water Lot Features: Corner Lot; Lot 20000-39999 SqFt; Lot Level/Flat; Walk Street Asset Class: Retail Road Surface Type: Paved Land Use: Office; Retail; Other Survey: Buyer Pays Exterior Construction: Stucco Heating: Central; Forced Air Search Tags: Multi-Tenant; Office/Retail; Parking Lot; Restaurant; Retail/Office; Standalone; Street Retail Security Safety: Carbon Monoxide Detector(s); Smoke Detector Roofing: Flat Utilities: 220V in Kitchen; Electricity Connected; Natural Gas Available; Underground Utilities Disclosures: None

Documents

Listing Office: Realty Trust
Listing Agent: Luca Volpe
Last Updated: May - 12 - 2026
Information deemed reliable but not guaranteed.

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Hi, I'm Darlene Harwick and I provide real estate service to buyers and sellers in the Palm Springs area.

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