• 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.