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Hotel-Motel

Caliente Tropics Resort

411 E Palm Canyon Dr, Palm Springs, CA 92264

Listing Price: $11,500,000

Cap Rate
7.60%
Number of Rooms
92
RevPAR
$75
Gross SF
17,084
Price/Room
$125,000
RRM
5.00
Price/Gross SF
$673.14
Year Built
1963

Investment Overview

Marcus & Millichap proudly presents the Caliente Tropics Resort Hotel. The Caliente Tropics is a 92-room full-service hotel featuring Polynesian and Tiki-style lush oasis grounds, two full-service restaurants, a beautiful 65-foot pool, and a twelve-person sauna, all located in the heart of Palm Springs, California. As a hangout for the Rat Pack in the 1960s, the resort has been a hotspot for the famous seeking to escape Hollywood. The rooms feature upscale, boutique-style furnishings with a mix of traditional rooms and suites, all situated on 3 acres of land surrounded by the magnificent San Jacinto Mountains, which provide spectacular views and idyllic sunsets nestled within the Coachella Valley. The grounds are adorned with authentic tiki statues, wood carvings, palapa huts, lush gardens, and tall manicured palm trees.

The Caliente Tropics comprises three separate two-story buildings with exterior corridors that combine the guest rooms with motor lodge-style parking directly in front of the rooms. The property features secure front and rear entry and exit points, all encompassed within the 3-acre grounds. The resort features the Reef Bar, a full-service bar and restaurant, which is a popular hangout for both hotel guests, vacationers, and locals, and Sancho's Baja Style Mexican restaurant, which is also popular among outside patrons. The restaurants are serviced by a 1,500 sq. ft. kitchen with all equipment included in the purchase. Amenities for the hotel also include a newly renovated lobby, a fitness center, and a guest lounge. The Tahitian Lanai offers cabanas with day beds, an outdoor recreational area with ping-pong tables and shuffleboards, and includes outdoor meeting space for up to 250 people. The resort hosts several weddings throughout the year, as well as the annual "Tiki Caliente" event, which is part of a national Tiki convention featuring thousands of followers.

The property is located 1 mile from downtown Palm Springs on Palm Canyon Blvd, the main thoroughfare running through the city. Palm Springs has experienced consistent revenue per available room (RevPAR) growth over the last seven years and has been revitalized into one of the hottest tourist destinations in California. The Caliente Tropics has benefited from consistent RevPAR growth over the same period and remains one of the most popular hotel destinations in Palm Springs.

Investment Highlights

  • Resort-Style Hotel with Rich Palm Springs History
  • Upscale, Boutique-Style Rooms and Well-Maintained Grounds
  • Property Qualifies for Special Tax Incentives
  • Ideally Located Off of Highway 111, Just 1 Mile from Downtown
  • Nearby Attractions Include Agua Caliente Casino, Palm Springs Aerial Tramway. Living Desert Zoo & Gardens, Several Museums and More
  • Minutes to Palm Springs Convention Center, College of the Desert, and Two Medical Centers
  • 24 Miles to Desert Polo Club, Host of Coachella & Stagecoach Music Festivals (380k+ Combined Attendees in 2024 - Record Year)
  • 3 Miles to Palm Springs International Airport (3.2M Passengers in 2023 - Record Year)

Exclusively Listed By

  • Gordon Allred

    Senior Managing Director Investments

    (909) 456-3420

    Email Gordon

    License(s): CA: 00927200, NV: BS.0146254

    Inland Empire

Hotel-Motel

Caliente Tropics Resort

Listing Price: $11,500,000

Cap Rate
7.60%
Number of Rooms
92
RevPAR
$75
Gross SF
17,084
Price/Room
$125,000
RRM
5.00
Price/Gross SF
$673.14
Year Built
1963

Investment Highlights

  • Resort-Style Hotel with Rich Palm Springs History
  • Upscale, Boutique-Style Rooms and Well-Maintained Grounds
  • Property Qualifies for Special Tax Incentives
  • Ideally Located Off of Highway 111, Just 1 Mile from Downtown
  • Nearby Attractions Include Agua Caliente Casino, Palm Springs Aerial Tramway. Living Desert Zoo & Gardens, Several Museums and More
  • Minutes to Palm Springs Convention Center, College of the Desert, and Two Medical Centers
  • 24 Miles to Desert Polo Club, Host of Coachella & Stagecoach Music Festivals (380k+ Combined Attendees in 2024 - Record Year)
  • 3 Miles to Palm Springs International Airport (3.2M Passengers in 2023 - Record Year)

Investment Overview

Marcus & Millichap proudly presents the Caliente Tropics Resort Hotel. The Caliente Tropics is a 92-room full-service hotel featuring Polynesian and Tiki-style lush oasis grounds, two full-service restaurants, a beautiful 65-foot pool, and a twelve-person sauna, all located in the heart of Palm Springs, California. As a hangout for the Rat Pack in the 1960s, the resort has been a hotspot for the famous seeking to escape Hollywood. The rooms feature upscale, boutique-style furnishings with a mix of traditional rooms and suites, all situated on 3 acres of land surrounded by the magnificent San Jacinto Mountains, which provide spectacular views and idyllic sunsets nestled within the Coachella Valley. The grounds are adorned with authentic tiki statues, wood carvings, palapa huts, lush gardens, and tall manicured palm trees. The Caliente Tropics comprises three separate two-story buildings with exterior corridors that combine the guest rooms with motor lodge-style parking directly in front of the rooms. The property features secure front and rear entry and exit points, all encompassed within the 3-acre grounds. The resort features the Reef Bar, a full-service bar and restaurant, which is a popular hangout for both hotel guests, vacationers, and locals, and Sancho's Baja Style Mexican restaurant, which is also popular among outside patrons. The restaurants are serviced by a 1,500 sq. ft. kitchen with all equipment included in the purchase. Amenities for the hotel also include a newly renovated lobby, a fitness center, and a guest lounge. The Tahitian Lanai offers cabanas with day beds, an outdoor recreational area with ping-pong tables and shuffleboards, and includes outdoor meeting space for up to 250 people. The resort hosts several weddings throughout the year, as well as the annual "Tiki Caliente" event, which is part of a national Tiki convention featuring thousands of followers. The property is located 1 mile from downtown Palm Springs on Palm Canyon Blvd, the main thoroughfare running through the city. Palm Springs has experienced consistent revenue per available room (RevPAR) growth over the last seven years and has been revitalized into one of the hottest tourist destinations in California. The Caliente Tropics has benefited from consistent RevPAR growth over the same period and remains one of the most popular hotel destinations in Palm Springs.

Exclusively Listed By

  • Gordon Allred

    Senior Managing Director Investments

    (909) 456-3420

    Email Gordon

    License(s): CA: 00927200, NV: BS.0146254

    Inland Empire

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