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30882525
32455601

68895 E Palm Canyon Dr, Cathedral City, CA 92234

BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
JL
CA 01942025, NE 20191334
Hanley Investment Group
Listed by Hanley Investment Group
$3,191,000
357 days on market
Updated 53 days ago
Opportunity zone

Farmer Boys | Cathedral City, CA

Details
Property Type Retail
Sub Type Restaurant
Square Footage 3,000
Net Rentable (SqFt) 3,000
Cap Rate 4.70%
NOI $150,000
Tenancy Single
Brand/Tenant Farmer Boys
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 11/30/2045
Remaining Term 19.4
Rent Bumps Yes
Lease Options Three 10-Year @ 10% Every 5 Years
Broker Co-Op Yes
Year Built 2025
Acreage 0.980
Lease Commencement 10/27/2025
Ground Lease Yes

New 20-Year Absolute NNN Ground Lease | Across from Agua Caliente Casino (Top 2% Casino Nationwide)

Marketing description

CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/FarmerBoys_CathedralCity

Investment highlights

  • Located in an Opportunity Zone

  • Single-Tenant Corporate Farmer Boys Drive-Thru:

    • New 20-year absolute NNN ground lease; zero landlord responsibilities

    • 10% increases every 5 years during the base term and each of the three 10-year options

    • Farmer Boys is a leading restaurant concept that offers delicious meals made with fresh, locally sourced ingredients whenever possible

    • 100+ locations and counting across California, Nevada, and Arizona

  • Strategically Situated Across from the New Agua Caliente Casino (Top 2% Casino Nationwide, Placer.ai):

    • Agua Caliente Casino Cathedral City is ranked within the top 2% of casinos nationwide, based on consumer traffic, according to Placer.ai

    • The casino is 125,000 square feet and consists of over 30,000 square feet of casino gaming, including 530 of the newest, most exclusive slot machines, 8 live table games, and three restaurants and bars

  • Located in the Newly Constructed Cathedral Cove Center in the Heart of Downtown Cathedral City: Co-tenants include Circle K, Chipotle, and Starbucks

  • Strong Central Highway 111 Location to Serve the Coachella Valley’s 425,000 Year-Round Residents, 150,000 Snowbirds and Over 14 Million Tourists Per Year

  • Positioned at the Signalized Intersection of Palm Canyon Drive/Highway 111, a Primary North/South Thoroughfare, and Date Palm Drive; One of the Busiest Intersections in the Coachella Valley (55,000+ CPD)

  • Major Tourist Attraction: The Coachella Valley is home to 4 casinos and over 130 golf courses, Coachella Valley Music & Arts Festival, Stagecoach, Riverside County Fair & National Date Festival, BNP Paribas Open, and American Express PGA Golf Tournament

Listing Contacts

BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
JL
CA 01942025, NE 20191334
Hanley Investment Group
Listed by Hanley Investment Group

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$150,000.00
$12,500.00/mo

Valuation Metrics

0
DSCR
4.7%
Cap Rate
4.7%
ROI

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