Description

If you are looking for a lucrative commercial investment that has an ideal location,100% rental occupancy, with no rental loses in the last 24 months, has a cap rate of 6.8%, with minimal operating expenses. This property is a well-maintained building that has been remodeled and upgraded extensively for the operating Cannabis Testing Lab Rental. Your ideal commercial real estate investment is located in a established commercial/retail market of Cathedral City, Ca. This property boasts 6,250 SF of building space and is currently designed for two retail/office business spaces. The suites are approx. 1185 SF ( bottom Floor right side) and 5065 SF ( Entire top floor and the reminder of the bottom floor, left side) which include the common area spaces. The building has approx. 20 parking spaces and is in compliance with ADA codes, with regard to parking space, back and front entrance accessibility, a recently built ADA ramp, and remodeled ADA bathrooms for both rental spaces. The property sits on 18,730 SF. lot. Currently, one tenant operates a Hair Salon and the other, state of the art Cannabis Testing Lab. Both tenants' leases expire in 2024 and 2025 (respectively). The tenant for the Cannabis lab has a 5-year option to continue with the lease, and the hair salon would like to stay longer. Both Tennant is responsible for repairs and maintenance of their leased spaces and the cannabis testing lab maintains outside landscaping. Owners have recently upgraded the electrical