Hotel and Restaurant Opportunity

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30724832
Property Subtypes: Free-Standing Building, Restaurant
Status: Pending/Contingent
Building Size (RSF): 7,552 SF
Gross Building Area: See Agent
Sale Price: $1,450,000
Unit Price: $192 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 4/30/2021

Overview / Comments

This is an incredible and rare opportunity to purchase a hotel and restaurant in the highly desirable Uptown Palm Springs. The property is conveniently located in a walkable, urban center with a variety of shopping and dining options and in close proximity to the Palm Springs revitalization project that aims to deliver new prestigious hotels, restaurants, shopping and office spaces to the area. Featuring 6 units, restaurant, large pool and ample parking, this property is an ideal redevelopment asset for an investor looking to acquire real estate in an area poised for continued short and long-term growth.

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 504242007
Zoning: C-1
Retail Clientele: Traveler, Tourist
Property Visibility: Excellent
Tenancy: Single Tenant
Year Built: 1958
Total Parking Spaces: 17
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,113 36,392 82,840
Median Age: 43.98 45.89 42.15
Households: 3,907 16,855 33,827

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