Corner Retail
For Sale
$1,650,000
11940 Palm Drive, Desert Hot Springs, CA 92240
The storefront fronts Palm Drive and Pierson Boulevard in the downtown commercial district.
Property Size5,328 SF
Price / SF$309.68
Days on Market18
Property Features for 11940 Palm Drive
General Information
Standard status
Active
Size
5,328 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Year Built
1985
Building Size
5,328 SF
Listing Agency:
FC Group Realty
Listed By:
Caroline Jepsen · License #01357574
(951) 970-3180
Source:
Fcgrouprealty
Added: Oct 7
Changed: Oct 24
Last Checked: Oct 23 at 5:23PM
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 FC Group Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail space contains +/- 5,328 SF and was built in 1985. A mural designed by TRAV adds a distinctive exterior feature. The property is positioned at the corner of Palm Drive and Pierson Boulevard in the Desert Hot Springs downtown commercial district.
The building has over 100 Ft of frontage along Palm Drive, identified as a main city corridor. Access is available from all directions. Retail, office, and service uses are noted for the space.
The building has over 100 Ft of frontage along Palm Drive, identified as a main city corridor. Access is available from all directions. Retail, office, and service uses are noted for the space.
Key Highlights
- +/- 5,328 SF building
- Corner location at Palm Drive and Pierson Boulevard
- Over 100 Ft of Palm Drive frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,370
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,527,400
$1.5M
Cap Rate 7%
$1,091,000
$1.1M
Cap Rate 9%
$848,556
$848.6K
Market Conditions
NOI Build-Up for 5,328 SF
Gross rent
$115.1K $21.60/SF
− Vacancy
−$6.0K −$1.12/SF
EGI
$109.1K $20.48/SF
− OpEx
−$32.7K −$6.14/SF
NOI
$76.4K $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 Rate 5%
$1,527,400
Cap Rate 7%
$1,091,000
Cap Rate 9%
$848,556
Alternative Uses
Best Use
Retail
$1.09M
$954.6K – $1.27M
NOI $76,370 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,733 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
ARCO
Shops & Services
12,944 visits/mo
0.4 miles
Dollar General
Shops & Services
9,108 visits/mo
0.3 miles
AutoZone
Shops & Services
6,916 visits/mo
0.4 miles
AMPM
Shops & Services
5,773 visits/mo
0.5 miles
Spectrum
Shops & Services
2,042 visits/mo
0.1 miles
Demographics for 92240, CA
40,920
Population
15,977
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
78%
High-School Grad
35.7 sq mi
ZIP Area
1,146
Density / Sq Mi
$51,284
Median Household Income
$32,137
Median Earnings
$1,367
Median Rent
$294,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - The storefront fronts Palm Drive and Pierson Boulevard in the downtown commercial district.
Where is this retail space located?
The property is located at 11940 Palm Drive Desert Hot Springs, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: +/- 5,328 SF building; Corner location at Palm Drive and Pierson Boulevard; Over 100 Ft of Palm Drive frontage
