Listed by Alex Jay, RE/MAX Desert Properties,

32475 Date Palm Drive

Cathedral City, CA, 92234

$2,280,000

$2,280,000
Active
Active
 - For Sale
property_type
Commercial
calendar
Built 1991
This Commercial INCOME investment has a CAP RATE of 7.3%, with minimal operating expenses, 100% rental occupancy, with no rental loses in the last 24 months. The building boast 6,250 Sf. It sits on a 18,730 Sf lot, has approx. 20 parking spaces and is in compliance with ADA codes. The suites are approx. 1185 SF and 5065 SF, which include the common area spaces. Currently two tenants: one tenant operates a Hair Salon and the other operates Cannabis Testing Lab. Tenants' leases expire in 2025 & 2024 w/ 5- year option only Lab. Net Operating Income is projected to increase based on the rental yearly increases. The building is a well-maintained building that has been remodeled extensively for the operating Cannabis Testing Lab Rental (upgraded the electrical panels, plumbing, walls, and ceiling, installed two new air conditioners, and maintained the Roof.) Additionally, Tenants are responsible for repairs and maintenance. The building offers 5 baths, break rooms, storage areas, newly built-in trash containers, landscaped areas. This property is located on Date Palm Dr, at the heart of Cathedral City, and adjacent to Ramon road, which is a major roadway of the Coachella Valley. It has an ideal location, Some commercial area near by are Starbucks, Apple Bees, Auto Zone, El Pollo Loco, and others. Also near Palms Spring International Airport and I-10 fee way.
MLS® ID:
219079042DA
Updated:
9/25/22

Exterior/Building Features

Lot Size
0.43 acres lot

Other Property Details

Area Name
336 - Cathedral City South
Garage
No
Parking
N
View
N
County
Riverside
Pool
No
Total Stories
2
Zoning
1OGB82Z9LI3J

Property History

Date
Event
Price
Value
8/31/22
Price Change
$2,280,000
-6%

 

Listed by Alex Jay, RE/MAX Desert Properties,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/25/22. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 4:26 AM UTC, 9/25/22

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