266 Palm Canyon Drive Palm Springs CA 92262 MLS #219122310PS

266 Palm Canyon Drive
Palm Springs, CA, 92262
$5,099,995
Beds
0 Baths
SqFt
0 Acres
Add
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.

Property Details

Price:
$5,099,995
MLS #:
219122310PS
Status:
Active
Baths:
0
Address:
266 Palm Canyon Drive
Type:
Commercial
City:
Palm Springs
Listed Date:
Jan 9, 2025
State:
CA
ZIP:
92262
Year Built:
1981
Ask a Question

See this Listing

Send
  

Mortgage Calculator

 

Schools

Interior

Heating
Central, Natural Gas, Forced Air

Exterior

Roof
Metal, Fire Retardant
Security Features
24 Hour Security, Fire and Smoke Detection System, Carbon Monoxide Detector(s)
Stories Total
2

Financial

Utilities
Phone Connected, Underground Utilities, Natural Gas Available, Electricity Connected

Map

Community

Similar Listings Nearby

266 Palm Canyon Drive
Palm Springs, CA