266 S Palm Canyon DR Palm Springs, CA 92262
7,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 7,000 sqft
Price per Sqft $671
MLS Listing ID 219142335
HOA Y/N No
Year Built 1981
Lot Size 7,405 Sqft
Property Sub-Type Retail
Property Description
Over the years, The Village has maintained its status as a cutting-edge destination, continuously adapting and evolving under progressive management. Today, it remains a premier venue catering to a diverse clientele for dining, drinks, and dancing.
Prime Downtown Location
Located in the bustling heart of downtown Palm Springs, this property benefits from unparalleled visibility and foot traffic, making it a prime location for business success. Surrounded by popular tourist attractions, luxury hotels, and renowned shopping and dining venues, The Village enjoys a constant flow of visitors and locals alike.
The property is currently occupied with a successful business in place, generating reliable rental income:
Lease Income: $29,400 per month ($352,800 annually!)
Cap Rate: 6.26%
Annual Lease Increases of 5% will be a 10.4 cap by year 9!
These favorable financial metrics offer a solid return on investment, with built-in growth potential from annual rent escalations.
Location
State CA
County Riverside
Area 332 - Palm Springs Central
Interior
Heating Central, Forced Air
Exterior
Exterior Feature Misting System
Utilities Available Natural Gas Available, Phone Connected, Underground Utilities, Electricity Connected
Building
Lot Description Corners Marked, Landscaped, Rectangular Lot
Story 2
Others
Acceptable Financing All Inclusive Trust Deed, Fractional Interest, Owner May Carry
Listing Terms All Inclusive Trust Deed, Fractional Interest, Owner May Carry
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=CW3MiKXccb2&mls=1
NEARBY SCHOOL & BUSINESS