Location Description

Located in the highly popular East Palm Canyon Corridor between the Ace Hotel and the Saguaro Hotel. This desirable wind free area of Palm Springs is owned by the Agua Caliente Indians and ground leased to Hotels, Restaurants, Shopping Centers and Condominium projects throughout the corridor. The maximum terms are 99 year leases and extensions to older leases have been granted subject to appraisal and Bureau of Indian Affairs approval.

PROPERTY HIGHLIGHTS

• 1201 East Palm Canyon Drive / ±7,500 SF Restaurant / APN 511-020-037 / ±1.34 Acres
• 1243 East Palm Canyon Drive / ±4,375 SF Restaurant / APN 511-020-038 / ±0.94 Acres
• 1269 East Palm Canyon Drive / 143 Room Hotel / APN 511-020-039 / ±4.71 Acres

REDEVELOPMENT OPPORTUNITIES
Hotel – Renovate, rebrand, add amenities on excess land, or relocate and expand pool area to front of hotel rooms (middle of property).

• Redevelop into a popular pool party venue with outdoor bar and entertainment. Restaurants – Renovate and integrate into a full service resort or lease separately to subtenants or demolish and add height and density to either or both prime frontage parcels. Age: Hotel 1978 / Restaurants 1978-1979 Zoning: R3 – Multi family & hotel use/apartment, condo, restaurants, Rehab w/CUP, Assisted Living w/CUP

LEASE TERMS
Original Lease Date: June 7, 1977 Expiration Date: June 7, 2042 Current Years Remaining: 23 Years Extension Opportunity: Subject to approval upon finalization of probate court action, which is in progress. Lease Rate: $11,685.00 NNN per month ($140,220.00 annually) with CPI every 5 years

HOTEL AMENITIES
Room Mix
King Rooms – 51
King Suites – 7
Queen Rooms – 18
Double Queen Rooms – 62
Handicap Double King Rooms – 2
Handicap Double Queen Rooms – 2
Total Hotel Rooms – 143
Facilities
Meeting Room – 53 Persons / ±475 SF
Laundry Room – 1
Fitness Room – 1
Lobby & Employee Lounge – 1
Outdoor Heated Pool – 1
Outdoor Hot Tub – 1

OFFERING SUMMARY