68686 Summit Drive, Cathedral City, CA 92234
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- MLS#: SB23118101 ( Industrial )
- Street Address: 68686 Summit Drive
- Viewed: 6
- Price: $1,600,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1978
- Bldg sqft: 0
- Days On Market: 543
- Additional Information
- County: RIVERSIDE
- City: Cathedral City
- Zipcode: 92234
- Provided by: Craft & Bauer Real Estate Co.
- Contact: Sarkis Sarkis
- DMCA Notice
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DescriptionA remarkable opportunity awaits in the bustling Cathedral City GREEN ZONEan established Opportunity Zonewith 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.
Property Location and Similar Properties
Features
Accountingtype
- Actual
Assetclass
- Industrial
Building Area Total
- 6214.00
Building Expenses
- 0.00
Commoninterest
- None
Country
- US
Current Financing
- Conventional
Current Use
- Industrial
Current Use Comments
- Auto Body Shop
Electric Expense
- 0.00
Fencing
- Chain Link
Industrialtype
- Manufacturing
- Warehouse/Distribution
- Warehouse/Office
Land Use
- Industrial
- Other
Laundry Features
- None
Netoperatingincome
- 90000.00
Parcel Number
- 687161006
Postalcodeplus4
- 7342
Property Type
- Industrial
Security Features
- Automatic Gate
Totalexpenses
- 0.00
Totalmonthlyrent
- 7500
Trash Expense
- 0.00
Utilities
- Electricity Connected
- Natural Gas Connected
- Sewer Connected
- Water Connected
Water Sewer Expense
- 0.00
Water Source
- Public
Year Built
- 1978
Year Built Source
- Assessor
Zoning
- IP - GREEN ZONE