Active

68686 Summit Drive

Cathedral City CA, 92234

$1,600,000


$257.48 per sqft

Active

6,214 sqft

Commercial

Built in 1978

Listed by Sarkis Ter-Minasyan with Craft & Bauer Real Estate Co. 424-200-6282

A remarkable opportunity awaits in the bustling Cathedral City GREEN ZONE--an established Opportunity Zone--with this 6,214 sq. ft. industrial asset set on a 17,424 sq. ft. lot. Occupied by a solid Auto Body Shop under a 5-year NNN lease, this investment assures an unburdened cash flow, with the tenant responsible for all property expenses including taxes, insurance, and maintenance.

The lease comes with a 5% + CPI annual increase clause, promising a rising income stream that maximizes your investment year over year. The NNN structure of the lease underscores a hassle-free investment, allowing you to enjoy the full benefits of the property's earnings without the need for hands-on management.

Nestled in a pro-cannabis city, the property offers versatile use, whether you choose to continue with the existing auto body shop or explore opportunities in the evolving cannabis sector. Its prime location in an Opportunity Zone not only fosters operational growth but also amplifies fiscal gains through potential tax benefits.

With a commitment to providing financial clarity and transparency, the comprehensive rent roll will be disclosed to interested buyers, outlining the structured progression of returns. This property is a testament to enduring value and potential in the heart of Cathedral City's industrial district.

Seize this exclusive chance to integrate a truly turnkey asset into your investment portfolio. Discover the intersection of secure tenancy, financial growth, and strategic location with this industrial offering in Cathedral City.

SB23118101

MLS ID

July 3, 2023

Listed

May 25, 2024

Updated

Map

68686 Summit Drive
Cathedral City CA, 92234

Interior Features

Total Stories

1


Laundry Description

None


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.4 Acres

Other Property Details

Area Name

336 - Cathedral City South


Days on Market

255


Garage

No


View

No


County

Riverside


Water Source

Public


Pool

No


Zoning

IP - GREEN ZONE


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

1/22/2024

Price Change

$1,600,000

-9%

Listing Contact: 424-200-6282 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:31 AM UTC

 

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