68482 E Palm Canyon Dr Local commercial 808 m² À vendre Cathedral City, CA 92234 1 464 346 € (1 811,73 €/m²)

Prime Corner Owner-User / Value-Add Retail Opportunity
Rare opportunity to acquire an 8,700 SF multi-tenant retail property positioned on one of Cathedral City's most visible commercial corners. Located at the signalized northwest corner of East Palm Canyon Drive (Highway 111) and Cathedral Canyon Drive, the property benefits from approximately 35,000 vehicles per day and exceptional exposure in the heart of Downtown Cathedral City.
The property consists of three suites totaling approximately 8,700 SF. Two occupied suites of approximately 2,000 SF each are leased through December 2027 and generate current gross income of approximately $31,000 annually. Existing rents are significantly below market, creating future upside potential.
The crown jewel of the property is the approximately 4,700 SF vacant corner suite occupying the hard corner location. Featuring prominent frontage, abundant visibility, and direct exposure to one of the valley's busiest intersections, the space presents an ideal opportunity for an owner-user, retailer, showroom, entertainment use, or investor seeking to reposition the asset. The vacant suite also benefits from two dock high loading areas; one on the side of the property and one in the rear.
Built in 1949 with reported upgrades in 2009, the property is being offered in its current "as-is" condition. The vacant suite and portions of the property require substantial cosmetic improvements, deferred maintenance, and modernization. However, the pricing reflects the property's condition, allowing a buyer to capitalize on an irreplaceable location while implementing a renovation and repositioning strategy.
Downtown Cathedral City continues to experience significant public and private investment. The property sits directly across from City Hall and is surrounded by restaurants, entertainment venues, retail businesses, and the city's public parking structure. Additionally, the property is approximately one mile from the recently completed Cathedral Cove development, where nationally recognized tenants including Starbucks, Chipotle, Farmers Brothers Coffee, and Circle K have established locations. The nearby Agua Caliente Casino Cathedral City further strengthens the area's growth and consumer traffic.