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

Industrial for Sale
Catylist Listing ID: 30710654
Property Subtypes: Manufacturing, Light Industrial
Building Size (RSF): 18,190 SF
Gross Building Area: See Agent
Gross Land Area: 1.12 Acres
Sale Price: $3,195,000
Unit Price: $175.65 PSF
Ceiling: 13.8 ft. Clear
Docks/Doors: 2 Doors
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Last Updated: 3/31/2021

Overview / Comments

■ Zoned for Cannabis - cultivation, manufacturing, and distribution
■ Great Investment Opportunity
■ Approved CUP - 18-022 for 14,921 SF Cannabis cultivation, manufacturing, and distribution facility, expired 12/20 (pending renewal)
■ Includes 3,586 SF Commercial building currently leased to Trunks bar
■ 11-Tenant, below market rates - $19,351 monthly rental income
■ Provisional license and CUP included in sale of property
■ 5% Cap rate

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Taxing Authority: Cathedral City
Tax ID/APN: 687-081-006
Zoning: I-L
Property Located Between: Cathedral Canyon Dr & Commercial Rd
Highway Access: Highway 111
Site Description: Cannabis facility in the heart of Coachella Valley. This 11-tenant facility offers all possibilities. Property’s in-line industrial tenants are all on month-to-month, below-market leases.
Area Description: 36737 Cathedral Canyon Dr., Cathedral City. Property is located at the NWC of Cathedral Canyon Dr., and Commercial Rd. in Cathedral City.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Year Built: 1975
Year Renovated: 2020
Parking Type: Surface
Total Parking Spaces: 10
X-Phase: 3-Phase
Zoning Description: Light Industrial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,150 50,128 114,583
Median Age: 55.03 44.2 46.19
Households: 3,723 20,138 49,313

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