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.
2026 P&L ›