266 Palm Canyon Drive, Palm Springs, CA, 92262

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$4,999,995
131 Days On Site

266 Palm Canyon Drive
Palm Springs, CA 92262

For Sale|Commercial Sale|Active
0
Beds
0
Full Baths
0
Partial Baths

SqFt

/SqFt
1981
Built
County:
Riverside
Listed by Zoltan Posa of Coldwell Banker Realty [email protected]
266 Palm Canyon Drive266 Palm Canyon Drive266 Palm Canyon Drive266 Palm Canyon Drive
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Monthly Payment (Est.)

$22,812
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This is an unparalleled opportunity to own an iconic, trophy building situated in the vibrant heart of downtown Palm Springs. The Village, a legendary and thriving establishment, has been a cornerstone of the city's dynamic entertainment scene since its inception in 1996. Conceived as a high-energy venue with an international flair, The Village filled a unique niche by offering a seamless blend of dining, entertainment, and nightlife--serving great food, providing captivating entertainment, and hosting dancing until 2 a.m., seven nights a week.Over the years, The Village has maintained its status as a cutting-edge destination, continuously adapting and evolving under progressive management. Today, it remains a premier venue catering to a diverse clientele for dining, drinks, and dancing.Prime Downtown LocationLocated in the bustling heart of downtown Palm Springs, this property benefits from unparalleled visibility and foot traffic, making it a prime location for business success. Surrounded by popular tourist attractions, luxury hotels, and renowned shopping and dining venues, The Village enjoys a constant flow of visitors and locals alike.The property is currently occupied with a successful business in place, generating reliable rental income:Lease Income: $28,000 per month ($336,000 annually)Cap Rate: 6.12%Annual Increases: 5%These favorable financial metrics offer a solid return on investment, with built-in growth potential from annual rent escalations.

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Listing Snapshot
Price 
$4,999,995
Days On Site 
131 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.17 Acres
Year Built 
1981
MLS® Number 
219122310PS
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
6 days agoListing updated with changes from the MLS®
6 days agoPrice changed to $4,999,995
4 months agoListing first seen on site
General Features
Acres 
0.17
Number Of Stories 
2
Security 
Carbon Monoxide Detector(s)Smoke Detector(s)24 Hour Security
Special Circumstances 
Standard
Utilities 
Electricity ConnectedNatural Gas AvailablePhone ConnectedUnderground Utilities
Interior Features
Heating 
CentralForced AirNatural Gas
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Exterior Features
Exterior 
Misting System
Lot Features 
LandscapedNear Public TransitRectangular Lot
Roof 
Metal
Community Features
Financing Terms Available 
Owner May Carry
MLS Area 
332 - Central Palm Springs


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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