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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.PROPERTY FEATURES
Water Source: Public
Security Features: Automatic Gate
Lot Features: Lot 10000-19999 Sqft
Fencing: Chain Link
Land Use: Industrial,Other
Current Use: Industrial
Number Of Buildings: 2
Investment Property
Industrial Type: Manufacturing,Warehouse/Distribution,Warehouse/Office
Business Type: Auto Body,Auto Service,Commercial,Distribution,Industrial,Manufacturing,Other,Storage,Warehouse,Wholesale
Parcel Identification Number: 687161006
Occupancy: Occupied
Year Built Source: Assessor
Laundry Features: None
Laundry: Has Laundry
Zoning: IP - GREEN ZONE
MLSAreaMajor: 336 - Cathedral City South
Accounting Type: Actual
PROPERTY DETAILS
Street Address: 68686 Summit Drive
City: Cathedral City
State: California
Postal Code: 92234
County: Riverside
MLS Number: SB23118101
Year Built: 1978
Courtesy of Craft & Bauer Real Estate Co.
City: Cathedral City
State: California
Postal Code: 92234
County: Riverside
MLS Number: SB23118101
Year Built: 1978
Courtesy of Craft & Bauer Real Estate Co.
Courtesy of Burton Commercial, Inc.