Vacant Flex Space with
New
For Sale
$1,495,000
68415 Perez Rd Cathedral, Cathedral City, CA 92234
I-1 zoning and loading access support a range of light industrial uses.
Property Size6,090 SF
Lot Size0.45 Acres
Days on Market2
Property Features for 68415 Perez Rd Cathedral
General Information
Standard status
Active
Size
6,090 SF
Lot size
0.45 Acres
Property subtype
Free Standing Building
Zoning
I-1
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
9
Building Details
Building Size
6,090 SF
Year Built
1999
Listing Agency:
Prime Net Lease
(714) 874-4004
Listed By:
Michael Matusik · License #01888322
(714) 874-4004
Source:
Thebrokerlist
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 7:45AM
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 Prime Net Lease
Investment Insights
Based on property information with market context.
Built in 1999, this vacant flex space offers an owner-user configuration with immediate occupancy. The property includes a 19,602 SF site with yard area and parking, along with nine grade-level doors for loading and service access. I-1 zoning supports numerous light industrial applications, including auto repair, collision centers, and manufacturing, subject to buyer verification with the City.
The property is located at 68415 Perez Rd in Cathedral City, near Downtown Cathedral City and the established industrial district. Perez Road provides visibility, while nearby Cathedral Canyon Dr records over 15,000 vehicles. Interstate 10 and Highway 11 are accessible from the area, which is surrounded by service industrial businesses and located near the Cathedral City Auto Center and Agua Caliente Casino Cathedral City.
The property is located at 68415 Perez Rd in Cathedral City, near Downtown Cathedral City and the established industrial district. Perez Road provides visibility, while nearby Cathedral Canyon Dr records over 15,000 vehicles. Interstate 10 and Highway 11 are accessible from the area, which is surrounded by service industrial businesses and located near the Cathedral City Auto Center and Agua Caliente Casino Cathedral City.
Key Highlights
- Vacant flex space available for immediate occupancy
- 19,602 SF site with yard area and parking
- Nine grade‑level doors provide loading and service 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
$50,010
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
3.35%
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%
$1,000,200
$1.0M
Cap Rate 7%
$714,429
$714.4K
Cap Rate 9%
$555,667
$555.7K
Market Conditions
NOI Build-Up for 6,090 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
$76.0K $12.48/SF
− Vacancy
−$4.6K −$0.75/SF
EGI
$71.4K $11.73/SF
− OpEx
−$21.4K −$3.52/SF
NOI
$50.0K $8.21/SF
Area
Riverside County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,000,200
Cap Rate 7%
$714,429
Cap Rate 9%
$555,667
Alternative Uses
Best Use
Industrial
$714.4K
$625.1K – $833.5K
NOI $50,010 @ 7.0% cap · market cap 3.35%
Second Best
Flex RnD
$663.4K
$580.5K – $774.0K
NOI $46,438 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,712 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Well-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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - I-1 zoning and loading access support a range of light industrial uses.
Where is this flex space located?
The property is located at 68415 Perez Rd Cathedral Cathedral City, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Vacant flex space available for immediate occupancy; 19,602 SF site with yard area and parking; Nine grade‑level doors provide loading and service access
