diff --git a/homeassistant/components/geo_location/__init__.py b/homeassistant/components/geo_location/__init__.py
index af64443ca283..c5e91d32b203 100644
--- a/homeassistant/components/geo_location/__init__.py
+++ b/homeassistant/components/geo_location/__init__.py
@@ -3,7 +3,7 @@ from __future__ import annotations
 
 from datetime import timedelta
 import logging
-from typing import Any, final
+from typing import TYPE_CHECKING, Any, final
 
 from homeassistant.config_entries import ConfigEntry
 from homeassistant.const import ATTR_LATITUDE, ATTR_LONGITUDE
@@ -16,6 +16,12 @@ from homeassistant.helpers.entity import Entity
 from homeassistant.helpers.entity_component import EntityComponent
 from homeassistant.helpers.typing import ConfigType
 
+if TYPE_CHECKING:
+    from functools import cached_property
+else:
+    from homeassistant.backports.functools import cached_property
+
+
 _LOGGER = logging.getLogger(__name__)
 
 ATTR_DISTANCE = "distance"
@@ -51,7 +57,15 @@ async def async_unload_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
     return await component.async_unload_entry(entry)
 
 
-class GeolocationEvent(Entity):
+CACHED_PROPERTIES_WITH_ATTR_ = {
+    "source",
+    "distance",
+    "latitude",
+    "longitude",
+}
+
+
+class GeolocationEvent(Entity, cached_properties=CACHED_PROPERTIES_WITH_ATTR_):
     """Base class for an external event with an associated geolocation."""
 
     # Entity Properties
@@ -68,22 +82,22 @@ class GeolocationEvent(Entity):
             return round(self.distance, 1)
         return None
 
-    @property
+    @cached_property
     def source(self) -> str:
         """Return source value of this external event."""
         return self._attr_source
 
-    @property
+    @cached_property
     def distance(self) -> float | None:
         """Return distance value of this external event."""
         return self._attr_distance
 
-    @property
+    @cached_property
     def latitude(self) -> float | None:
         """Return latitude value of this external event."""
         return self._attr_latitude
 
-    @property
+    @cached_property
     def longitude(self) -> float | None:
         """Return longitude value of this external event."""
         return self._attr_longitude