262 S Palm Canyon Dr, Unit 100 Palm Springs, CA 92262
Restaurant space on South Palm Canyon Drive with high foot traffic.
Building Details
- Year built
- 1985
Source:
Cbclyle
Listing Agent: Michael Lyle
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Palm Springs Restaurant Opportunity
Located on South Palm Canyon Drive in downtown Palm Springs, this property benefits from high foot traffic. A mid-block signalized pedestrian crosswalk connects the property to bars and restaurants across the street. The building is of steel frame construction and features signage. The location experiences substantial food and beverage sales. The property includes a large patio space. Interior building upgrades were completed in 2022 in the vacant ground floor space. The property is contiguous to a four-story city parking structure with free parking and deeded building signage facing Indian Canyon Drive. There is an existing tenant with over 7 years remaining on the initial lease term. The existing tenant has 3% annual rent increases and 5% percentage rent with an artificial break point. The vacant ground floor space contains restaurant fixtures, furniture, and equipment.
Location Intelligence
Current Use by Public Records
Sol Agave - Palm ...
Restaurant
Rooftop 262 Bar ...
Nightclub
bar 1
Bar & Pub
Broken Yolk Cafe ...
Restaurant
Similar Places Nearby
Savoury's Good Earth Cuisine, Inc. Full Service Catering, Knife + Fork, Savoury's, Lulu California Bistro, Crayons Catering
Location Insight
- Map
- Local Demand
- City
- Palm Springs
- County
- Riverside
- State
- California
- Longitude
- -116.5463737
- Latitude
- 33.8201542
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - Restaurant space on South Palm Canyon Drive with high foot traffic.
Where is this restaurant located?
The property is located at 262 S Palm Canyon Dr, Unit 100 Palm Springs, CA.
What is the asking price?
The asking price for this property is $8,349,000.
What are key features of this property?
This property features: - Located on South Palm Canyon Drive in Downtown Palm Springs with the highest foot traffic in the Coachella Valley.; - $1,000,000 in interior building upgrades completed in 2022 in the vacant ground floor space.; - Over 7 years initial lease term remaining for existing tenant with 3% annual rent increases and 5% percentage rent.
