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

Approx SqFt: 8830
SqFt Source: Other
Year Built: 1962
Cross Streets: W Merito Place

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

Listing Location and Property Info

APN: 505283007
Original List Price: 4400000
Property Sub-Type: Retail
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

Listing Info

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

Property Info

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

Status Change Info

Status Change Date: 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

Total Uncovered/Assigned Spaces: 38
Total Parking Spaces: 38

Water

Water District Name: Desert Water Agency

Listing Office: Realty Trust

Listing Agent: Luca Volpe

Last Updated: October - 12 - 2026

Information deemed reliable but not guaranteed.