3455–3475 N. Indian Canyon Drive is a four-building industrial complex in North Palm Springs totaling 43,216 square feet on just under three acres, with a compelling turnaround story. The property was acquired through foreclosure after a failed cannabis project, which left approximately 27,000 square feet vacant and the on-site 140-unit self-storage operation underperforming, with many units in default and the business operating unprofitably. The distressed nature of the asset presented a unique opportunity to acquire the property well below replacement cost and reposition it through active management and strategic leasing.

Following acquisition for $3,650,000 in April 2024, the property underwent rapid operational stabilization and income optimization. A key milestone was the execution of a lease with an independent gym franchise opening its fourth location, securing the previously vacant 27,000 square feet while the asset was still in escrow—significantly improving occupancy and income stability. The self-storage operation, now operated by The Firm Capital Group, contributes to a diversified and resilient income stream. These improvements supported a successful refinance in April 2025 at a $6,600,000 valuation, demonstrating meaningful value creation. Looking ahead, future plans include the redevelopment of the adjacent U-Haul parcel for a quick-service restaurant (QSR) and the potential addition of a Tesla supercharging station, further enhancing the property’s long-term growth, visibility, and demand within this high-performing industrial submarket.