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, Palm Springs, CA 92262

Commercial property for sale

  • Description
  • 9% CAP RATE WITH NEW 5 YEAR LEASE. One of the most successful restaurants in town. Five bars, beautiful restaurant, Two fun and profitable patios. Five + year track record of increasing sales. Existing business staying in place and will lease back from new owner. $15,000 per month– A 9% cap rate !!!! Palm Canyon Dr. north of Amado Rd. West side of street. City parking lot just to the north of the property WOW! Be sure to get one of the few downtown properties and businesses before the new downtown redevelopment begins. Measure J passed in November 2011 and construction will start soon on the fashion mall, a 1/2 block away. Interest and property values are sure to increase once construction begins. This will change forever the energy and attraction of Palm Springs to both national and international visitors. THE MORRISON consists of 200 new homes is in the final stages of construction which means approximately 400 potential new clients within walking distance!!! In addition to that the developer has just shifted gears on The PORT LAWRENCE project from condominiums to a high end boutique hotel property featuring I believe 200 suites and that is directly across the street and has been fully approved and ready to break ground. Building price details: $2,000,000.
  • Property Details
  • Building Name: Azul Restaurant & George's Alibi Bar
    Property Type: Retail
    Use Types: Restaurant, Tavern/Bar/Nightclub
    Status: Available
    Price: $ 183 +/SF
    Number of Stories: 2
    Year Built: 1926
    Year Renovated: 2005
    MSA: Riverside-San Bernardino-Ontario
    Zoning: C-1
    Buildings: 1
    Tenancy: Single Tenant
    Broadband Internet: Cable
    Construction: Brick
    Terms: Purchase Money Mortgage
    Added: 09/26/2011
    Last Update: 03/05/2013
  • Exterior Features
  • Parking: Yes
    Parking Spaces: 23
    Parking Type: Surface
  • Contact info
  • Ingrid Baddour, CCIM: 760-322-9032 X6 [Office]
    Baddour & Associates

  • Note

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