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262 S Palm Canyon Dr, Unit 100 Palm Springs, CA 92262

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For Sale
$8,349,000

Restaurant space on South Palm Canyon Drive with high foot traffic.

Building Details

Year built
1985

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Listing Contact
Michael Lyle
Michael Lyle
Source: Cbclyle

Listing Agent: Michael Lyle

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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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

Suggested Use

Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Savoury's Good Earth Cuisine, Inc. Full Service Catering, Knife + Fork, Savoury's, Lulu California Bistro, Crayons Catering

Location Insight

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  • Local Demand
City
Palm Springs
County
Riverside
State
California
Longitude
-116.5463737
Latitude
33.8201542

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.
More about this property
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