$1,650,000
Sagewater Hotel and Mineral Springs is a 5-star rated wellness retreat on Google and the #1 ranked hotel on TripAdvisor in Desert Hot Springs - California's renowned Spa City. This award-winning mid-century modern boutique hotel, originally built in 1955, has been thoughtfully renovated to honor its iconic design. Sagewater is one of the last remaining mid-century modern hotels in the area, prime for development, with a unique opportunity to purchase five (5) surrounding vacant lots Zoned Visitor-Mixed Use that offer a rare option to expand into a larger wellness destination. Eight guest rooms plus Office and Laundry Room surround the geothermal pool, offering sweeping desert and San Jacinto Mountain views, with in-room kitchens and refined amenities. One of the rooms is currently operated as a highly successful on-site spa which has validated strong demand for expansion of additional wellness rooms on vacant lots. At the heart of the property is a rare ~160 geothermal mineral water well, supplying a 80-90 degree mineral pool and 102-104 degree spa renowned for their therapeutic benefits. Set atop Miracle Hill, the hotel enjoys panoramic views across the Coachella Valley and is proximal to Greater Palm Springs, Palm Springs International Airport, and Joshua Tree National Park. Exceptional, one-of-a-kind asset with significant development upside. This property is not just an investment; it's an opportunity to own a piece of the desert's heart and history. Sale includes Hotel on 8500 sq ft Lot, Mineral Well, All FF&E, Website, Social Media and systems in place. Also available for purchase are 5 additional lots each about 8500 sq ft. Please see images for lot locations. Please contact listing agent for Offering Memorandum and more information.
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Listed by Paul Fisher with Compass (310) 437-7500
Property Type
Residential Income
Status
Active
MLS Number
26638757
Year Built
1957
Lot Size
8,499 sq ft