600 750 Tahquitz Canyon WAY, Palm Springs, CA 92262
600 750 Tahquitz Canyon WAY, Palm Springs, CA 92262
600 750 Tahquitz Canyon WAY, Palm Springs, CA 92262
600 750 Tahquitz Canyon WAY, Palm Springs, CA 92262
600 750 Tahquitz Canyon WAY, Palm Springs, CA 92262
600 750 Tahquitz Canyon WAY, Palm Springs, CA 92262
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Daniel Meza

Daniel Meza

House & Commerce Real Estate

+1(760) 604-6763
$ 8,950,000
Est. payment | /mo

3.35 Acres Lot

Save
$ 8,950,000
Est. payment | /mo
Save

3.35 Acres Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 219155382PS

HOA Y/N No

Year Built 1973

Lot Size 3.350 Acres

Property Description

An exceptional opportunity to acquire Kaptur Plaza, an iconic architectural landmark prominently situated in the heart of downtown Palm Springs. Designed by renowned Mid-Century Modern architect Hugh Kaptur, this historically significant property underwent a comprehensive restoration in 2018, including upgrades to its mechanical, electrical and plumbing systems, along with new roofs, preserving its architectural character while modernizing its infrastructure.Recognized for its architectural significance and award-winning design, Kaptur Plaza benefits from an existing Mills Act agreement providing substantial annual property tax savings.The offering encompasses two parcels totaling approximately 145,926 square feet (3.35 acres) of fee simple land, with approximately 32,000 square feet of interior space. Strategically positioned along the prominent Tahquitz Canyon corridor within the Section 14 Specific Plan area, this substantial landholding represents a rare investment opportunity in one of Palm Springs' most desirable commercial locations. Zoning accommodates a variety of uses, including professional offices, retail and medical services.Kaptur Plaza features a diversified tenant mix, including Koffi, reportedly its highest-performing Coachella Valley location, Revive Wellness and V Wine Lounge. The property also offers executive office suites with receptionist services and shared amenities, accommodating a broad range of professional tenants. Historically strong occupancy, diversified income sources and professional on-site management by Realty Trust Asset Management further enhance its investment appeal.Adding to its long-term potential is the proposed Nexus Development project on adjacent land behind Kaptur Plaza, with construction anticipated to begin in 2027. Plans contemplate a significant development featuring luxury hotel accommodations and high-rise residential condominiums. Subject to applicable approvals and development timelines, this project could further elevate the surrounding corridor, increase pedestrian activity and strengthen the property's strategic downtown position.Combining architectural distinction, substantial fee simple land ownership, diversified tenancy and long-term appreciation potential, Kaptur Plaza represents a compelling investment opportunity.Please do not disturb tenants. Financial information available to prequalified buyers.

Location

State CA

County Riverside

Area 332 - Central Palm Springs

Interior

Heating Central, Forced Air

Inclusions Existing leases.

Fireplace No

Laundry None

Exterior

Utilities Available Electricity Connected, Phone Connected, Underground Utilities

Roof Type Composition,Foam,Tile

Building

Lot Description Corner Lot, Desert Front, Front Yard, Sprinklers In Rear, Sprinklers In Front, Lawn, Landscaped, Near Public Transit, Sprinklers Timer, Sprinklers On Side, Sprinkler System

Story 1

Water Public

Others

Tax ID 508055003

Security Features Prewired,Fire Detection System,Firewall(s),Fire Sprinkler System,Smoke Detector(s),Security Lights

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Luca Volpe Realty Trust #02037333

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Daniel Meza
Daniel Meza

Agent License ID: 02056244

+1(760) 604-6763

1699 W Main St Suite I, El Centro, CA 92243

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