Cathedral City, CA 92234,68686 Summit DR
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Cathedral City, CA 92234,68686 Summit DR
Cathedral City, CA 92234,68686 Summit DR
Cathedral City, CA 92234,68686 Summit DR
Cathedral City, CA 92234,68686 Summit DR
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$ 1,600,000
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68686 Summit DR Cathedral City, CA 92234

0.4 Acres Lot


UPDATED:

09/30/2024 06:42 PM

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

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.

Location

State CA

County Riverside

Area 336 - Cathedral City South

Zoning IP - GREEN ZONE

Interior

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


California Regional MLS (CRMLS)
Listed by Sarkis Ter-Minasyan • Craft & Bauer Real Estate Co. • 818-572-9557

Sylvia Lange

Agent | License ID: 02022390

+1(619) 226-6622

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68686 Summit DR