Commercial real estate listings are not just sales pitches. In a market like the Coachella Valley, they can reveal where capital is confident, where owners are seeking exits and where big pieces of the local economy may be shifting.
This edition of What’s For Sale includes six properties that cut across several key sectors: retail, office, industrial and redevelopment land. The list includes a nearly 127,000-square-foot Cathedral City retail center back on the market at a reduced price, a grocery-anchored Indio center, a restored Hugh Kaptur-designed office landmark in Palm Springs, a Rancho Mirage infill assemblage near The River, a freestanding Rancho Mirage industrial building and a fully leased Palm Desert office park.
Together, the listings show a market with two very different stories running at once. Stabilized assets with recognizable tenants and prime locations are still being marketed around income and durability. Larger vacancy and redevelopment plays are being priced around upside, flexibility and the buyer’s ability to execute.
That matters in Greater Palm Springs, where tourism, healthcare, hospitality, retail, events and second-home wealth all feed into commercial property values. Visit Greater Palm Springs has described tourism as the region’s largest industry, supporting one in four local jobs and drawing more than 14 million visitors annually. But local commercial real estate is also shaped by day-to-day fundamentals: traffic counts, tenant demand, lease-up costs, parking, zoning and the ability to adapt older properties to new uses.
Here are some listings to watch.
Cathedral City | Retail | Date Palm Drive Repositioning Play
Address: 31033 Date Palm Drive, Cathedral City, CA 92234
Offering: A 126,745-square-foot multi-tenant retail investment on 14.23 acres at Date Palm Drive and McCallum Way. The property includes 14 retail units, five exterior loading docks and approximately 888 parking spaces.
Asking Price: $9,500,000, or $74.95 per square foot
Cap Rate: 3.25 percent current. Broker materials also present pro forma underwriting tied to lease-up assumptions.
Listing Agent: Tony Azzi, The Azzi Group, Marcus & Millichap
This may be the most closely watched listing in the current group because of its scale, location and vacancy story.
The property sits at a signalized Cathedral City intersection with roughly 533 feet of frontage on Date Palm Drive and 425 feet on McCallum Way. Marketing materials say the intersection sees about 22,000 vehicles per day and emphasize the center’s monument signage, dual-street visibility and unusually large parking field.
The center is back on the market at a reduced price and is being pitched less as a stabilized retail investment than as a major repositioning opportunity. Current public materials show low occupancy, while the offering memorandum highlights potential tenant lease-up totaling approximately 65 percent of the center. Available space includes multiple large blocks, including one suite listed at 46,596 square feet and space that can be combined into more than 100,000 square feet.
The property’s physical layout is also part of the pitch. The single-story design, loading docks and large parking field could support traditional retail, but the same features also make the building plausible for warehouse, back-of-house, medical, institutional, entertainment or last-mile distribution uses.
Spirit Halloween, a recurring seasonal tenant, has committed to return for the 2026 season, according to the marketing package.
Market Intel: This listing is both a stress signal and an opportunity signal. The current income is modest relative to the size of the asset, but the asking price of under $75 per square foot provides a buyer with a lower basis than in many comparable retail trades. The big question is execution. A buyer would need to solve leasing, tenant improvements and use strategy. If the center lands a major tenant or is successfully converted to a hybrid retail-logistics or institutional use, it could reset expectations for underused big-box space in Cathedral City.
Indio | Retail | Grocery-Anchored Neighborhood Center
Address: Indio Plaza, 82120-82184 Highway 111, Indio, CA 92201
Offering: A six-property retail portfolio totaling 138,183 square feet on 31.88 acres at Highway 111 and Monroe Street.
Asking Price: $24,200,000, or $175.13 per square foot
Cap Rate: 6.50 percent
Listing Agents: Aaron Bettencourt and Ramez Barsoum, REZA Investment Group
Indio Plaza is a more conventional retail investment story, but it has a meaningful value-add component.
The center is anchored by Food 4 Less and dd’s Discounts, with other tenants identified in public materials, including Denny’s, Subway, Flame Broiler, Sally Beauty and Don Roberto Jewelers. The property is positioned at a major Highway 111 intersection, with marketing materials citing more than 46,900 vehicles per day along nearby thoroughfares.
The listing emphasizes the center’s national and regional tenant base, which accounts for approximately 81 percent of occupied square footage. It also points to the eastern valley’s population growth and the opportunity to lease roughly 26,033 square feet of vacant gross leasable area, or about 19 percent of the property.
