Palm Desert Multi-Tenant Commercial
73993 Hwy 111, Palm Desert, CA 92260
COMMERCIAL - Palm Desert, CA
Type:Office
Property size:
9,506 SFLot size:
0.27 AcresPrice / SF:
$310/SF- Added:
- May 7, 2026
- Days on Market:
- 22
- Last Refresh:
- May 28 at 4:06 am
Property Features for 73993 Hwy 111
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 627222058
- Size
- 9,506 SF
- Lot size
- 0.27 Acres
Utilities
- Heating system
- Central
Building Details
- Year built
- 2000
Listing agent Susan Harvey License #00957590 (760) 360-8200
Listing office Desert Pacific Properties 44267 Monterey Ave Ste. A, La Quinta, CA (760) 360-8200
Listing date May 7, 2026
MLS# 219147555
Copyright © 2026 California Desert Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime location at the signalized corner of Highway 111 and Portola Ave with high traffic count (54,071 average cars per day).
- Ideal owner/user opportunity with a 6,000 SF lower level available and existing high‑quality tenants on the second level.
- Well‑maintained 9,506 SF multi‑tenant commercial building suitable for medical/professional use.
- High visibility with excellent signage.
- Close proximity to El Paseo, a premier luxury shopping and dining destination.
- Covered parking onsite.
Overview
This 9,506 square foot multi-tenant commercial building is located in Palm Desert. The property is suited for medical or professional use. Situated at the signalized corner of Highway 111 and Portola Ave, the location benefits from high visibility and signage, with an average daily traffic count of 54,071 cars. Onsite covered parking is available. The property is well-maintained and is near El Paseo, a shopping and dining destination with businesses such as Gucci, Restoration Hardware, Louis Vuitton, Mastro's Steakhouse, Anthropologie and Apple. The 6,000 square foot lower level is currently under a month-to-month master lease, presenting a potential opportunity for an owner/user, with tenants on the second level. The property is located in an area with affluent demographics and sits on a 0.27-acre lot.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.66M
NOI $149,355 @ 9.00% cap · cautious / downside scenario
Moderate
$2.13M
NOI $149,355 @ 7.00% cap · market / base-case scenario
Aggressive
$2.99M
NOI $149,355 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $217.9k | $22.92 |
| − Vacancy | −$18.7k | −$1.97 |
| EGI | $199.1k | $20.95 |
| − OpEx | −$49.8k | −$5.24 |
| NOI | $149.4k | $15.71 |
9,506 SF · lease $22.92/SF/yr · vacancy 8.60% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.13M
$1.87M – $2.49M
NOI $149,355 @ 7.0% cap · market cap 5.06%
Second Best
Healthcare Medical
$1.38M
$1.21M – $1.61M
NOI $96,654 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,349 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Palm Desert
- County
- Riverside
- State
- California
- Longitude
- -116.37404
- Latitude
- 33.720881
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 9,506 SF multi-tenant building in the heart of Palm Desert.
Where is this office building located?
The property is located at 73993 Hwy 111 Palm Desert, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Prime location at the signalized corner of Highway 111 and Portola Ave with high traffic count (54,071 average cars per day).; Ideal owner/user opportunity with a 6,000 SF lower level available and existing high‑quality tenants on the second level.; Well‑maintained 9,506 SF multi‑tenant commercial building suitable for medical/professional use.
