Retail Building | 32475 Date Palm Dr
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Retail Building 32475 Date Palm Dr
6,560 SF 100% Leased Retail Building Cathedral City, CA 92234 £1,495,155 (£228/SF) 6.56% Net Initial Yield
Investment Highlights
- Robust Cap Rate of 9%
- Owner User Opportunity
- Great for 1031 Exchange
Executive Summary
Marketing Remarks:
Showing by appointment only.
This commercial income investment offers a robust Cap Rate of 7% 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 7% 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.
Data Room Click Here to Access
- Operating and Financials
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,560 SF
Building Class
B
Year Built
1990
Price
£1,495,155
Price Per SF
£228
Net Initial Yield
6.56%
NOI
£98,088
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.35
Land Acres
0.43 AC
Opportunity Zone
Yes
Zoning
Commercial - Planned Community Commercial (PCC). A variety of retail and office uses.
Parking
20 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Monument Signage
Walk Score ®
Very Walkable (73)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 680-292-027 | Improvements Assessment | £613,837 |
| Land Assessment | £194,144 | Total Assessment | £807,982 |
PROPERTY TAXES
Parcel Number
680-292-027
Land Assessment
£194,144
Improvements Assessment
£613,837
Total Assessment
£807,982
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Darrell Phillips -
The Phillips Real Estate Group
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Retail Building | 32475 Date Palm Dr
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