Entitled Self-Storage Development – Palm Springs, CA
950 N Farrell Dr, Palm Springs, CA 92262
This development opportunity consists of 4.20 acres of land with entitled plans for a Class A storage and RV facility, featuring 64,092 gross SF and 52,425 rentable SF. The design is all single-story with an excellent mix of climate-controlled and drive-up units. The current design does not maximize the allowable FAR, and with a redesign, there is the possibility of adding an additional +/- 27,000 SF.
The site is located directly on the highly trafficked N Farrell Drive, which sees nearly 13,500+ vehicles per day. It is strategically positioned close to main interstates and downtown Palm Springs, one of California’s premier high-end tourist destinations. Demand is bolstered by the high volume of tourists, retirees, and seasonal residents, all of whom require flexible and secure self-storage options. With summer temperatures consistently reaching the low 100s, climate-controlled storage options are in high demand but low in supply in the immediate trade area, with only +/- 2.0 NRSF per capita of climate-controlled product. Additionally, the immediate trade area boasts an average household income of nearly $108,000.
Furthermore, there are plans for numerous new homes and residential developments in the area, which will further increase demand for storage solutions.