266 Palm Canyon Drive
Palm Springs, CA 92262
Active for $5,099,995
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 7,405 sqft
| MLS | 219122310PS |
| Year Built | 1981 |
| Property Type | |
| County | Riverside |
| Status | Active |
| Active | $5,099,995 |
| Structure Size | N/A sqft |
| Lot Size | 7,405 sqft |
| Beds | N/A |
| Baths |
Description
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%Annual Increases: 5%These favorable financial metrics offer a solid return on investment, with built-in growth potential from annual rent escalations.
Listing information courtesy of: Zoltan Posa, Coldwell Banker Realty (760) 485-0051. *Based on information from the Association of REALTORS/Multiple Listing as of 01/10/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Melvin Castro
REALTOR®
Direct: 818.857.2140
Email: Email Me
DRE: 01939407
DRE #01873088
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