32475 Date Palm Dr, Cathedral City, CA 92234

6,010 SF 0.41 ac lot Built 1991

Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity

Property ID

US09-1411794

Google Maps

This exceptional income-producing property, located at 32475 Date Palm Dr, Cathedral City, CA 92234, presents a compelling investment opportunity. The 6,560 square foot building, situated on a 0.43-acre lot, boasts a strong 8.44% cap rate and a Net Operating Income (NOI) of $160,000. Fully renovated three years ago, this two-story structure features two suites (approximately 1,185 SF and 5,065 SF) currently occupied by a barber/hair salon and a cannabis testing lab, ensuring 100% occupancy. The property includes 20 parking spaces, five bathrooms, break rooms, storage areas, and landscaped grounds. Recent improvements exceeding $500,000 include new flooring, electrical upgrades, plumbing, HVAC systems, and a new roof. The building is ADA compliant and features a NNN lease structure with rent bumps. Its prime location on Date Palm Drive, adjacent to Ramon Road, offers excellent visibility and accessibility, surrounded by numerous commercial amenities including Starbucks, Applebee's, and AutoZone, and close proximity to Palm Springs International Airport and the I-10 freeway. The property is zoned for commercial use and has an APN of 680-292-027. This is a turnkey investment with significant upside potential. Asking price is $1,895,000.