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Listed by Sarkis Ter-Minasyan • Craft & Bauer Real Estate Co.
$1,600,000
Est. payment /mo
Active
68686 Summit Drive Cathedral City, CA 92234
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UPDATED:
09/03/2024 05:46 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB-23118101
Year Built 1978
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
Zoning IP - GREEN ZONE
Interior
Laundry None
Exterior
Utilities Available Sewer Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description Lot 10000-19999 Sqft
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