68686 Summit Drive, Cathedral City

Active Fee Land

$1,600,000

Previous Next

0.40

Acres

Listing Agent
Sarkis Ter-minasyan - Craft & Bauer Real Estate Co.

About 68686 Summit Drive

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.

68686 Summit Drive is a Commercial Sale property for sale. This Commercial Sale property is on Fee land and the current price is $1,600,000. This property has 0 bedrooms and 0.00 bathrooms and it was built in 1978. 336 - Cathedral City South property has been listed on www.geoffreymoore.com for 284 days.

Features of 68686 Summit Drive

MLS® # SB23118101
Price $1,600,000
Bathrooms 0.00
Acres 0.40
Year Built 1978
Type Commercial Sale
Sub-Type Industrial
Status Active

Community Information

Address 68686 Summit Drive
Area 336 - Cathedral City South
City Cathedral City
County Riverside
Zip Code 92234

Amenities

Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Is Waterfront No
Has Pool No

Interior

Has Basement No
Fireplace No
# of Stories 1

Additional Information

Date Listed June 27th, 2023
Days on Market 284
Zoning IP - GREEN ZONE
Foreclosure No
Short Sale No
RE / Bank Owned No
Land Type Fee

Listing Details

AgentSarkis Ter-minasyan
OfficeCraft & Bauer Real Estate Co.

Listing Map

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