32475 Date Palm Dr, Cathedral City, CA 92234
6,560 SF | 100% Leased | Retail Building | Cathedral City, CA 92234 | $1,895,000 ($289/SF) | 8.44% Cap Rate
For Sale
Active
Asking Price $1,895,000
- Property Type
-
Retail
- Square Feet
- 6,560 SF
- Price / Square Foot
- $289
Listing Contacts
Darrell Phillips
Property Overview
Marketing Remarks:
Showing by appointment only.
This commercial income investment offers a robust Cap Rate of 8.21% with minimal operating expenses and has maintained 100% rental occupancy over the past 24 months. Great opportunity for a 1031 exchange.
The property features a 6,250 SF building situated on an 18,730 SF lot, providing approximately 20 parking spaces. Building is in full compliance with ADA codes.
The building comprises two suites of approximately 1,185 SF and 5,065 SF, including common areas. It currently houses two tenants: a Barber/Hair Salon and a Cannabis Testing Lab.
This well-maintained building has undergone extensive remodeling inside and out to accommodate the cannabis testing lab. The Lab owner has spent over $500,000 on exterior and interior improvements Including new flooring, upgraded electrical panel, wiring, and lighting throughout, with new plumbing, new A/C units and duct work, and a new roof. Tenants are responsible for their own repairs and maintenance.
The property includes five bathrooms, break rooms, storage areas, newly built-in trash containers, and landscaped areas. It is ideally located on Date Palm Drive in the heart of Cathedral City, adjacent to Ramon Road, a major artery in the Coachella Valley. The location is surrounded by commercial amenities such as Starbucks, Applebee's, AutoZone, El Pollo Loco, and is near Palm Springs International Airport and the I-10 freeway.
Showing by appointment only.
This commercial income investment offers a robust Cap Rate of 8.21% with minimal operating expenses and has maintained 100% rental occupancy over the past 24 months. Great opportunity for a 1031 exchange.
The property features a 6,250 SF building situated on an 18,730 SF lot, providing approximately 20 parking spaces. Building is in full compliance with ADA codes.
The building comprises two suites of approximately 1,185 SF and 5,065 SF, including common areas. It currently houses two tenants: a Barber/Hair Salon and a Cannabis Testing Lab.
This well-maintained building has undergone extensive remodeling inside and out to accommodate the cannabis testing lab. The Lab owner has spent over $500,000 on exterior and interior improvements Including new flooring, upgraded electrical panel, wiring, and lighting throughout, with new plumbing, new A/C units and duct work, and a new roof. Tenants are responsible for their own repairs and maintenance.
The property includes five bathrooms, break rooms, storage areas, newly built-in trash containers, and landscaped areas. It is ideally located on Date Palm Drive in the heart of Cathedral City, adjacent to Ramon Road, a major artery in the Coachella Valley. The location is surrounded by commercial amenities such as Starbucks, Applebee's, AutoZone, El Pollo Loco, and is near Palm Springs International Airport and the I-10 freeway.
Property Details
- Class
- B
- Year Built
- 1990
- Stories
- 2
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 18,731 SF
Highlights
- Robust Cap Rate of 8.21%
- Great for 1031 Exchange
- Owner User Opportunity
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