262 S Palm Canyon Dr - Restaurant FOR SALE


Palm Springs, CA 92262- Downtown Palm Springs
$7,595,000 USD
949-401-9007
262 S Palm Canyon Dr, Palm Springs, CA for Sale
$7,595,000 USD
Restaurant - FOR SALE
1/18
null | 7.48% Cap Rate

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


HIGHLIGHTS

  • A++ downtown Palm Springs bar hopping zone location!
  • Highest foot traffic location in the entire Coachella Valley
  • The immediate block has the highest food & beverage revenues in the Coachella Valley
  • Strong demographics: over 34,000 population within a 3-mile radius with an average HH income of over $118,000
  • Mid-block signalized pedestrian-only crosswalk connects the subject property to numerous bars/restaurants across the street
  • Highly sought-after patio space on street-level space and a rare large deck on the second-floor space

OVERVIEW

LOCATION HIGHLIGHTS - Restaurant in A++ downtown Palm Springs restaurant/ bar zone - Take advantage of over 1,650,000 annual visitors to Palm Springs - The immediate block has the highest food & beverage revenues in the Coachella Valley - Strong demographics: over 34,000 population within a 3-mile radius with an average HH income of over $118,000 INVESTMENT HIGHLIGHTS - Mid-block signalized pedestrian-only crosswalk connects the subject property to numerous bars/restaurants across the street - 2-story building with contemporary architecture that stands out on the block - Quality steel frame constructed building with outstanding signage - Highest foot traffic location in the entire Coachella Valley - Extensive restaurant fixtures, furniture, and equipment - $1,000,000 interior building upgrades completed in 2022 in the vacant ground-floor space. - Contiguous to a 4-story City parking structure with free parking and deeded building signage for both tenants of the subject building facing Indian Canyon Drive. - Large, highly sought-after patio space on street-level space and a rare large deck on the second-floor space - 7 years left of the second-floor lease term and 10 years left on the street-level lease term

FOR SALE DETAILS

PRICE

$7,595,000 USD

PRICE/SF

$639 USD /SF

CAP RATE

7.48%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

CBD

APN/PARCEL ID

513-154-017

ASK ABOUT THIS PROPERTY

Rick GordonColdwell Banker Commercial Lyle & AssociatesMore Info
949-401-9007

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Rick GordonColdwell Banker Commercial Lyle & AssociatesMore Info
949-401-9007

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