Cathedral City, CA 92234 68686 Summit Drive
$1,600,000
29 more
Presented By: Sarkis Ter-Minasyan with Craft & Bauer Real Estate Co.; 818-572-9557
Home Details
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.
Presented By: Sarkis Ter-Minasyan with Craft & Bauer Real Estate Co.; 818-572-9557
Interior Features for 68686 Summit Drive
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixDrive
Total Stories1
Other Rooms
Entry Level1
General for 68686 Summit Drive
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Business TypeAutoBody, AutoService, Commercial, Distribution, Industrial, Manufacturing, Other, Storage, Warehouse, Wholesale
Cap Rate5.63
Carport Y/NNo
CityCathedral City
CountyRiverside
Current FinancingConventional
Days on Market255
DirectionsTake I-10 East toward San Bernardino. Exit onto Date Palm Dr. Turn right onto Date Palm Dr. Turn right onto Perez Rd. Turn right onto Summit Dr.
Electric Expense0.0
Garage Y/NNo
HOA / Comm AssnNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet17424.0
MLS Area336 - Cathedral City South
MobileHomeRemainsYNNo
Net Operating Income90000.0
New ConstructionNo
Occupancy TypeTenant
Operating Expense0.0
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalIndustrial
Property SubTypeIndustrial
Property TypeCommercialSale
Rent Control Y/NNo
Security FeaturesSecurityGate
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameSummit
Trash Expense0.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1978
Year Built SourceAssessor
ZoningIP - GREEN ZONE
Exterior for 68686 Summit Drive
Building Area Total6214.0
Crops Included Y/NNo
FencingChainLink
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.4
Lot Size Area17424.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Open Parking Y/NNo
SpaNo
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480