Unique Caboose and Depot
614 W Ramsey Street Banning, CA 92220
For Sale
$275,000
Eye-catching corner property with redevelopment potential in downtown Banning.
Property Size819 SF
Lot Size0.21 Acres
Price / SF$335.78
Days on Market729
Property Features for 614 W Ramsey Street
General Information
Standard status
Active
Size
819 SF
Lot size
0.21 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1974
Listing Agency:
Mountain View Associates Real Estate
(909) 224-4298
Listed By:
MIKKI BLOOMER · License #00876920
(909) 224-4298
Source:
Exitrealty
Added: Jul 31, 2024
Changed: Jul 10
Last Checked: Jul 29 at 7:02AM
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 Mountain View Associates Real Estate
Investment Insights
Based on property information with market context.
This unique property, featuring a caboose (circa 1974) and an adjacent "train station depot" style building (circa 1979-1980), offers frontage on the main thoroughfare and corner access. Located in downtown Banning, the 819 square foot property presents opportunities for revitalization. The property appears to have ample parking (City of Banning verification necessary). Potential uses include a coffee shop, deli, office, or retail shop.
Key Highlights
- High‑visibility location with frontage on the main thoroughfare.
- Corner lot provides additional access.
- Unique "train station depot" style building with a Caboose.
Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.7k | $21.60 |
| − Vacancy | −$920 | −$1.12 |
| EGI | $16.8k | $20.48 |
| − OpEx | −$5.0k | −$6.14 |
| NOI | $11.7k | $14.33 |
819 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$167.7K
$146.7K – $195.7K
NOI $11,739 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.4K
$214.7K – $286.3K
NOI $17,175 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Polly's Petals Floral Shop — 66 s san gorgonio ave, banning, ca 92220
Frequently Asked Questions
What type of property is this?
Storefront property - Eye-catching corner property with redevelopment potential in downtown Banning.
Where is this storefront property located?
The property is located at 614 W Ramsey Street Banning, CA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: High‑visibility location with frontage on the main thoroughfare.; Corner lot provides additional access.; Unique "train station depot" style building with a Caboose.
