For Sale
$1,640,000

34331 Date Palm Dr Cathedral City, CA 92234

Net-Leased Sports Bar, High Growth Area

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Retail property - Net-Leased Sports Bar, High Growth Area
Where is the retail property located?
The property is located at 34331 Date Palm Dr Cathedral City, CA.
What is the asking price?
The asking price for this property is $1,640,000.
What are key features of this property?
This property features: 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.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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34331 Date Palm Dr
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