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68686 Summit Drive

Cathedral City, CA 92234
  • $1,600,000
  • STATUS: Active
  • ON SITE: 497 Days
  • ID#: SB23118101
UPDATED: 36 min ago
$1,600,000
  • 0
    BEDS
  • 0.4
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1978
County:

School Ratings & Info

Listing Agent(s): Sarkis Ter-Minasyan of Craft & Bauer Real Estate Co. (424-200-6282) and Lilit Ghalumian of Craft & Bauer Real Estate Co.(424-200-6282)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-12T19:28:21.26. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/141143906
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68686 Summit Drive Cathedral City, CA 92234

  • Price: $1,600,000
  • Status: Active
  • On Site: 497 Days
  • Updated: 36 min ago
  • ID#: SB23118101
0
Beds
0
Baths
0
½ Baths
0.4
Acres
1978
Built
Neighborhood:
336 - Cathedral City South
County:
Riverside
Area:
336 - Cathedral City South
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.
Exterior Features

Entry Level 1 Fencing Chain Link Sign On Property YN Yes

Property Features

Additional Parcels YN No Business Type Auto BodyAuto ServiceCommercialDistributionIndustrialManufacturingOtherStorageWarehouseWholesale Cap Rate 5.63 Common Interest None Current Financing Conventional Electric Expense 0 Gross Scheduled Income 90000 Land Lease YN No Laundry Features None Lease Considered YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan1031 Exchange Net Operating Income 90000 Operating Expense 0 Property Sub Type Industrial Security Features Security Gate Special Listing Conditions Standard Trash Expense 0 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 0 Water Source Public Zoning IP - GREEN ZONE



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-12T19:28:21.26. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
10300 Fourth St. Ste 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Sarkis Ter-Minasyan of Craft & Bauer Real Estate Co. (424-200-6282) and Lilit Ghalumian of Craft & Bauer Real Estate Co.(424-200-6282)