32475 Date Palm Drive | Los Angeles | State of California | Prices, Plans, Availability

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This commercial income investment offers a robust Cap Rate of 8% with minimal operating expenses and has maintained 100% rental occupancy over the past 24 months. The property features a 6,250 SF building situated on an 18,730 SF lot, providing approximately 20 parking spaces. Building is in full compliance with ADA codes.The building comprises two suites of approximately 1,185 SF and 5,065 SF, including common areas. It currently houses two tenants: a hair salon and a cannabis testing lab. The hair salon's lease expires in 2025, while the cannabis testing lab's lease extends until 2024 with a renewal option. The Net Operating Income is projected to increase annually due to scheduled rental rate hikes.This well-maintained building has undergone extensive remodeling inside and out to accommodate the cannabis testing lab, including upgrades to electrical panels, plumbing, walls, ceilings, the installation of two new air conditioners, and roof maintenance. Tenants are responsible for their own repairs and maintenance.The property includes five bathrooms, break rooms, storage areas, newly built-in trash containers, and landscaped areas. It is ideally located on Date Palm Drive in the heart of Cathedral City, adjacent to Ramon Road, a major artery in the Coachella Valley. The location is surrounded by commercial amenities such as Starbucks, Applebee's, AutoZone, El Pollo Loco, and is near Palm Springs International Airport and the I-10 freeway.