18,190 SF - 2 Industrial buildings with approved cannabis CUP

Cathedral City, CA

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

Desert Pacific Properties Cannabis Real Estate
Building Image Collage of 36737 Cathedral Canyon Dr, Cathedral City, CA

Features

  • Zoned for Cannabis – cultivation, manufacturing, and distribution
  • Building 1 – approved CUP – 18-022 for 14,921 SF Cannabis cultivation, manufacturing, and distribution facility, expires 12/19/21
  • Building 2 – 3,586 SF Commercial building currently leased to Trunks Bar
  • 11-Tenant, below market rents – $19,301 monthly rental income
  • Provisional license and CUP included in sale of property
  • 5% Cap rate
  • Asking Price: $3,195,000 ($175/SF)

Vicinity Map

Building Rendering Image of 36737 Cathedral Canyon Dr, Cathedral City, CA
CUP 18-022 Site Plan of 36737 Cathedral Canyon Dr, Cathedral City, CA

Amenities

  • Buiding 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
  • Power: 3 Phase Power
  • Opportunity Zone: Yes
  • Fire Sprinklers: No
  • Year Built: 1975
  • Highest and Best Use: Cannabis Cultivation, Leased Investment
  • 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

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:JC04/15/21#2272C

Contact
Paula Turner profile photo

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

Desert Pacific Properties Cannabis Real Estate

Ranked #1 in the Coachella Valley for Commercial Real Estate

Rebecca Ramirez Profile Photo

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