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31502 Riverside Dr
Lake Elsinore, CA 92530
Retail Property For Sale
Investment Highlights
- 2,776 SF building with an additional 800 SF covered patio
- Located on Ortega Hwy just as you come into Lake Elsinor.
- Ringside Bar and Grill to be sold concurrently at $379,000
- Built in 1982 Renovated in 2022
- Cap Rate is based on Market rent of $12,000 a month NNN
- Buisness generates over $1,000,000 in GSI, Includes a Type 48 liquor license
Executive Summary
Acquire a rare opportunity to own both the real estate and the established Ringside Bar & Grill in the growing community of Lake Elsinore, California. The real estate must be purchased in conjunction with the business, which is offered separately at $379,000. The business generates gross annual sales exceeding $1,000,000, making this an outstanding opportunity for an owner-user seeking an established, turnkey operation.
The property features a 2,776-square-foot freestanding building that underwent extensive renovations in 2022, creating a modern, attractive, and welcoming environment for patrons. Originally constructed in 1982, the property has been thoughtfully updated and is well-positioned for continued success.
Ideally located in the vibrant Lake Elsinore market and zoned CP (Commercial Professional), the property offers excellent visibility, accessibility, and long-term growth potential. Whether you are an experienced restaurateur looking to expand or an entrepreneur seeking to own your own business and real estate, this offering provides a unique opportunity to acquire a thriving business and a strategically located commercial property in one transaction.
The property features a 2,776-square-foot freestanding building that underwent extensive renovations in 2022, creating a modern, attractive, and welcoming environment for patrons. Originally constructed in 1982, the property has been thoughtfully updated and is well-positioned for continued success.
Ideally located in the vibrant Lake Elsinore market and zoned CP (Commercial Professional), the property offers excellent visibility, accessibility, and long-term growth potential. Whether you are an experienced restaurateur looking to expand or an entrepreneur seeking to own your own business and real estate, this offering provides a unique opportunity to acquire a thriving business and a strategically located commercial property in one transaction.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Building Size
2,776 SF
Building Class
C
Year Built/Renovated
1982/2022
Price
$2,496,250 CAD
Price Per SF
$899.23 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.33 AC
Zoning
CP
Parking
20 Spaces (7.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 379-191-029 | Improvements Assessment | $163,072 CAD |
| Land Assessment | $150,598 CAD | Total Assessment | $313,670 CAD |
Property Taxes
Parcel Number
379-191-029
Land Assessment
$150,598 CAD
Improvements Assessment
$163,072 CAD
Total Assessment
$313,670 CAD
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