31502 Riverside, Lake Elsinore, CA 92530
Riverside County
Key Facts
Description
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 $425,000. The business generates gross annual sales exceeding $1,000,000, making this an outstanding opportunity for an owner-user seeking an established, turnkey operation. Cap rate at $10,000 NNN is 6.82 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. 2,776 SF building with an additional 800 SF covered patio Built in 1982 Renovated in 2022 Zoned CP Located on Ortega Hwy just as you come into Lake Elsinor. Cap Rate is based on Market rent of $10,000 a month NNN Ringside Bar and Grill to be sold concurrently at $425,000 Includes a Type 48 liquor license Seats 99 persons 10 beer taps, and 3 wells behind the bar Touchtunes jukebox Multuple Samsung Smart TVs Sound system with DJ set up Flat top grill Two fryers Pizza Oven
Property Information
Property Type
Commercial Sale
Sub-Type
Retail
Year Built
1982
Stories
1
Living Area
2,776 sq ft
Lot Size
0.33 acres
Days on Market
18
MLS® Listing#
DW26140807
Property Features
Cooling
Heating
Laundry
Lot Features
Roof
Security
Water Source
Financial Details
Parcel Number
379191029
Directions
Corner of Joy St and Riverside Dr
Affordability Calculator
$351,800
Estimated monthly payment
$9,362/mo
Principal $1,407,200 · Est. interest $1,963,169 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lake Elsinore, CA
- $661,787
- Median Listing Price
- 69
- Median Days on Market
- 1,841
- Median Sq Ft
- $387
- Median Price / Sq Ft
- 1,817
- Active Listings
- This home’s price is 166% above the area median.
- Its price per sq ft is 64% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lake Elsinore, CA.
Location
Points of Interest in Lake Elsinore, CA
Showing the Lake Elsinore area map.
Nearby Schools
Machado Elementary School
Elementary · 0.5 mi away
River Springs Charter School
School · 0.9 mi away
Lakeside High School
Secondary · 1.0 mi away
Little Farm Preschool
School · 1.4 mi away
Withrow Elementary
Elementary · 1.4 mi away
Elsinore Naval & Military School
School · 1.6 mi away
Terra Cotta Middle School
Secondary · 1.6 mi away
Elsinore Middle School
Secondary · 1.8 mi away
Valley Adult School
School · 1.9 mi away
Ortega High School
Secondary · 1.9 mi away
Lake Elsinore Unified School District
Elementary · 2.0 mi away
Butterfield Elementary School
Elementary · 2.0 mi away
Temescal Canyon High School
Secondary · 2.1 mi away
TCHS
Secondary · 2.1 mi away
Keith McCarthy Academy
School · 2.1 mi away
Rice Canyon Elementary School
Elementary · 2.2 mi away
Elsinore Elementary
Elementary · 2.2 mi away
Mountainside Academy
School · 2.3 mi away
River Christian School
School · 2.6 mi away
Earl Warren Elementary School
Elementary · 3.2 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 30010 Big Range Road, Canyon Lake, CA | $1,248,000 | 4 | 3 | 2,956 |
| 24900 El Toro Road, Lake Elsinore, CA | $1,249,000 | — | — | — |
| 24451 Peacock St., Lake Forest, CA | $1,249,000 | 3 | 2 | 1,723 |
| 26515 Kari Brook, Lake Forest, CA | $1,249,000 | 4 | 2 | 1,662 |
| 752 Cove Drive, Big Bear Lake, CA | $1,249,900 | 4 | 3 | 2,350 |
| 653 Brentwood Drive, Lake Arrowhead, CA | $1,250,000 | 3 | 3 | 2,738 |
Moving Cost Estimate
EXIT Agents in Lake Elsinore
Listing Courtesy: Century 21 Masters - 562-419-4942
Presented by: Edwin Huber and Leticia Vega
Licensed in the state of California.