Freestanding Restaurant and
For Sale
Contact for pricing
31502 Riverside, Lake Elsinore, CA 92530
Freestanding 1982 restaurant and bar renovated in 2022, with covered patio, liquor license, and in-house entertainment setup.
Property Size2,776 SF
Price / SF$153.10
Days on Market55
Property Features for 31502 Riverside
General Information
Standard status
Active
Size
2,776 SF
Property subtype
Special Purpose
Zoning
CP
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1982
Year Renovated
2022
Listing Agency:
Century 21 Masters
(562) 419-4942
Listed By:
Leticia Vega · License #CA
Source:
Crexi
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 21 at 1:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Masters
Investment Insights
Based on property information with market context.
This freestanding restaurant and bar property includes a 2,776-square-foot building originally constructed in 1982 and extensively renovated in 2022. An additional 800-square-foot covered patio supports outdoor dining or overflow service. The offering includes a Type 48 liquor license and a turnkey operating setup designed for bar-and-grill service, with seating for 99 guests and multiple in-house service and entertainment features.
The property is zoned CP (Commercial Professional) and is located on Ortega Hwy just as you come into Lake Elsinor. It is configured for a straightforward front-of-house experience, with bar service supported by 10 beer taps and three wells behind the bar.
For an owner-user, this layout and equipment package is positioned to support a bar-and-grill concept without major start-up work. The included amenities include a Touchtunes jukebox, multiple Samsung smart TVs, and a sound system with a DJ setup, along with a flat top grill, two fryers, and a pizza oven. Note that the business is required to be purchased in conjunction with the real estate as part of the same overall transaction.
The property is zoned CP (Commercial Professional) and is located on Ortega Hwy just as you come into Lake Elsinor. It is configured for a straightforward front-of-house experience, with bar service supported by 10 beer taps and three wells behind the bar.
For an owner-user, this layout and equipment package is positioned to support a bar-and-grill concept without major start-up work. The included amenities include a Touchtunes jukebox, multiple Samsung smart TVs, and a sound system with a DJ setup, along with a flat top grill, two fryers, and a pizza oven. Note that the business is required to be purchased in conjunction with the real estate as part of the same overall transaction.
Key Highlights
- 2,776 SF freestanding restaurant/bar building built in 1982 and renovated in 2022
- Includes an additional 800 SF covered patio and seating for 99 persons
- Zoned CP (Commercial Professional) and located on Ortega Hwy just as you come into Lake Elsinor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,003
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$700,060
$700.1K
Cap Rate 7%
$500,043
$500.0K
Cap Rate 9%
$388,922
$388.9K
Market Conditions
NOI Build-Up for 2,776 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.0K $18.00/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$46.7K $16.81/SF
− OpEx
−$11.7K −$4.20/SF
NOI
$35.0K $12.61/SF
Area
Riverside County, CA
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$700,060
Cap Rate 7%
$500,043
Cap Rate 9%
$388,922
Alternative Uses
Best Use
Specialty Retail
$500.0K
$437.5K – $583.4K
NOI $35,003 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$831.6K
$727.7K – $970.3K
NOI $58,215 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
71k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Shops & Services 29%
Dining 23%
Albertsons
Groceries
34,086 visits/mo
0.5 miles
Starbucks
Dining
14,849 visits/mo
0.4 miles
ARCO
Shops & Services
7,607 visits/mo
0.4 miles
Chevron
Shops & Services
5,614 visits/mo
0.4 miles
AutoZone
Shops & Services
4,430 visits/mo
0.5 miles
Demographics for 92530, CA
59,098
Population
18,502
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
77.1 sq mi
ZIP Area
767
Density / Sq Mi
$84,799
Median Household Income
$41,138
Median Earnings
$1,705
Median Rent
$467,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Freestanding 1982 restaurant and bar renovated in 2022, with covered patio, liquor license, and in-house entertainment setup.
Where is this bar & pub located?
The property is located at 31502 Riverside Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,776 SF freestanding restaurant/bar building built in 1982 and renovated in 2022; Includes an additional 800 SF covered patio and seating for 99 persons; Zoned CP (Commercial Professional) and located on Ortega Hwy just as you come into Lake Elsinor
