Beloved Palm Springs Restaurant Billy Reed’s Hits the Market After 50 Years

A Coachella Valley favorite with a fiercely loyal fan base is officially for sale. Billy Reed’s, the iconic 50-year-old restaurant located at 1800 North Palm Canyon Drive in Palm Springs, has been listed with a price of $7.5 million as the owner prepares for retirement.

The listing describes Billy Reed’s as one of the most respected restaurant brands in the region, operating a highly profitable business with annual sales exceeding $7 million. The offering includes not just the business, but the real estate, the team, and even the restaurant’s fully documented recipes.

The property spans approximately 13,102 square feet on nearly two acres directly across from the 400-room Riviera Hotel. Known for serving breakfast, lunch, and dinner daily, Billy Reed’s has remained a go-to spot for locals, visitors, and generations of loyal customers. Its scratch kitchen and in-house bakery have earned praise for decades, especially for its signature pies, cakes, and desserts.

The sale is being marketed as a major opportunity for investors, with several value-add options already on the table. These include extended hours, activating a currently unused entertainment room, expanding the bar program, adding bakery retail, hosting weddings and special events, franchising potential, or converting a private room into a speakeasy-style venue.

The turnkey operation includes 63 employees, four managers, a fully outfitted kitchen and baking facility, a two-car private garage, and a private dining space. Seller financing options are also available.

With Palm Springs experiencing continued tourism growth and major local investments—such as airport expansions, the reopening of the Historic Plaza Theatre, and the nearby Disney Cotino community—this listing arrives at a moment of strong momentum for the city.

The LoopNet listing notes that the sale represents a once-in-a-generation chance to take over a thriving, well-loved institution in a premier Palm Springs location.

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