Updated Jul 10, 2025
Joe Ahearn Of Pinnacle Estate Properties Represents Buyer In Circle K Sale For $4.2M
68835 East Palm Canyon Drive
$4,200,000
$1,135/SF
Building Size
3,700 SF
Asset Type
Retail
Closing
Jul 7, 2025
About this deal
AI
A newly built retail asset, specifically a Circle K, located at 68835 East Palm Canyon Drive in Cathedral City, has been sold for $4.2 million. The property spans 3,700 square feet and features a 20-year NNN lease with 10% rent increases every five years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,200,000
- Square Footage: 3,700 SF
- Price Per Square Foot: $1,135
- Seller: Fountainhead Development
- Buyer’s Representative: Joe Ahearn - Pinnacle Estate Properties
- Seller’s Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group
- Market: Cathedral City
The transaction was facilitated by Bill Asher and Jeff Lefko from Hanley Investment Group, representing the seller, Fountainhead Development. Joe Ahearn from Pinnacle Estate Properties represented the buyer, who was involved in a 1031 exchange originating from Ventura.
On the Map
$4,200,000
$1,135/SF
Retail
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Players
Cathedral City Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93