In the Barhopping Zone of Downtown Palm Springs

ABOUT MOXIE: Eat Drink Dance and Play with Moxie! Fun Casual Rooftop restaurant & lounge in the heart of Downtown Palm Springs. Hip live stream music to get the party jumpin while you enjoy food and drinks till we can dance the night away! Moxie was opened as a neighborhood bar where everyone is welcome to come relax and unwind! Great Food, Great Music, Great Views, Great Drinks! BUSINESS HISTORY: Moxie was originally created in 2016 by the Broken Yolk when after 20 years in business The Chop House, a steakhouse left both levels of the building and Broken Yolk won a bidding war over five other Tenants to get the space. Originally Broken Yolk, a breakfast concept, was only interested in the first floor of the building but after review of the location and seeing the crowds of people waiting to pay a cover charge to get into the neighboring business the Village Pub at night Broken Yolk decided to take both levels of the building and create the Moxie concept on the 2nd floor while the Broken Yolk breakfast concept occupied the ground level. After five years of successful operations the Broken Yolk decided to sell the business at this location in 2020 including a location in Temecula and one in La Quinta due to internal issues with the operating franchisee. The current sellers purchased the business from the Broken Yolk at this location only in August 2020. The current owners immediately shut the Broken Yolk down on the ground level and started improving the space, at the time they continued to operate Moxie on the 2nd floor and around February/March 2021 they opened the entire building as Moxie including the Voodoo Lounge which is the current concept of the business. BUSINESS HIGHLIGHTS: - Rent is below market value at only $2.16 per SF/MO with comparable properties renting at $3.00 - $4.00 per SF/MO. The rent doesn’t hit even $3.00 per SF/MO until July 01, 2028 which is year 8 of the lease. - Upside in multiple directions to increase the sales from $2,735,787 with potential to hit $4,000,000 $6,000,000 a year by 2024. - Two full kitchens, one on the ground floor and one on the second floor of the building which allows for additional upside by creating two separate concepts on each floor. -Over $1,000,000 in alcohol sales in 2021 with the potential to double or triple alcohol sales by 2023. $50 million plus in food and beverage sales within this amazing block of downtown Palm Springs. - Mid-block signalized pedestrian only crosswalk connects the subject property to numerous bars/restaurants across the street. - The business is located within a block that is part of the VillageFest which was started by Sonny Bono as Mayor in 1991. The street is closed to vehicular traffic and is transformed into a festive, pedestrian street fair featuring arts, crafts, food and entertainment. The VillageFest attracts between 4,000 to 10,000 people every Thursday between 6:00 p.m. and 10:30 p.m. Highest foot traffic location in the entire Coachella Valley. - 4 story, 129 parking spaces parking structure located directly behind business which allows for two additional signage opportunities on Indian Canyon Drive and reserved parking spaces within the structure for this business. - $500,000 interior building upgrades completed in 2021. - Type 47 Liquor license and all FF&E included in the sale. - Quality steel frame constructed building with outstanding signage. Location: Palm Springs, California Real Estate: Leased Building Sq. Ft.: 11,882 Rent: $25,750.00 Per Month Lease Expiration: 7/31/2031