Market Intel: Indio Plaza is a bet on grocery-anchored retail in one of the valley’s fastest-growing cities. Food 4 Less gives the center daily-needs traffic, while dd’s Discounts adds value-oriented retail pull. The upside is straightforward: fill the vacancy and improve income. The risk is equally clear: investors will want to know whether the remaining space can be leased at rents that justify the asking price and cap rate. In a market where Indio’s residential base continues to expand, this is a retail property that ties directly to household growth.
Palm Springs | Office, Retail, Landmark Asset | Kaptur Plaza
Address: 600-750 East Tahquitz Canyon Way, Palm Springs, CA 92262
Offering: Two office properties totaling 16,000 square feet on 1.43 acres in downtown Palm Springs.
Asking Price: $11,000,000, or $687.50 per square foot
Cap Rate: 5.71 percent
Listing Agent: Scott Timberlake, Realty Trust
Kaptur Plaza is not just an office listing. It is part of the city’s architectural and development story.
The property is marketed as a midcentury Hugh Kaptur-designed asset that was completely restored in 2018, including mechanical, plumbing, electrical and roofing systems. Public listing materials describe it as fully leased with multiple anchor tenants, including Koffi and V Wine Lounge.
The site sits in the Tahquitz corridor, near downtown hotels, the Palm Springs Convention Center, and Section 14, where a major Nexus Development hotel-and-residential project has been approved. The listing frames the future development as a potential demand driver, with new high-rise residential and hotel uses expected to add energy to the area.
The Palm Springs Preservation Foundation has long recognized Tahquitz Plaza, now known as Kaptur Plaza, as a significant modernist commercial complex associated with architect Hugh Kaptur. This history adds a layer of value to the property that goes beyond rent rolls and square footage.
Market Intel: Kaptur Plaza is a scarcity asset. The price per square foot is high compared with ordinary office products, but this is not an ordinary office product. It combines fee-simple land, a downtown Palm Springs location, historic architecture, restoration work and tenant demand in a corridor where surrounding development could further elevate the profile. The question for buyers is whether the income supports the price today, or whether the real thesis is long-term control of a landmark property in a tightening downtown district.
Rancho Mirage | Land, Office, Redevelopment | Rancho Mirage Lane Portfolio
Address: 42462-42414 Rancho Mirage Lane and five adjacent vacant lots, Rancho Mirage, CA 92270
Offering: A multi-property commercial portfolio totaling approximately 1.25 acres. The improved portion includes two freestanding buildings and one vacant development parcel. The adjacent land includes five contiguous commercial lots.
Asking Price: $2,235,000 combined. Broker materials also show the improved property offered at $1,437,000 and the adjacent development land at $798,000.
Cap Rate: Not applicable
Listing Agents: Michael Meade, Kate Rust and Danyell Meade, Meade Commercial
The Rancho Mirage Lane portfolio is small compared with the retail centers in this column, but its location makes it significant.
The offering sits steps from The River at Rancho Mirage and just south of Highway 111, in the Magnesia Falls area. The improved property includes one approximately 4,800-square-foot building built in 1950, a second approximately 1,200-square-foot building built in 1961 and an additional development parcel. The five adjacent vacant lots total about 0.83 acres.
The zoning is General Commercial, and Meade’s materials cite potential uses including retail, medical office, professional office, spa or wellness, art gallery and commercial development. Nearby demand drivers include The River, Eisenhower Health, Cotino, Sunnylands, Sensei Porcupine Creek, Mission Hills Country Club and the Indian Wells Tennis Garden.
The package is offered as-is, where-is.
Market Intel: This is an infill control play in one of the valley’s most affluent commercial corridors. The property is not being sold for current income. It is being sold for location, assemblage and optionality. A buyer could pursue a boutique medical or wellness campus, professional offices, a restaurant-adjacent concept, a gallery use or a longer-term redevelopment. The key diligence issues are zoning, parcel configuration, building condition, parking, access and whether the market supports the costs of new development at this scale.
Palm Desert | Industrial | Dinah Shore Freestanding Building
Address: 73605 Dinah Shore Drive, Suite 100A, Rancho Mirage, CA 92211
Offering: A 16,796-square-foot freestanding industrial building on approximately 0.93 acres, available for sale or lease.
