Cathedral City Marketplace Medical Pad | 34131 Date Palm Dr
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Cathedral City Marketplace Medical Pad 34131 Date Palm Dr
5,447 SF 100% Leased Retail Building Cathedral City, CA 92234 $2,270,000 ($417/SF) 6% Cap Rate
Investment Highlights
- Cathedral City Family Medical Clinic is a growing medical brand with 10 locations across the state: the Clinic has occupied the Property for 16 years
- Both tenants operate on NNN leases, minimizing landlord responsibilities
- Pad location of Cathedral City Marketplace, a neighborhood shopping center anchored by Food4Less, DDs, and Planet Fitness, among others
- Coachella Valley Optometry is a well-known regional brand on a new 10-year lease with an estimated grand opening to occur in Q4 2024
- Highly exposed location with visibility and ingress/egress provided at the hard corner of two major retail arterials
- Disney’s Cotino 618-acre mixed-use development will be their ?rst planned neighborhood and within a 10-minute drive of the Property
Executive Summary
The Offering provides the opportunity to acquire a freestanding, 7,500 SF DJ’s Sports Bar & Grill, with 5% annual rent increases. DJ’s Sports Bar & Grill opened in April 2024 and has over 8 years remaining of ?rm term with 2, 5-year extension options. DJ’s is a popular sports bar serving the greater Coachella Valley, owned and operated by a successful area restaurateur, with exceedingly high monthly sales in their ?rst few months of operation. Cathedral City Marketplace is a 170K SF Food4Less grocery-anchored neighborhood shopping center with frontage on Date Palm Dr., a major connector to the nearby Hwy 11 and I-10 arterials, running through the Coachella Valley.
Property Facts In Escrow
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,447 SF
Building Class
C
Year Built
2000
Price
$2,270,000
Price Per SF
$417
Cap Rate
6%
NOI
$136,200
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
0.60 AC
Zoning
PCC, Cathedral City - Planned Community Commercial
Parking
30 Spaces (5.48 Spaces per 1,000 SF Leased)
Frontage
119 FT on Date Palm Dr
Walk Score ®
Very Walkable (73)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 687-440-007 | Improvements Assessment | $649,795 |
| Land Assessment | $213,045 | Total Assessment | $862,840 |
PROPERTY TAXES
Parcel Number
687-440-007
Land Assessment
$213,045
Improvements Assessment
$649,795
Total Assessment
$862,840
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Cathedral City Marketplace Medical Pad | 34131 Date Palm Dr
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