Skip To Content

32475 Date Palm Drive

Cathedral City, CA 92234
  • $2,450,000
  • STATUS: Active
  • ON SITE: 40 Days
  • MLS #: 219079042
UPDATED: 142 min ago
$2,450,000
  • 0
    BEDS
  • 0.43
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1991
County:

School Ratings & Info

Description

If you are looking for a lucrative commercial investment that has an ideal location,100% rental occupancy, with no rental loses in the last 24 months, has a cap rate of 6.8%, with minimal operating expenses. This property is a well-maintained building that has been remodeled and upgraded extensively for the operating Cannabis Testing Lab Rental. Your ideal commercial real estate investment is located in a established commercial/retail market of Cathedral City, Ca. This property boasts 6,250 SF of building space and is currently designed for two retail/office business spaces. The suites are approx. 1185 SF ( bottom Floor right side) and 5065 SF ( Entire top floor and the reminder of the bottom floor, left side) which include the common area spaces. The building has approx. 20 parking spaces and is in compliance with ADA codes, with regard to parking space, back and front entrance accessibility, a recently built ADA ramp, and remodeled ADA bathrooms for both rental spaces. The property sits on 18,730 SF. lot. Currently, one tenant operates a Hair Salon and the other, state of the art Cannabis Testing Lab. Both tenants' leases expire in 2024 and 2025 (respectively). The tenant for the Cannabis lab has a 5-year option to continue with the lease, and the hair salon would like to stay longer. Both Tennant is responsible for repairs and maintenance of their leased spaces and the cannabis testing lab maintains outside landscaping. Owners have recently upgraded the electrical

Monthly Payment Calculator

©2022 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Lisa Angell | Keller Williams La Quinta. Based on information from the California Desert Association of Realtors as of 2022-06-28T23:35:51.18. 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 of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

Licensed in the State of California, USA
www.angellrealestate.com/homes/128921963
Print Image

32475 Date Palm Drive Cathedral City, CA 92234

  • Price: $2,450,000
  • Status: Active
  • On Site: 40 Days
  • Updated: 142 min ago
  • MLS #: 219079042
0
Beds
0
Baths
0
½ Baths
0.43
Acres
1991
Built
Neighborhood:
336 - Cathedral City South
County:
Riverside
Area:
336 - Cathedral City South
Property Description
If you are looking for a lucrative commercial investment that has an ideal location,100% rental occupancy, with no rental loses in the last 24 months, has a cap rate of 6.8%, with minimal operating expenses. This property is a well-maintained building that has been remodeled and upgraded extensively for the operating Cannabis Testing Lab Rental. Your ideal commercial real estate investment is located in a established commercial/retail market of Cathedral City, Ca. This property boasts 6,250 SF of building space and is currently designed for two retail/office business spaces. The suites are approx. 1185 SF ( bottom Floor right side) and 5065 SF ( Entire top floor and the reminder of the bottom floor, left side) which include the common area spaces. The building has approx. 20 parking spaces and is in compliance with ADA codes, with regard to parking space, back and front entrance accessibility, a recently built ADA ramp, and remodeled ADA bathrooms for both rental spaces. The property sits on 18,730 SF. lot. Currently, one tenant operates a Hair Salon and the other, state of the art Cannabis Testing Lab. Both tenants' leases expire in 2024 and 2025 (respectively). The tenant for the Cannabis lab has a 5-year option to continue with the lease, and the hair salon would like to stay longer. Both Tennant is responsible for repairs and maintenance of their leased spaces and the cannabis testing lab maintains outside landscaping. Owners have recently upgraded the electrical
Exterior Features

Entry Floor Number 1 Total Parking Spaces 0.00

Property Features

Building Status Existing Cross Streets Corral Rd Property Sub Type Retail Sale Type Standard

Listing information © 2022 California Desert Association of Realtors.
Listing provided courtesy of Alex Jay of Re/Max Desert Properties.
©2022 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Lisa Angell | Keller Williams La Quinta. Based on information from the California Desert Association of Realtors as of 2022-06-28T23:35:51.18. 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 of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

Licensed in the State of California, USA
 
https://bt-photos.global.ssl.fastly.net/damls/1280_boomver_1_219079042-2.jpg https://bt-photos.global.ssl.fastly.net/damls/1280_boomver_1_219079042-2.jpg https://bt-photos.global.ssl.fastly.net/damls/1280_boomver_1_219079042-2.jpg
Logo
Lisa Angell | Keller Williams La Quinta
47100 Washington St. #101
La Quinta CA, 92253