333 Palm Canyon DrPalm Springs, CA 92262

Property Details for 333 Palm Canyon Dr

Year built

1961

Construction

WOOD

Lot size

4.04 AC

Property size (Sq ft)

26,870 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

511-060-010

APU

511060010

Description

Exceptional opportunity to acquire a well-established bar and grill in the heart of Palm Springs, California. This turnkey asset sale includes a Type 47 liquor license, all furniture, fixtures, and equipment. The asking price is $675,000, with seller financing options available; $300,000 owner financing with a $375,000 down payment. The business operates within a prime, high-traffic location on a hard corner in the bustling barhopping district, consistently ranking among the top performers in the Coachella Valley for food and beverage sales. The property boasts a desirable location in an iconic mid-century modern building, featuring two elevated patios offering stunning views of Palm Canyon Drive. Extensive signage includes a large storefront sign and a prominent corner monument sign, ensuring high visibility. Situated at the southwest corner of South Palm Canyon Drive and Baristo Road, the business enjoys a strategic position directly across from the Palm Springs Art Museum Architecture & Design Center. The current lease is a NNN lease with two 5-year extension options, providing long-term stability. The property consists of one single-story building with four units. This Class A business presents a rare opportunity for a savvy investor seeking a profitable and established enterprise in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $8,388,086

  6.5%

  $7,742,850

  7%

  $7,189,788

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,076,966

  Geo Method

  $22,224,970

• Alternative Use

  Use

  Valuation

  Residential

  $8,452,942

  Hospitality

  $7,742,850

  Educational

  $6,441,960

  Medical

  $6,663,508

  Retail

  $10,020,826

Location Insight

City

Palm Springs

County

Riverside

State

California

Latitude

33.8007

Longitude

-116.544

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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