31033 Date Palm Dr 126,745 SF 100% Leased Retail Building Cathedral City, CA 92234 $10,500,000 ($82.84/SF) 2.82% Cap Rate

31033 Date Palm Dr presents a predominantly vacant retail investment opportunity with approximately 85% vacancy, offering investors a rare chance to acquire a highly accretive value-add asset with substantial lease-up upside. The offering consists of a 14-unit multi-tenant retail center totaling 126,745 SF, situated on a 14.30-acre lot at the signalized intersection of Date Palm Drive and McCallum Way in the heart of Cathedral City, CA. Originally built in 1992 and renovated in 2007, the asset provides a modern construction profile with significant NOI growth potential through aggressive re-leasing at market rents and strategic tenant repositioning.
The property features five exterior loading docks, ±888 on-site parking spaces, and strong dual-street frontage, supporting a wide range of retail, medical, institutional, and logistics-oriented users. Big 5 Sporting Goods anchors the center with a lease through 2030, providing in-place income and long-term stability, while Spirit Halloween has committed to return for the 2026 season, offering recurring seasonal income. With strong traffic counts, proximity to Palm Springs, and regional demand drivers throughout the Coachella Valley, the asset is exceptionally positioned for sustained tenant demand, long-term appreciation, and multiple executable paths to grow NOI and investor equity.