68-67 Palm Canyon Dr Cathedral City, CA 92234
- Lifestyle centers
- 37,895 SF
- 4.05 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 68-67 Palm Canyon Dr
- Year built
- 1981
- Lot size
- 4.05 lot acres
- Property size
- 37,895 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Canyon Plaza, a prime retail investment opportunity in Cathedral City, CA, presents a compelling value-add proposition. This 37,895 square foot shopping center, situated on a 4.05-acre lot at 68-67 E Palm Canyon Dr (Highway 111), boasts a prominent location with daily traffic counts exceeding 52,500 vehicles. Currently housing 24 tenants with an 87% occupancy rate, the center offers a diverse mix of retail and service businesses. Built in 1981 and subsequently remodeled, the property features a Net Operating Income (NOI) of $589,757, translating to a 7.00% capitalization rate and a price per square foot of $224.96. The asking price is $8,525,000. The property is offered fee simple with a triple net (NNN) lease structure and includes rent bumps. This single-story center presents a strong cash flow with significant upside potential for future growth. The property's strategic location on a major thoroughfare in a thriving desert community makes it an exceptional investment opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cathedral City
- County
- Riverside
- State
- California
- Longitude
- -116.463
- Latitude
- 33.7799
