68945 Perez Rd - Showroom FOR SALE


Cathedral City, CA 92234
$6,950,000 USD
760-774-6533
68945 Perez Rd, Cathedral City, CA for Sale
$6,950,000 USD
Showroom - FOR SALE
1/6
null | 7.15% Cap Rate

68945 Perez Rd
Cathedral City, CA 92234


HIGHLIGHTS

  • Adjacent to Dunn Edwards Paints and Caliber Collision.
  • 7.15% in-place cap rate
  • Assumable interest-only financing fixed until Feb-2028, creating an 11.30% cash-on-cash return.
  • Existing Tenant Caliber Collision is a National Credit Tenant (10,913 SF) who has been at the property since 1995.
  • Prime location in the Perez Road corridor, a thriving business district known as a design and art hub for over 30 years.
  • Quality concrete construction building with upgraded facade and concrete parking lot.

OVERVIEW

• 7.15.% in-place cap rate. • Assumable interest-only financing fixed until Feb-2028, creating a 11.30% cash-on-cash return. • Existing Tenant Caliber Collision is a National Credit Tenant (10,913 SF) who has been at the property since 1995. • Prime location in the Perez Road corridor, a thriving business district known as a design and art hub for over 30 years. • The property is located near Downtown Cathedral City, which offers dining, entertainment, and retail, including the new Agua Caliente Casino, less than a block away. • Quality concrete construction building with upgraded facade and concrete parking lot. LOCATION DESCRIPTION: 68945 Perez Rd. is located in Cathedral City, CA, part of the greater Coachella Valley submarket adjacent to the city of Palm Springs. The property is part of the Perez Road corridor adjacent to Highway 111, the main thoroughfare connecting all nine Coachella Valley cities. The property is Located near the Perez Road and Date Palm Drive intersection and adjacent to Dunn Edwards Paint. In addition, the property is surrounded by various showrooms, light industrial-related uses, offices, and retail, including the new Agua Caliente Casino, located only one block away! Perez Road in Cathedral City has been known to be a design/art hub for over 30 years. SALE DESCRIPTION: 68945 Perez Road is a multi-tenant NNN industrial investment with a national credit tenant, Caliber Collision, who has occupied 1/3 of the property since 1995. The property offers a 7.15% in-place cap rate at the listing price. It also provides available assumable interest-only financing fixed at 4% until Feb-2028 and then 4.5% until Feb-2033.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$236 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Showroom

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

UTILITIES

Lighting, Gas - Natural, Water - City, Sewer - City, Heating - Gas

CLEAR CEILING HT

16 Ft

DOCKS

-

DRIVE INS

8

PARKING SPACES

76

LAND DETAILS

LAND ACRES

1.72

LAND SF

74,923

ZONING

I-1

APN/PARCEL ID

687-330-027

ASK ABOUT THIS PROPERTY

Michael LyleColdwell Banker Commercial Lyle & AssociatesMore Info
760-774-6533

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Michael LyleColdwell Banker Commercial Lyle & AssociatesMore Info
760-774-6533

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.