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February 25, 2024
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Mixed-Use Property in Palm Springs Goes for $349/sf


New Dawn Enterprises LLC paid $7.3 mil for a 20.9k sf ($349/sf) mixed-use property in Palm Springs. The seller was 803 N Palm Canyon Holdings.

The mixed-use property is located at 803 North Palm Canyon Dr, at the intersection of North Palm Canyon Dr and Tamarisk Rd, within the North Palm Canyon Uptown District. Itís surrounded by shopping venues and restaurants.

Centrally located within Coachella Valley, the property consists of 12 two-bedroom townhouse-style units, which average 1.5k sf. All but one unit offers a loft. Each unit features sub-zero refrigerators, stainless steel appliances, stone countertops, in-unit washers and dryers and a patio or balcony.

The community amenities include covered parking on the ground floor, including 12 individual garages and a pool deck on the second floor with shaded cabanas. The property also has 3.5k sf of ground-level occupied retail space.

Eric Chen, Blake Torgerson and Marco Rossetti of CBRE represented the seller in the transaction.

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