34131 Date Palm DrCathedral City, CA 92234

Property Details for 34131 Date Palm Dr

Year built

2000

Construction

WOOD

Lot size

0.59 AC

Property size (Sq ft)

5,500 SF

Zone code

CTR

Property type

Healthcare properties

Property subtype

Medical offices

APN

687-440-007

APU

687440007

Description

This exceptional investment opportunity presents a 5,470 square foot, Class B, two-tenant medical building situated on a 26,136 square foot lot in Cathedral City, CA. The property, built in 2000, boasts 100% occupancy with a strong tenant roster. Cathedral City Family Medical Clinic, a well-established practice with a 16-year history at this location, recently signed a four-year lease extension. Coachella Valley Optometry, a regional brand, is on a new 10-year lease, with a projected grand opening in Q4 2024. Both tenants operate under triple-net (NNN) leases, featuring 3% annual rent escalations, minimizing landlord responsibilities. The property enjoys high visibility at a hard corner intersection of major retail arteries, providing excellent access and exposure. It's strategically located as an outparcel to the thriving Cathedral City Marketplace, a 170,000 square foot shopping center anchored by Food4Less, and benefits from over 1.1 million annual visitors. The property offers 30 parking spaces and is conveniently located near Highway 11 and I-10, providing easy access to the Coachella Valley and its significant tourism revenue (over $8 billion annually). The asking price is $2,270,000, representing a 6.00% cap rate and $415 per square foot. The property's proximity to Disney's Cotino mixed-use development further enhances its long-term growth potential. This is a stabilized investment with a proven track record and significant upside. The property's APN is 687440007.

• CAP approach

  CAP return

  Valuation

  6%

  $1,511,622

  6.5%

  $1,395,344

  7%

  $1,295,676

• Comparable approach

  Method

  Valuation

  Relative Method

  $964,824

  Geo Method

  $1,935,835

• Alternative Use

  Use

  Valuation

  Residential

  $1,730,226

  Hospitality

  $1,584,878

  Educational

  $1,318,600

  Medical

  $1,363,948

  Retail

  $2,051,155

Location Insight

City

Cathedral City

County

Riverside

State

California

Latitude

33.8

Longitude

-116.459

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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