262 Palm Canyon DrPalm Springs, CA 92262

Property Details for 262 Palm Canyon Dr

Year built

1985

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

11,246 SF

Zone code

C1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

513-154-017

APU

513154017

Description

This exceptional 6,226 square foot restaurant space is located in a Class B, two-story building totaling 11,882 square feet. Situated in Riverside County, near Baristo Road, this property boasts a prime location in the Coachella Valley, known for its exceptionally high foot traffic. The building itself is of quality steel-frame construction and offers outstanding signage opportunities. A significant advantage is the mid-block, signalized pedestrian crosswalk directly connecting the property to a vibrant cluster of bars and restaurants across the street, maximizing pedestrian access and visibility. This area generates over $50 million in annual food and beverage sales, as reported to the IRS, underscoring its exceptional commercial viability. The property is currently configured as a multi-tenant space, with a minimum divisible unit of 6,226 square feet. All furniture, fixtures, equipment, and a Type 47 full liquor license are available for separate purchase at $599,000, presenting a turnkey opportunity for a discerning buyer. This is a rare chance to acquire a high-performing retail space in one of the most desirable locations in the Coachella Valley.

• CAP approach

  CAP return

  Valuation

  6%

  $4,543,558

  6.5%

  $4,194,053

  7%

  $3,894,478

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,971,460

  Geo Method

  $9,974,802

• Alternative Use

  Use

  Valuation

  Residential

  $3,537,841

  Hospitality

  $3,240,643

  Educational

  $2,696,177

  Medical

  $2,788,903

  Retail

  $4,194,053

Location Insight

City

Palm Springs

County

Riverside

State

California

Latitude

33.8202

Longitude

-116.546

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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