Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    68686 Summit Drive, Cathedral City, CA 92234
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    68686 Summit Drive
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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
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      A 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.
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    Features
    Accountingtype
    1. Actual
    Assetclass
    1. Industrial
    Building Area Total
    1. 6214.00
    Building Expenses
    1. 0.00
    Commoninterest
    1. None
    Country
    1. US
    Current Financing
    1. Conventional
    Current Use
    1. Industrial
    Current Use Comments
    1. Auto Body Shop
    Electric Expense
    1. 0.00
    Fencing
    1. Chain Link
    Industrialtype
    1. Manufacturing
    2. Warehouse/Distribution
    3. Warehouse/Office
    Land Use
    1. Industrial
    2. Other
    Laundry Features
    1. None
    Netoperatingincome
    1. 90000.00
    Parcel Number
    1. 687161006
    Postalcodeplus4
    1. 7342
    Property Type
    1. Industrial
    Security Features
    1. Automatic Gate
    Totalexpenses
    1. 0.00
    Totalmonthlyrent
    1. 7500
    Trash Expense
    1. 0.00
    Utilities
    1. Electricity Connected
    2. Natural Gas Connected
    3. Sewer Connected
    4. Water Connected
    Water Sewer Expense
    1. 0.00
    Water Source
    1. Public
    Year Built
    1. 1978
    Year Built Source
    1. Assessor
    Zoning
    1. IP - GREEN ZONE
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836