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18,190 SF - 2 Industrial Buildings Fully Leased 5% Cap Rate

36737 Cathedral Canyon Dr
36737 Cathedral Canyon Dr, Cathedral City, CA

Features

  • Building 1 – approved CUP – 18-022 for 14,921 SF Cannabis cultivation, manufacturing, and distribution facility, expires 12/19/21
  • Includes tenant improvement plans + grading plans
  • Building 2 – 3,586 SF Commercial building currently leased to Trunks Bar
  • Zoned for Cannabis – cultivation, manufacturing, and distribution
  • 11-Tenant, below market rents – $19,301 monthly rental income on month-to-month basis
  • Provisional license, plans and CUP included in sale of property
  • 5% Cap rate

Asking Price: $3,195,000 ($175/SF)

Vicinity Map

36737 Cathedral Canyon Dr, Cathedral City, CA
CC 36737 Cathedral Canyon Dr

CUP 18-022 Site Plan

CC 36737 Cathedral Canyon Dr

Assessor's Parcel Map

Assessor's Parcel Map of 36737 Cathedral Canyon Dr, Cathedral City, CA
Site Plan of 36737 Cathedral Canyon Dr, Cathedral City, CA

Amenities

  • Building Size:
    • Building 1: 14,690 SF
    • Building 2: 3,500 SF
    • Total: 18,190 SF
  • Parcel Size: 1.12AC
  • APN: 687-081-006
  • Ceiling Height: 13’8” on Building 1
  • Utilities: All utilities to site
  • Opportunity Zone: Yes
  • Fire Sprinklers: No
  • Year Built: 1975
  • Highest and Best Use: Leased Investment, Cannabis
    Cultivation
  • Terms: Cash, 1st $1,925,000 @5.75% due Feb. 2023
  • Location: Property is located at the NWC of Cathedral
    Canyon Dr., and Commercial Rd. in Cathedral City, CA.
  • Directions: From I-10 traveling east, exit on Date Palm Drive. Travel approximately 3.2 miles, turn right (west) on Dinah Shore Drive. Drive .5 miles and turn left (south) onto Cathedral Canyon Drive. Property will be on the right at the intersection of Commercial Road.

Schedule of Gross Income

Estimated Annual Gross Rental Income …. $231,612*
Operating Expenses
Taxes ($3.1M assessed value) ……………… $43,400
Insurance ……………………………………………………… $12,875
Utilities ………………………………………………………….. $14,672
Maintenance ……………………………………………….. $2,000
Total Expenses ………………………………………….. $72,947
Net Operating Income ………………………… $158,665
CAP Rate ………………………………………………………………………… 5%
*Lease terms range from monthly to December 2022.
Call for rent schedule 760-360-8200

WHAT IS AN 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.

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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: JC 05/27/21 # 2272C

Contact
Paula Turner profile photo

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