266 S Palm Canyon Dr - Restaurant FOR SALE


Palm Springs, CA 92262- Downtown Palm Springs
$5,099,995 USD
760-485-0051
266 S Palm Canyon Dr, Palm Springs, CA for Sale
$5,099,995 USD
Restaurant - FOR SALE
1/39
null | 6% Cap Rate

266 S Palm Canyon Dr
Palm Springs, CA 92262
Downtown Palm Springs


HIGHLIGHTS

  • The restaurant, bar and night club business can be purchased with the commercial real estate.
  • Approximately 1 million tourists stay in hotels in Palm Springs annually while another 600,000 visitors stay in non-hotel accommodations.
  • Strategically situated on famous Palm Canyon Drive with signage and storefronts visible to over 45,000 daily drivers.
  • The property is located in a very prominent area of downtown Palm Springs along with other tenants such as H & M, Tommy Bahamas and Hotel Zozo.

OVERVIEW

The Village is a legendary and iconic establishment. The Village opened in 1996 to be a fun, exciting establishment with an international spin, offering great food, riveting entertainment, and dancing till 2 am, 7 nights a week. This filled a niche that was missing at the time in Palm Springs – for a place where one could eat, drink and dance till 2 am 7 days a week. Today. After 27 year, The Village continues to be the leading edge, thanks to its progressive management and its ability to adapt and evolve. Serving restaurant, bar, and nightclub patronage, events, private parties, bridal parties, and city events. This property is also available for sale within place leased at $28,000 a month or $305,999.00 annually @ a 6.00 Cap Rate. Sale Price: The building is offered at $5,099,995. This property can also be purchased as a syndication for multiple 1031 buyers, TIC. This trophy property can be purchased with tenant in place with a 10 year lease with two, five year options. Please contact listing agent Zoltan Posa for all financials. Link for Matterport 3D Walkthrough. https://my.matterport.com/show/?m=CW3MiKXccb2&mls=1

FOR SALE DETAILS

PRICE

$5,099,995 USD

PRICE/SF

$732 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Village

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Fast Food, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,505 SF

ZONING

C1

APN/PARCEL ID

513-154-016

ASK ABOUT THIS PROPERTY

Zoltan PosaColdwell Banker RealtyMore Info
760-485-0051

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Zoltan PosaColdwell Banker RealtyMore Info
760-485-0051

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.