Asking Price: $3,500,000, or $208.38 per square foot
Cap Rate: Not applicable
Listing Agents: Phillip DeRousse, Joel Hutak and Bart McNulty, Lee & Associates
Industrial space remains one of the most closely watched property types in the valley, particularly for owner-users that need visibility, office buildout and access to Interstate 10.
The Dinah Shore building is a single-tenant industrial asset with approximately 5,262 square feet of two-story office space, a 14-foot-by-10-foot ground-level loading door, 22-foot clear height, 20 parking stalls and a kitchenette. LoopNet materials identify the property as a warehouse built in 2007 with SI industrial zoning allowing uses such as manufacturing, distribution, research and related service uses.
Its location is a major selling point. The building sits on a prominent Dinah Shore Drive corner near Monterey Avenue and minutes from Interstate 10. Marketing materials describe it as suitable for an owner-user or tenant seeking a desert hub with showroom, corporate, sales or administrative functions.
Market Intel: This property is about function and visibility. It is not a passive-income deal because no cap rate is being marketed. It is an owner-user or lease-up opportunity for a company seeking to own its desert operations base. The office-to-warehouse ratio also makes it attractive to showroom, contractor, design, distribution or light industrial users who need a polished front end and a functional back end. In a valley where modern industrial inventory remains limited, a freestanding building near I-10 carries strategic value.
Palm Desert | Office | Parc Center Business Park
Address: 77564 Country Club Drive, Palm Desert, CA 92211
Offering: Two 30,000-square-foot office buildings totaling 60,000 square feet on 3.41 acres.
Asking Price: $8,000,000, or $133.33 per square foot
Cap Rate: Not published
Listing Agent: Dennis French, Equity Directions, Inc.
Parc Center Business Park is the most traditional office investment in this week’s group.
The property is a two-building office complex on Country Club Drive, with both buildings constructed in 1987. One building is identified as a general office and office-residential, while the other is identified as a medical office. Public listing materials describe the property as 100 percent leased and highlight its California Mission and Mediterranean-style architecture, landscaped setting and exposure to more than 23,000 vehicles per day along Country Club Drive.
The location is central to the pitch. Parc Center sits between Palm Desert and Bermuda Dunes, with quick access to Interstate 10 and nearby retail and residential neighborhoods. The listing also notes that the seller will consider owner financing with a 50 percent down payment.
Market Intel: Office remains the most scrutinized asset class in commercial real estate, but smaller suburban office assets with medical users, professional tenants and local service demand can trade differently than large downtown office towers. Parc Center’s 100 percent leased status and price of roughly $133 per square foot may attract private investors looking for yield and basis rather than institutional office exposure. The owner-financing possibility is also notable at a time when debt costs can shape buyer demand as much as property fundamentals.
What These Listings Say About the Market
This edition of What’s For Sale points to a Coachella Valley commercial market that is active, but selective.
The stabilized retail and office listings, including Indio Plaza, Kaptur Plaza and Parc Center Business Park, are being marketed on the basis of income, tenancy and location. Buyers will judge them by cap rates, rent durability and whether the price reflects today’s financing environment.
The more opportunistic assets, including 31033 Date Palm Drive and the Rancho Mirage Lane portfolio, depend on execution. They require leasing, redevelopment or repositioning. That means they may attract a different buyer pool, one with operating experience and tolerance for risk.
The Dinah Shore industrial building sits somewhere between those categories. It is not a passive investment pitch. It is a user-driven real estate opportunity in a property type with limited supply and a location that works for companies moving goods, crews, clients and equipment across the valley.
For local business readers, the takeaway is simple: what is for sale often serves as a leading indicator of what comes next. These listings show where sellers believe there is buyer demand, where older retail boxes need a new plan, where office is still viable in the right setting and where scarce land near Highway 111 retains strategic value.
Some of these properties will trade because their income is secure. Others will trade because their current use is not the highest and best one. In Greater Palm Springs, both stories matter.
Editor’s Note: All figures are drawn from public listing platforms and broker marketing materials and are subject to change. Prospective buyers, tenants and investors should verify pricing, tenancy, entitlements, financing assumptions, zoning and availability directly with the listing teams before relying on any information.
Bob Marra is the CEO/Publisher of GPS Business Insider. He has been studying, writing and giving presentations about business and public affairs news and issues and the local economy in the Greater Palm Springs/Coachella Valley region for more than 20 years.
