31502 Riverside,Lake Elsinore, CA 92530
Lake Elsinore, CA 92530
Description
Acquire a rare opportunity to own both the real estate and the established Ringside Bar & Grill in the growing community of Lake Elsinore, California. The real estate must be purchased in conjunction with the business, which is offered separately at $425,000. The business generates gross annual sales exceeding $1,000,000, making this an outstanding opportunity for an owner-user seeking an established, turnkey operation. Cap rate at $10,000 NNN is 6.82 The property features a 2,776-square-foot freestanding building that underwent extensive renovations in 2022, creating a modern, attractive, and welcoming environment for patrons. Originally constructed in 1982, the property has been thoughtfully updated and is well-positioned for continued success. Ideally located in the vibrant Lake Elsinore market and zoned CP (Commercial Professional), the property offers excellent visibility, accessibility, and long-term growth potential. Whether you are an experienced restaurateur looking to expand or an entrepreneur seeking to own your own business and real estate, this offering provides a unique opportunity to acquire a thriving business and a strategically located commercial property in one transaction. 2,776 SF building with an additional 800 SF covered patio Built in 1982 Renovated in 2022 Zoned CP Located on Ortega Hwy just as you come into Lake Elsinor. Cap Rate is based on Market rent of $10,000 a month NNN Ringside Bar and Grill to be sold concurrently at $425,000 Includes a Type 48 liquor license Seats 99 persons 10 beer taps, and 3 wells behind the bar Touchtunes jukebox Multuple Samsung Smart TVs Sound system with DJ set up Flat top grill Two fryers Pizza Oven
Details
| MLS # | DW26140807 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1982 |
| Days On Site | 79 |
| Listing Provided By | Century 21 Masters | Edwin Huber |
Features
| SQ Feet | 2,776 |
|---|---|
| Story(s) | 1 |
| Building(s) | 1 |
| Acreage | 0.33 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Flat |
|---|---|
| Security Features | Security System |
| Lot Features | Zero To One Unit Acre, Corner Lot |
| Fencing | Excellent Condition |
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Lake Elsinore |
| Zip Code | 92530 |
| Area | SRCAR Southwest Riverside County |
| Listing VS Median (in 92530) | |
Price: $1,759,000 low | high Med: $729,500 sqft: 2,776 low | high Med: 2,687 $ / sqft: $634 low | high Med: $281 On site: 79 low | high Med: 205 | |
Market Activity 92530
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Lake Elsinore |
| Zip Code | 92530 |
| Area | SRCAR Southwest Riverside County |
| Listing VS Median (in 92530) | |
Price: $1,759,000 low | high Med: $729,500 sqft: 2,776 low | high Med: 2,687 $ / sqft: $634 low | high Med: $281 On site: 79 low | high Med: 205 | |