Highway-Access Commercial
For Sale
$2,688,172
00 Bob Hope Drive, Rancho Mirage, CA 92270
Commercial land is offered for sale or ground lease near Bob Hope Drive and the 10 Freeway.
Property Size13,785 SF
Price / SF$195.01
Days on Market91
Property Features for 00 Bob Hope Drive
General Information
Standard status
Active
Size
13,785 SF
Property subtype
Land
Listing Agency:
(760) 946-2300
Listed By:
Marco Rossetti · License #1805951
(760) 946-2300
Source:
Cbre
Added: Jun 2
Changed: Aug 31
Last Checked: Aug 31 at 1:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marco Rossetti
Investment Insights
Based on property information with market context.
This commercial land offering is positioned near Bob Hope Drive and the 10 Freeway in Rancho Mirage, California. The property is available for sale or ground lease, with gas station, car wash, and fast-food concepts identified for ground-lease consideration.
Its location at a major freeway connection and along Bob Hope Drive provides a defined setting for commercial land users evaluating the site. The offering is structured to accommodate either an ownership transaction or a ground-lease arrangement.
Its location at a major freeway connection and along Bob Hope Drive provides a defined setting for commercial land users evaluating the site. The offering is structured to accommodate either an ownership transaction or a ground-lease arrangement.
Key Highlights
- Commercial land near the 10 Freeway and Bob Hope Drive
- Located in Rancho Mirage, California
- Available for sale or ground lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$197,591
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,951,820
$4.0M
Cap Rate 7%
$2,822,729
$2.8M
Cap Rate 9%
$2,195,456
$2.2M
Market Conditions
NOI Build-Up for 13,785 SF
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.
Gross rent
$297.8K $21.60/SF
− Vacancy
−$15.5K −$1.12/SF
EGI
$282.3K $20.48/SF
− OpEx
−$84.7K −$6.14/SF
NOI
$197.6K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,951,820
Cap Rate 7%
$2,822,729
Cap Rate 9%
$2,195,456
Alternative Uses
Best Use
Retail
$2.82M
$2.47M – $3.29M
NOI $197,591 @ 7.0% cap · market cap 7.35%
Second Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,815 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $289,083 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
129k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 89%
Shops & Services 7%
Hotels & Casinos 4%
In-N-Out Burger
Dining
81,397 visits/mo
0.5 miles
Carl's Jr.
Dining
12,665 visits/mo
0.5 miles
Denny's
Dining
10,683 visits/mo
0.5 miles
Del Taco
Dining
10,480 visits/mo
0.5 miles
Chevron
Shops & Services
6,117 visits/mo
0.5 miles
Demographics for 92270, CA
16,999
Population
14,936
Households
1.1
Avg Household Size
66
Median Age
47%
College-Educated
95%
High-School Grad
25.6 sq mi
ZIP Area
664
Density / Sq Mi
$109,943
Median Household Income
$60,084
Median Earnings
$1,575
Median Rent
$747,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land is offered for sale or ground lease near Bob Hope Drive and the 10 Freeway.
Where is this commercial land located?
The property is located at 00 Bob Hope Drive Rancho Mirage, CA.
What is the asking price?
The asking price for this property is $2,688,172.
What are key features of this property?
This property features: Commercial land near the 10 Freeway and Bob Hope Drive; Located in Rancho Mirage, California; Available for sale or ground lease
