34331 Date Palm Dr Cathedral City, CA 92234-6869

Property Details for 34331 Date Palm Dr

Year built

1998

Construction

WOOD

Lot size

0.58 lot acres

Property size

10,080 SF

Zone code

CTR

Property type

Turn key restaurants

APN

687-440-004

APU

687440004

Description

Exceptional investment opportunity: A 7,500 square foot, free-standing DJ's Sports Bar & Grill in Cathedral City, CA is available for purchase. This Class B, single-tenant retail property boasts a strong net lease with a 6.25% cap rate and features a favorable 5% annual rent increase. The property sits on a 0.58-acre lot and is part of the Cathedral City Marketplace, a 170,000 square foot shopping center anchored by Food4Less. Built in 1998, the one-story building benefits from high visibility and easy access due to its location at a major retail intersection, providing excellent ingress and egress. The lease has over eight years remaining, with two five-year extension options, providing long-term stability. The tenant, a successful local restaurateur, opened in April 2024 and has demonstrated exceptionally high sales in its initial months of operation, further solidifying the investment's potential. The property's location in the rapidly growing Coachella Valley, known for its significant tourism and economic growth (over $8 billion annually), adds to its appeal. The proximity to major transportation arteries (Hwy 11 and I-10), the local airport, and the upcoming Disney's Cotino mixed-use development presents significant long-term growth opportunities. The asking price is $1,640,000. APN: 687440004.