For Sale
$1,640,000

34331 Date Palm DrCathedral City, CA 92234

Net-Leased Sports Bar, High Growth Area

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Triple-net lease with over 8 years remaining.
  • Rare 5% annual rent increases.
  • Strong personal guarantee from a local operator with a proven track record.
  • Pad site at Cathedral City Marketplace, anchored by Food4Less, DD's, and Planet Fitness.
  • Located within 10 minutes of Disney's Cotino, a 618-acre mixed-use development.
  • High visibility corner location at major retail intersections.

Property Details for 34331 Date Palm Dr

Property type
Retail properties, Restaurants
Square Feet
7,500 SF
Class
B
Year Built
1998
Buildings
1
Stories
1
Lot Size (sq. ft)
25,265 SF

Location Insight

City
Cathedral City
County
Riverside
State
California
Latitude
33.799062220576
Longitude
-116.45925953725
34331 Date Palm Dr, Cathedral City, California

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34331 Date Palm Dr
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