266 Palm Canyon Drive,Palm Springs, CA 92262
Palm Springs, CA 92262
Description
This is an unparalleled opportunity to own an iconic, trophy building situated in the vibrant heart of downtown Palm Springs. The Village, a legendary and thriving establishment, has been a cornerstone of the city's dynamic entertainment scene since its inception in 1996. Conceived as a high-energy venue with an international flair, The Village filled a unique niche by offering a seamless blend of dining, entertainment, and nightlife--serving great food, providing captivating entertainment, and hosting dancing until 2 a.m., seven nights a week.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 LocationLocated 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: $28,000 per month ($336,000 annually)Cap Rate: 6.12%Annual Increases: 5%These favorable financial metrics offer a solid return on investment, with built-in growth potential from annual rent escalations.
Details
| MLS # | 219122310PS |
|---|---|
| Listing Type | For Sale |
| Building Name | The Village Pub |
| Sub-Type | Resale |
| Status | Active |
| Year | 1981 |
| Days On Site | 169 |
| Listing Provided By | Coldwell Banker Realty | Zoltan Posa |
Features
| Story(s) | 2 |
|---|---|
| Building(s) | 1 |
| Acreage | 0.17 |
Interior
| Heating | Central, Forced Air, Natural Gas |
|---|---|
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Exterior
| Exterior Features | Misting System |
|---|---|
| Roof | Fire Proof, Metal |
| Security Features | Carbon Monoxide Detectors, Fire Detection System, Twenty Four Hour Security, Smoke Detectors |
| Lot Features | Landscaped, Near Public Transit, Rectangular Lot, Sprinkler System, Street Level |
Utilities
| Utilities | Electricity Connected, Natural Gas Available, Phone Connected, Underground Utilities |
|---|
Market Activity 92262
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Palm Springs |
| Zip Code | 92262 |
| Area | 332 Central Palm Springs |
| Listing VS Median (in 92262) | |
Price: $4,999,995 low | high Med: $1,640,000 On site: 169 low | high Med: 93.000000 | |