Cathedral City, CA 92234,68686 Summit Drive
Cathedral City, CA 92234,68686 Summit Drive
Cathedral City, CA 92234,68686 Summit Drive
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Alessandra Imanabadi

Alessandra Imanabadi

Nationwide Fine Homes

+1(510) 504-2528
Listed by Sarkis Ter-Minasyan • Craft & Bauer Real Estate Co.
$1,600,000
Est. payment /mo
6,214 SqFt
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UPDATED:

07/03/2024 08:06 PM

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

Originating Board Datashare California Regional

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 Cathe

Location

State CA

County Riverside

Interior

Fireplace No

Exterior

Parking Type Electric Gate

Building

Water Public


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