Corner Retail
For Sale
$1,650,000
11940 Palm Drive, Desert Hot Springs, CA 92240
Commercial Sale, Desert Hot Springs, CA
Property Size5,328 SF
Lot Size0.34 Acres
Price / SF$309.68
Days on Market247
Property Features for 11940 Palm Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
340 - Desert Hot Springs
Standard status
Active
APN
639293029
Size
5,328 SF
Lot size
0.34 Acres
Amenities
Mural Artwork
Building Details
Year built
1985
Listing Agency:
Desert Pacific Properties
(760) 360-8200
Listed By:
Paula Turner · License #00702492
(760) 578-6564
Added: Feb 4
Changed: Oct 7
Last Checked: Oct 9 at 1:06PM
MLS# 219153941
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.
Investment Insights
Based on property information with market context.
At 11940 Palm Drive, the retail building contains 5,328 square feet on a 0.34-acre parcel. Built in 1985, it features mural artwork designed by TRAV and has been identified for retail, office, or service use.
The property occupies the corner of Palm Drive and Pierson Boulevard in the downtown Desert Hot Springs commercial district. Palm Drive frontage exceeds 100 feet along the city’s main corridor. The intersection location provides access from multiple directions.
The property occupies the corner of Palm Drive and Pierson Boulevard in the downtown Desert Hot Springs commercial district. Palm Drive frontage exceeds 100 feet along the city’s main corridor. The intersection location provides access from multiple directions.
Key Highlights
- 5,328‑square‑foot retail building on a 0.34‑acre parcel
- Over 100 ft of frontage on Palm Dr
- Corner of Palm Dr and Pierson Blvd in downtown Desert Hot Springs
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.
Property Analytics
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Retail space - The 1985 building is identified for retail, office, or service use.
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‑square‑foot retail building on a 0.34‑acre parcel; Over 100 ft of frontage on Palm Dr; Corner of Palm Dr and Pierson Blvd in downtown Desert Hot Springs
