Nestled in the Coachelle Valley, Palm Springs is a hot spot for snowbirds, the LGBTQ community, 20 & 30 something SoCal weekend getaway-ers and tourists from all over the country looking to enjoy the scenic mountains and relaxed desert life. While it’s local population is still relatively small town status, tourism in the Coachella Valley typically sees 13-14 million visitors, supporting at least 53,000 tourism-related jobs and generating more than $7 billion into the local economic (2019).
The storefront available for purchase is located in the southern area of Downtown Palm Springs coined the Antique District (Tahquitz River Estates). It is one of the more affluent neighborhoods in Palm Springs and is very walkable due to local restaurants and vintage shops. Just across the street is a popular bar/lounge to the locals. The area is also famed for its mix of mid-century modern, Spanish Revival, and contemporary homes, making it a popular location for walking tours. The building was built in 1950 by Howard Lapham who was a local famous mid-century modern style architect. Recently renovated in 2021, the property has been restored to its original charm. It even attracts groups on walking tours who are visiting to appreciate the local architecture.
The current layout of the store utilizes a little less than half of the building with the other half that would be well suited for expansion or a consumption lounge. An addition of a lounge would be a great way to attract locals and tourists especially during events like Pride Week, Cochelle and other art and music festivals. Asking $2.5 MM (depending on deal structure) this is a perfect plug & play business or value-add play.