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$ 5,099,995
Est. payment | /mo
7,000 SqFt
$ 5,099,995
Est. payment | /mo
7,000 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 7,000 sqft
Price per Sqft $728
MLS Listing ID 219122310
HOA Y/N No
Year Built 1981
Tax Year 2024
Lot Size 7,405 Sqft
Property Sub-Type Retail
Property 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 Location
Located 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.
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 Location
Located 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.
Location
State CA
County Riverside
Area 332 - Palm Springs Central
Interior
Heating Central, Forced Air
Building
Lot Description Corners Marked, Landscaped, Rectangular Lot
Story 2
Others
Acceptable Financing All Inclusive Trust Deed, Fractional Interest, Owner May Carry
Listing Terms All Inclusive Trust Deed, Fractional Interest, Owner May Carry
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=CW3MiKXccb2&mls=1
Listed by Coldwell Banker Realty
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