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68686 Summit Drive, Cathedral City, CA 92234
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$1,600,000
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Property Details for 68686 Summit Drive
Price
$1,600,000
Type
commercial/industrial
Year Build
1978
Sq. Ft.
6214
County
Riverside
MLS®️ Listing#
SB23118101
On exitrealty.com
527 days
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.
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- Utilities
- Electricity Connected
- Natural Gas Connected
- Sewer Connected
- Water Connected
- Water Features
- Public
Listing courtesy: Craft & Bauer Real Estate Co.. Presented by: Sarkis Ter-Minasyan
Based on information from CARETS as of 2024-12-06 22:09:46. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX data provided by Mobile Real Estate, LLC
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX data provided by Mobile Real Estate, LLC
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Market statistics compiled from data from California Regional MLS.
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EXIT ALLIANCE REALTY
43521 Ridge Park Suite 201, Temecula, CA 92590
Licensed in the state of California.
CA DRE# 01924483. Shawn Sorensen broker.
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$1,600,000
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EXIT ALLIANCE REALTY
43521 Ridge Park Suite 201, Temecula, CA 92590
Licensed in the state of California.
CA DRE# 01924483. Shawn Sorensen broker.