Two-Unit Tilt-Up Flex
For Sale
$1,800,000
68739 Summit Drive, Cathedral City, CA 92234
COMMERCIAL - Cathedral City, CA
Property Size7,729 SF
Lot Size0.36 Acres
Price / SF$232.89
Days on Market31
Property Features for 68739 Summit Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
336 - Cathedral City South
Standard status
Active
APN
687162003
Size
7,729 SF
Lot size
0.36 Acres
Amenities
fenced parking area
Building Details
Year built
1973
Listing Agency:
Desert Pacific Properties
(760) 360-8200
Listed By:
Paula Turner · License #00702492
(760) 360-8200
Added: Jul 27
Changed: Aug 4
Last Checked: Aug 26 at 1:06PM
MLS# 219150831
Copyright © 2026 California Desert Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two-unit tilt-up flex building on a 0.36-acre lot, totaling 7,729 square feet. The property includes a fenced parking area and flexible suite configurations intended to accommodate a variety of industrial and warehouse-style commercial uses.
The front unit is built out for cannabis manufacturing, and the listing notes that a cannabis license and equipment are available. The building was constructed in 1973.
This combination of tilt-up industrial space, fenced parking, and a cannabis-focused front buildout may be relevant for owner-users and tenants looking for an adaptable flex layout within a single property.
The front unit is built out for cannabis manufacturing, and the listing notes that a cannabis license and equipment are available. The building was constructed in 1973.
This combination of tilt-up industrial space, fenced parking, and a cannabis-focused front buildout may be relevant for owner-users and tenants looking for an adaptable flex layout within a single property.
Key Highlights
- 0.36‑acre lot with 7,729 SF two‑unit tilt‑up flex building
- Fenced parking area on site
- Flexible suite configurations for industrial and warehouse users
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,070
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,541,400
$1.5M
Cap Rate 7%
$1,101,000
$1.1M
Cap Rate 9%
$856,333
$856.3K
Market Conditions
NOI Build-Up for 7,729 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.5K $12.48/SF
− Vacancy
−$5.8K −$0.75/SF
EGI
$90.7K $11.73/SF
− OpEx
−$13.6K −$1.76/SF
NOI
$77.1K $9.97/SF
Area
Riverside County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,541,400
Cap Rate 7%
$1,101,000
Cap Rate 9%
$856,333
Alternative Uses
Best Use
Warehouse
$1.10M
$963.4K – $1.28M
NOI $77,070 @ 7.0% cap · market cap 4.28%
Second Best
Industrial
$906.7K
$793.4K – $1.06M
NOI $63,469 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,083 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92234, CA
51,509
Population
23,114
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
3,480
Density / Sq Mi
$67,031
Median Household Income
$34,895
Median Earnings
$1,554
Median Rent
$420,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 3Ten Cuisine — 37219 bankside dr, cathedral city, ca 92234
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Frequently Asked Questions
What type of property is this?
Flex space - Two-unit tilt-up flex building with fenced parking and flexible suite configurations for industrial, warehouse, and cannabis users.
Where is this flex space located?
The property is located at 68739 Summit Drive Cathedral City, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 0.36‑acre lot with 7,729 SF two‑unit tilt‑up flex building; Fenced parking area on site; Flexible suite configurations for industrial and warehouse users
