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Nicolas Romo
Direct Office:
800-659-4610
sellingcasas@gmail.com

DRE# 01787685
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Nicolas Romo
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Direct Office:
800-659-4610
sellingcasas@
gmail.com

DRE# 01787685
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68686 Summit Drive,  Cathedral City CA, 92234

(Active)
$1,600,000
|
6,214 sqft
|
MLS# SB23118101
Last Updated: 5/17/2024 10:38 PM
Description for 68686 Summit Drive Cathedral City, CA 92234
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.
Price
$1,600,000
Riverside
6,214 (approx)
SB23118101
Active
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.
Listing Information
Property Type: Industrial, Business Opportunities, 1 Story
0.4 Acres Assessor 6,214 (approx)
1978 1
Public
Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
2 Total
Neighborhood
Room Information
None
Interior Features
Security Gate
Exterior / Lot Features
0 Covered Parking Spaces,
IP - GREEN ZONE
Chain Link
Community Features
Security Gate
Driving Directions
Take I-10 East toward San Bernardino. Exit onto Date Palm Dr. Turn right onto Date Palm Dr. Turn right onto Perez Rd. Turn right onto Summit Dr.
Financial Considerations
687161006
Cash,Cash to New Loan,1031 Exchange
Listing Price History

Cathedral City Real Estate

Cathedral City is located in California. Cathedral City, California 92234 has a population of 54,504.

The median household income in Cathedral City, California 92234 is $49,564. The median household income for the surrounding county is $70,543 compared to the national median of $66,222. The median age of people living in Cathedral City 92234 is 36 years.

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Listing Agent: Sarkis Ter-Minasyan CalDRE: 02062179 - Craft & Bauer Real Estate Co., 818-572-9557
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The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 5/17/2024 10:38 PM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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