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8,054 SF CANNABIS INDUSTRIAL BUILDING
NNN SINGLE TENANT LEASE

CC - 36450 Bankside Dr Building Photo Web
36450 BANKSIDE DR, CATHEDRAL CITY, CA

FEATURES

  • 8,054 SF State of the art manufacturing extraction facility
  • 12% Cap Rate $30,202 month ($3.75 per S/F NNN)
  • Single Tenant Lease expires 04/20/23 with (2) 5-year options to extend
  • Licensed Cannabis Facility – approved CUP 16-044 – allows distribution, manufacturing, and dispensary
  • Located in the heart of the Cathedral City adjacent to many other cannabis facilities on Bankside Drive
  • Seller financing available

ASKING PRICE: $3,000,000 ($373/SF)

VICINITY MAP

CC - 36450 Bankside Dr Floor Plan Web

Amenities

  • Building Size: 8,054 SF
    581 SF Distribution, 1,541 SF Dispensary & Office, 4,283 SF Manufacturing
  • Parcel Size: .48 AC (95’ x 218’)
  • Land Use Zoning: I-L (Light Industrial)
  • APN: 687-312-016
  • Year Built: 1986, Upgraded & Remodeled 2018
  • Ceiling Height: 14 ft
  • Parking: 16 Parking Spaces
  • Sprinkler: Yes
  • Construction: Concrete
  • Opportunity Zone: Yes
  • Terms: Cash, Owner Will Carry @ 50% down 3 years – 1st year 8%, 2nd + 3rd year 10%

Lease Overview

  • Tenant: We Care Cat City Inc
  • NOI: $362,430
  • Original Lease: 5 Years
  • Commencement Date: May 1, 2018
  • Lease Expiration: April 30, 2023
  • Options (2) 5 year options, 1st option no rent increase, 2nd option cpi increase not to exceed 15%

Gallery

OPPORTUNITY ZONE

Why is investing in an Opportunity Zone better than a 1031 Exchange?

Temporary Deferral:
Similar to a 1031 Exchange.

Step-up in Basis: After 5 years capital gains basis is increased by 10% and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation. Permanent Exclusion: After 10 years the capital gains are permanently excluded from taxable income

Permanent Exclusion: After 10 years the capital gains are permanently excluded from taxable income.

For More Information click the button below.

Attatchments
Disclaimer

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warrant or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions assumptions or estimates used are for example only, and do not represent the current or future performance of the property. ref: 10/13/21 JC

Contact
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Paula Turner, Broker
paula@dppllc.com
Mobile 760-578-6564
Office 760-360-8200
DRE License #00702492

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Ranked #1 in the Coachella Valley for Commercial Real Estate

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Rebecca Ramirez, Sales Agent
rebecca@dppllc.com
Mobile 760-333-7170
Office 760-360-8200
DRE License #02050799