Six-Suite Medical Office
For Sale
$3,500,000
100-35280 Bob Hope Dr, Rancho Mirage, CA 92270
Medical and professional suites with an owner-user vacancy and four leased spaces generating income.
Property Size8,276 SF
Price / SF$422.91
Days on Market216
Property Features for 100-35280 Bob Hope Dr
General Information
Standard status
Active
Size
8,276 SF
Additional Details
Highway Access
Yes
Office Units
6
Building Details
Buildings
1
Building Size
8,276 SF
Tenancy
Multi
Listing Agency:
Desert Pacific Properties
(760) 360-8200
Listed By:
Susan Harvey · License #00957590
(760) 360-8200
Source:
Exprealty
Added: Jan 9
Changed: Aug 12
Last Checked: Aug 12 at 4:57AM
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 Desert Pacific Properties
Investment Insights
Based on property information with market context.
This 8,276 SF medical and professional office property contains six suites, including a 2,500 SF vacancy suitable for an owner-user or new lease. Four suites are leased and producing income, while abundant parking supports the building’s multi-occupant configuration.
The property is located at 100-35280 Bob Hope Dr in Rancho Mirage, across from The Westin Rancho Mirage hotel and golf resort. Eisenhower Medical Center is 1.7 miles away, and the I-10 Freeway is 2 miles from the building. The site is also 1/4 mile from Disney’s Cotino mixed-use development, which includes homes, a hotel, shopping, dining, entertainment, and a 24-acre Crystal Lagoon. Del Webb Rancho Mirage is just over 1/2 mile away, and the surrounding corridor records 39,000 cars per day.
The property is located at 100-35280 Bob Hope Dr in Rancho Mirage, across from The Westin Rancho Mirage hotel and golf resort. Eisenhower Medical Center is 1.7 miles away, and the I-10 Freeway is 2 miles from the building. The site is also 1/4 mile from Disney’s Cotino mixed-use development, which includes homes, a hotel, shopping, dining, entertainment, and a 24-acre Crystal Lagoon. Del Webb Rancho Mirage is just over 1/2 mile away, and the surrounding corridor records 39,000 cars per day.
Key Highlights
- 8,276 SF medical/professional building with six suites
- Four leased suites provide income; one 2,500 SF suite is vacant
- Abundant parking for the multi‑suite property
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
$130,030
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
3.72%
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%
$2,600,600
$2.6M
Cap Rate 7%
$1,857,571
$1.9M
Cap Rate 9%
$1,444,778
$1.4M
Market Conditions
NOI Build-Up for 8,276 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
$189.7K $22.92/SF
− Vacancy
−$16.3K −$1.97/SF
EGI
$173.4K $20.95/SF
− OpEx
−$43.3K −$5.24/SF
NOI
$130.0K $15.71/SF
Area
Riverside County, CA
Vacancy
8.60%
Lease Rate
$22.92 /SF/Yr
Expense Ratio
25.00%
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%
$2,600,600
Cap Rate 7%
$1,857,571
Cap Rate 9%
$1,444,778
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,030 @ 7.0% cap · market cap 3.72%
Second Best
Healthcare Medical
$1.20M
$1.05M – $1.40M
NOI $84,148 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,554 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Nala's Corner — 72374 Ramon Rd, Thousand Palms, CA 92276
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical and professional suites with an owner-user vacancy and four leased spaces generating income.
Where is this medical office space located?
The property is located at 100-35280 Bob Hope Dr Rancho Mirage, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 8,276 SF medical/professional building with six suites; Four leased suites provide income; one 2,500 SF suite is vacant; Abundant parking for the multi‑suite property
