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31502 Riverside Dr 2,776 SF Retail Building Lake Elsinore, CA 92530 $2,452,187 CAD ($883.35 CAD/SF)
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. Note rear parking lot is not included in the sale.
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. Note rear parking lot is not included in the sale.
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
$2,452,187 CAD
Price Per SF
$883.35 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
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 379-191-029 | Improvements Assessment | $163,540 CAD |
| Land Assessment | $151,030 CAD | Total Assessment | $314,570 CAD |
Property Taxes
Parcel Number
379-191-029
Land Assessment
$151,030 CAD
Improvements Assessment
$163,540 CAD
Total Assessment
$314,570 CAD
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31502 Riverside Dr
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