Listed by CBRE - Atlanta, CBRE Atlanta
$4,000,000
Sherwin-Williams: Palm Springs, CA
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 4,012
Units 14
Cap Rate 5.25%
NOI $210,000
Occupancy 100%
Tenancy Single
Brand/Tenant Sherwin-Williams
Lease Type NN
Lease Term 10
Lease Expiration 08/01/2036
Remaining Term 10
Rent Bumps Yes
Lease Options Five, 5-year renewal options with 10% rent increases in each option
Year Built 2026
Acreage 0.380
Parking Spaces 14 spaces
Parking per 1,000 SqFt 3.49
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 08/31/2026
Ground Lease No
Mid-Century Modern Design in Palm Springs, CA
Marketing description
CBRE is pleased to exclusively offer for sale the 4,012-square-foot Sherwin-Williams situated on 0.38 acres in Palm Springs, CA - a component of the Riverside-San Bernardino-Ontario, CA Metropolitan Statistical Area (MSA Population: 4.72M+). Commencing in August 2026, Sherwin-William's net lease will feature 10 years of primary term with a 10% rent increase in 2031 and in each of the five, 5-year renewal options.
Investment highlights
- The asset features a high-quality, city-mandated Mid-Century Modern design tailored to complement Palm Springs' architectural heritage. The building boasts premium glass storefront components and an investment of over $100,000 in custom architectural awnings, enhancing curb appeal and securing long-term residual value.
- Situated along North Palm Canyon Drive (23,464 VPD), the property commands excellent visibility along the primary commercial artery connecting downtown Palm Springs to uptown Palm Springs and Interstate 10.
- Directly across the street, the newly completed Aloe Palm Canyon—a premium 71-unit, 55+ residential community—absorbs the area's remaining vacant land, further solidifying the local density and boosting immediate neighborhood retail demand.
- Immediately south of Aloe Palm Canyon, The Twelve at Old Las Palmas—a boutique 12-unit luxury residential development currently under construction—will introduce high-end housing with asking prices starting around $2.0 million. This project further elevates the affluence profile of the immediate trade area and contributes to increased localized spending power and consistent demand for nearby retail and service-oriented uses.
- The immediate neighborhood is anchored by top-tier, consistently high-performing culinary and hospitality destinations, including the upscale Arrive Palm Springs boutique hotel, the critically acclaimed Sandfish Sushi & Whiskey, and 1501 Uptown Gastropub. These concepts generate daily traffic around the site.
- The property stands in the path of progress, positioned less than a mile from a major upscale hospitality transformation. The Palm Springs Planning Commission unanimously approved the redevelopment of the vacant former Days Inn at 1973 North Palm Canyon Drive into The Verb in Palm Springs. This extensive project will expand the boutique resort from 107 to 179 keys, adding a new two-story hotel building, courtyard gardens, and a modernized visual identity designed by O2 Architecture.
- Strict local architectural guidelines, strict zoning laws, and a scarcity of vacant, developable parcels along the main Downtown Palm Springs strip severely limit competing future developments, protecting the long-term intrinsic value of the real estate.
- Sherwin-Williams explicitly bypassed the traditional big-box clusters near the airport to execute a predatory retail strategy. By positioning themselves just doors down from their primary West Coast competitor, Dunn-Edwards Paints, Sherwin-Williams secures immediate market visibility and expects to capture dominant market share from an established customer base.
- This location embeds Sherwin-Williams directly between the affluent, high-barrier-to-entry residential communities climbing the West Mountains and the established neighborhoods to the East.
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$210,000.00
$17,500.00/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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