Active

68686 Summit Drive

Cathedral City CA, 92234

$1,600,000


$257.48 per sqft

Active

6,214 sqft

Commercial

Built in 1978

Listed by Sarkis Ter-Minasyan with Craft & Bauer Real Estate Co. 424-200-6282

Attention investors, here lies an exceptional opportunity to acquire a unique, free-standing industrial property in the thriving Cathedral City GREEN ZONE. This 6,214 sq. ft. building is situated on a generous 17,424 sq. ft. lot and holds massive potential for the innovative investor.

Currently, this property is perfect for an auto body shop with its street-front visibility, multiple roll-up doors, and a spacious, secure, and fenced yard area. Its strategic design caters to a multitude of business requirements, making it a lucrative choice for investors seeking a flexible, adaptable space.

But the true potential lies in its location in a pro-cannabis city. With favorable city tax rates and straightforward guidelines for obtaining permits for cannabis businesses, the transition from an auto body shop to a thriving cannabis operation could be just within reach.

Further enhancing its attractiveness is its prime location, providing convenient access to the 10 Freeway and all areas of the Greater Coachella Valley. Positioned in the heart of Cathedral City's industrial area, this property presents a golden opportunity for those willing to leverage its potential.

With its flexible use possibilities and potential for growth, this property could be the cornerstone of your investment portfolio. Don't let this chance slip by; schedule your viewing today!

SB23118101

MLS ID

June 27, 2023

Listed

February 17, 2024

Updated

Map

68686 Summit Drive
Cathedral City CA, 92234

Interior Features

Total Stories

1


Laundry Description

None


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.4 Acres

Other Property Details

Area Name

336 - Cathedral City South


Days on Market

229


Garage

No


View

No


County

Riverside


Water Source

Public


Pool

No


Zoning

IP - GREEN ZONE


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

1/22/2024

Price Change

$1,600,000

-9%

Listing Contact: 424-200-6282 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/17/2024 at 5:37 PM UTC

 

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