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    262 Palm Canyon Dr Palm Springs, CA 92262

    Sponsored
    For Sale
    $599,000

    Prime Location, High Sales, Turnkey Operation

    Property size:
    6,226 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional restaurant asset sale presents a unique opportunity in the heart of Palm Springs, California. Located on the world-famous South Palm Canyon Drive, this 6,226 square foot, Class A establishment boasts a prime location with the highest foot traffic in the Coachella Valley. A mid-block, signalized pedestrian crosswalk enhances accessibility, connecting the property to numerous neighboring bars and restaurants. The building, constructed with a quality steel frame, features outstanding signage. The sale includes all furniture, fixtures, and equipment, along with a valuable Type 47 full liquor license (estimated $100,000 value). Significant recent improvements totaling $700,000 were completed in 2022 by the existing tenant. The property benefits from a strong sales history, exceeding $50 million in food and beverage sales within the immediate area. The current lease is a NNN, multi-tenant agreement with 6.9 years remaining (through October 11, 2031), with a 10-year renewal option. This turnkey operation is ideally suited for an experienced restaurateur seeking a high-volume, established business in a vibrant and desirable location. The asking price is $599,000. This is a fee simple ownership opportunity.

    Property Features for 262 Palm Canyon Dr

    General Information

    Property type
    Investment properties
    Square Feet
    6,226 SF
    Class
    A

    Building Details

    Units
    1

    HighLights

    • Prime Palm Springs location on South Palm Canyon Drive.
    • 6,226 SF Class A restaurant with high foot traffic.
    • NNN lease with 6.9 years remaining and a 10‑year renewal option.
    • Includes FF&E and valuable Type 47 liquor license (approx. $100,000 value).
    • $700,000 in recent improvements (2022).
    • Asking price: $599,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sol Agave - Palm ... Mexican Restaurant Rooftop 262 Bar ... Night Club bar 1 Bar Broken Yolk Cafe ... Breakfast Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.54678842568
    Latitude
    33.820194600092

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    FAQs

    What type of property is this?
    Investment property - Prime Location, High Sales, Turnkey Operation
    Where is this investment property located?
    The property is located at 262 Palm Canyon Dr Palm Springs, CA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Prime Palm Springs location on South Palm Canyon Drive.; 6,226 SF Class A restaurant with high foot traffic.; NNN lease with 6.9 years remaining and a 10-year renewal option.
    (760) 772-6400
    Request Owner's contact information
    262 Palm Canyon Dr Palm Springs, CA 92262
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    Palm Springs, CA 92262
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    262 Palm Canyon Dr Palm Springs, CA 92262
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