7,000 SqFt
7,000 SqFt
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
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
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