Historic Firehouse Flex
For Sale
$970,800
36805 Cathedral Canyon Drive, Cathedral City, CA 92234
Single-tenant flex building with roll-up access and CBP-2 zoning near Highway 111 for a wide range of commercial uses.
Property Size3,153 SF
Price / SF$307.90
Days on Market53
Property Features for 36805 Cathedral Canyon Drive
General Information
Standard status
Active
Size
3,153 SF
Property subtype
Commercial
Amenities
Central air
Ductless Air Cooling
Ductless Heating
Paved
Shingle Roof
Building Details
Year Built
1950
Listing Agency:
PLATINUM STAR PROPERTIES
(760) 424-8027
Listed By:
JONATHAN BRIER · License #02207471
Source:
Corcoran
Added: Jun 18
Changed: Aug 7
Last Checked: Aug 9 at 7:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PLATINUM STAR PROPERTIES
Investment Insights
Based on property information with market context.
This property is a single-story, C-class industrial/flex building originally built in 1950, offering a compact footprint with one tenant configuration. The building features three roll-up doors for practical loading and flexible operations, and it is suited to users looking for a mix of industrial and creative-style space. Parking is available at a ratio of 0.71 per 1,000 square feet.
Located in downtown Cathedral City and directly across from the City Complex, the property has high visibility and frontage on Cathedral Canyon Drive. It is listed as less than 200 feet from Highway 111, providing strong access to a major corridor in the Coachella Valley.
The flexible CBP-2 zoning is highlighted as including all permitted uses of the CBP-1, PCC, and PLC zones, supporting a range of potential commercial applications. With roll-up access, a streamlined single-tenant setup, and highway-close exposure, the building may fit light industrial operators, retail users, and creative office concepts seeking a straightforward facility in a central downtown setting.
Located in downtown Cathedral City and directly across from the City Complex, the property has high visibility and frontage on Cathedral Canyon Drive. It is listed as less than 200 feet from Highway 111, providing strong access to a major corridor in the Coachella Valley.
The flexible CBP-2 zoning is highlighted as including all permitted uses of the CBP-1, PCC, and PLC zones, supporting a range of potential commercial applications. With roll-up access, a streamlined single-tenant setup, and highway-close exposure, the building may fit light industrial operators, retail users, and creative office concepts seeking a straightforward facility in a central downtown setting.
Key Highlights
- Historic 1‑story industrial building built in 1950 with 3,100+ SF on a 0.11 AC lot
- CBP‑2 zoning allows all permitted uses of CBP‑1, PCC, and PLC zones for a wide range of commercial uses
- Three roll‑up doors provide versatile loading and operations access
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
$49,539
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
5.10%
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%
$990,780
$990.8K
Cap Rate 7%
$707,700
$707.7K
Cap Rate 9%
$550,433
$550.4K
Market Conditions
NOI Build-Up for 3,153 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
$72.3K $22.92/SF
− Vacancy
−$6.2K −$1.97/SF
EGI
$66.1K $20.95/SF
− OpEx
−$16.5K −$5.24/SF
NOI
$49.5K $15.71/SF
Area
Riverside County, CA
Vacancy
8.60%
Lease Rate
$22.92 /SF/Yr
Expense Ratio
25.00%
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%
$990,780
Cap Rate 7%
$707,700
Cap Rate 9%
$550,433
Alternative Uses
Best Use
Office B
$707.7K
$619.2K – $825.7K
NOI $49,539 @ 7.0% cap · market cap 5.10%
Second Best
Warehouse
$449.1K
$393.0K – $524.0K
NOI $31,440 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$944.6K
$826.5K – $1.10M
NOI $66,121 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Under-served
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-tenant flex building with roll-up access and CBP-2 zoning near Highway 111 for a wide range of commercial uses.
Where is this flex space located?
The property is located at 36805 Cathedral Canyon Drive Cathedral City, CA.
What is the asking price?
The asking price for this property is $970,800.
What are key features of this property?
This property features: Historic 1‑story industrial building built in 1950 with 3,100+ SF on a 0.11 AC lot; CBP‑2 zoning allows all permitted uses of CBP‑1, PCC, and PLC zones for a wide range of commercial uses; Three roll‑up doors provide versatile loading and operations access
