$1,600,000
68686 Summit DR Cathedral City, CA 92234
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$1,600,000
Est. payment /mo
6,214 SqFt
UPDATED:
09/30/2024 06:42 PM
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 6,214 sqft
Price per Sqft $257
MLS Listing ID SB23118101
HOA Y/N No
Year Built 1978
Lot Size 0.400 Acres
Property Description
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.
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.
Location
State CA
County Riverside
Area 336 - Cathedral City South
Zoning IP - GREEN ZONE
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Fence Chain Link
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Present Use Industrial
Building
Story 1
Water Public
Others
Tax ID 687161006
Security Features Security Gate
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Sarkis Ter-Minasyan • Craft & Bauer Real Estate Co. • 818-572-9557
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