707-745 N Palm Canyon Drive, Palm Springs, CA 92262 (MLS# 219151511)

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: 8/17/2026 Last Modified: 10/12/2026

Overview

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 ... (Read more)

Listing Details MLS# 219151511

General Property Information

Living Area: 8830
BuildingAreaSource: Other
Lot Size Area: 31363
Year Built: 1962
CrossStreet: W Merito Place

Property Features

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

Listing Location and Property Info

Parcel Number: 505283007
Listing Contract Date: 2026-08-17
Original List Price: 4400000
Property Sub Type: Retail
Street #: 707-745
Street Direction Prefix: N
Street Name: Palm Canyon
Street Suffix: Drive
County: Riverside
State: CA
Postal Code: 92262
MLS Area: 332 - Palm Springs Central
Country: US

Listing Info

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

Property Info

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

Status Change Info

StatusChangeDate: 2026-08-17

More Information

Business Info

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

Parking SpacesInformation

OpenParkingSpaces: 38
Parking Total: 38

Water

Water District Name: Desert Water Agency

Tenant Pays

A/C: Yes
Electric: Yes
Gas/Heat: Yes

Utilities

Electricity Connected: Yes
Natural Gas Available: Yes

Road Surface Type

Paved: Yes

Lot Features

Corner Lot: Yes
Lot Level/Flat: Yes

Search Tags

Office/Retail: Yes
Retail/Office: Yes

Listing Office: Realty Trust

Listing Agent: Luca Volpe

Last Updated: October - 12 - 2026

Information deemed reliable but not guaranteed.