$ 4,699,995
-
$4,699,995
Price -
0.17
Acre
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About the Listing PS8331 - PS01207667,PS50295
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: $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.
Listing Highlights for 266 Palm Canyon Dr
Interior Details
- Appliances:
- Air Cond:
- Heating: Central,Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Landscaped,Near Public Transit,Rectangular Lot,Sprinkler System,Street Level,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof: Fire Proof,Metal
- Others:
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 513154016
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
266 Palm Canyon Dr Palm Springs, CA 92262
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