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360-368 N Palm Canyon Dr 14,000 SF 100% Leased Retail Building Palm Springs, CA 92262 $5,429,205 CAD ($387.80 CAD/SF) 6.81% Cap Rate

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Investment Highlights

6.81% Proforma Cap Rate Possible within 12 months (call broker for details)
Versatile Income Mix – 9 apartment units and 2 ground-floor retail tenants (including Las Casuelas Mexican Food and Inca Peruvian).
Growing Year-Round Economy – Palm Springs has evolved beyond a seasonal destination, supported by hospitality & entertainment

Tourism-Driven Market – Coachella Valley region generates an estimated $9 billion in annual tourism revenue
Prime Downtown Location – Limited availability of assets along Palm Canyon Drive with strong investor demand
PALM SPRINGS INTERNATIONAL AIRPORT - Minutes from Palm Springs International Airport (PSP), serving over 3 million annual passengers

Executive Summary

Prime Net Lease is pleased to present a rare mixed-use investment opportunity in the heart of Downtown Palm Springs, California. This ±14,078 SF property offers a dynamic blend of retail and residential uses, featuring 9 apartment units and 2 ground-floor retail suites. With its prime location, strong tenant base, and significant value-add potential, the asset represents a premier acquisition in one of Southern California’s most desirable resort markets.
Located along Palm Canyon Drive, Palm Springs’ premier pedestrian corridor, the property benefits from exceptional visibility and heavy year-round foot traffic driven by surrounding restaurants, boutiques, luxury hotels, and entertainment venues. The site is positioned adjacent to the newly developed 168-room Thompson Hotel and within walking distance to major attractions including the Palm Springs Art Museum, Agua Caliente Cultural Plaza, and the Palm Springs Convention Center.
The property is further supported by robust demographics and strong tourism demand. Within three miles, the average household income exceeds $99,000, and the area draws from both affluent local residents and more than 14 million annual visitors to the Coachella Valley. Palm Springs International Airport, less than 10 minutes away, serves over 3 million passengers annually, connecting the city to major domestic and international markets.
6.81% Proforma Cap Rate Possible within 12 months (call broker for details)
Please see the attached marketing brochure for full details.

OM - 360 N Palm Canyon - Palm Springs_ CA (2-9-2026) compressed

Financial Summary (Pro Forma - 2027)	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	$435,036	$31.07
Other Income	$49,126	$3.51
Vacancy Loss	-	-
Effective Gross Income	$484,163	$34.58
Taxes	$62,990	$4.50
Operating Expenses	$51,612	$3.69
Total Expenses	$114,602	$8.19
Net Operating Income	$369,561	$26.40

Financial Summary (Pro Forma - 2027)

Gross Rental Income (CAD)
Annual	$435,036
Annual Per SF	$31.07

Other Income (CAD)
Annual	$49,126
Annual Per SF	$3.51

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	$484,163
Annual Per SF	$34.58

Taxes (CAD)
Annual	$62,990
Annual Per SF	$4.50

Operating Expenses (CAD)
Annual	$51,612
Annual Per SF	$3.69

Total Expenses (CAD)
Annual	$114,602
Annual Per SF	$8.19

Net Operating Income (CAD)
Annual	$369,561
Annual Per SF	$26.40

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Restaurant

Building Size

14,000 SF

Building Class

Year Built

1955

Price

$5,429,205 CAD

Price Per SF

$387.80 CAD

Cap Rate

6.81%

NOI

$369,561 CAD

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Building FAR

0.63

Lot Size

0.51 AC

Zoning

C1AA

Parking

25 Spaces (2.14 Spaces per 1,000 SF Leased)

Frontage

85’ on N Palm Canyon Dr

Restaurant

Major Tenants

Group 360 Inc
Public Administration
-
-
-

Re Fresh Gallery
-
-
-
-

Three Sixty North, Lounge + Restaurant
Accommodation and Food Services
-
-
-

Tony's Pasta Mia
Retailer
-
-
-

Tenant	Industry	SF Occupied	Rent/SF	Lease End
Group 360 Inc	Public Administration	-	-	-
Re Fresh Gallery	-	-	-	-
Three Sixty North, Lounge + Restaurant	Accommodation and Food Services	-	-	-
Tony's Pasta Mia	Retailer	-	-	-

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Walk Score®

Very Walkable (77)

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Property Taxes

Parcel Number	513-081-009	Total Assessment	$2,687,266 CAD (2025)
Land Assessment	$824,677 CAD (2025)	Annual Taxes	$62,990 CAD ($4.50 CAD/SF)
Improvements Assessment	$1,862,589 CAD (2025)	Tax Year	2027