12900 Palm Drive, Desert Hot Springs, CA 92240

Property Description

12900 Palm Drive presents a unique opportunity to acquire a freestanding commercial asset in the heart of Desert Hot Springs, CA, strategically located at the signalized intersection of Palm Drive and Hacienda Avenue in one of Coachella Valley's fastest-growing communities. Previously occupied by Rite Aid under a corporate-guaranteed NNN lease, the 12,616 SF building is currently dark, with the tenant no longer operating or paying rent. Although the lease technically remains in place through January 31, 2031, the tenant is in default creating a compelling value-add opportunity through re-tenanting, adaptive reuse, or full-scale redevelopment. Situated on two parcels totaling 61,854 SF (APNs: 641-153-033 & 641-153-034), the property features 256' of frontage along Palm Drive and 260' along Granada Avenue, a drive-thru, monument signage, and approximately 60 surface parking spaces. Originally built in 2000, the building underwent significant renovations in 2012, enhancing both curb appeal and functionality. Zoned C1 (Commercial Use), the site is ideal for a wide range of retail, medical, or mixed-use applications. Located at a signalized hard corner, the property benefits from exceptional visibility and exposure, with 31,900 vehicles per day passing through the Palm Drive x Hacienda Avenue intersection. Surrounded by national tenants including Stater Bros., Chase, McDonald's, AutoZone, and Taco Bell, this retail corridor is among the most active in Desert Hot Springs.