$ 1,600,000
68686 Summit Drive Cathedral City, CA 92234
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$ 1,600,000
Est. payment | /mo
6,214 SqFt
$ 1,600,000
Est. payment | /mo
6,214 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 6,214 sqft
Price per Sqft $257
MLS Listing ID CRSB23118101
HOA Y/N No
Year Built 1978
Lot Size 0.400 Acres
Acres 0.4
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 Cathe
Location
State CA
County Riverside
Area Listing
Zoning IP -
Interior
Fireplace No
Exterior
Utilities Available Electricity Connected, Natural Gas Connected
Parking Type Electric Gate
Building
New Construction No
Others
Tax ID 687161006
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Sarkis Ter-Minasyan • Craft & Bauer Real Estate Co.
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