Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    116 W Ramsey St Banning, CA 92220

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,250,000

    Iconic Chinese restaurant for sale in historic downtown Banning.

    Property size:
    3,026 SF
    Lot size:
    0.10 Acres

    Property Features for 116 W Ramsey St

    General Information

    Standard status
    Active
    Size
    3,026 SF
    Lot size
    0.10 Acres

    Building Details

    Year built
    1936

    We can help!

    Listing Contact
    Benjamin Escalera
    Benjamin Escalera
    Source: Exitrealty

    Listing Agency: Berkshire Hathaway Homeservices California Realty Listing Agent: Benjamin Escalera

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic Downtown Banning Restaurant Opportunity

    An established Chinese food restaurant is available for purchase in the heart of historic downtown Banning. The restaurant has been a local fixture for over 37 years. The property is situated within walking distance of City Hall, the Courthouse, the Police Department, shops, and other restaurants, benefiting from high visibility and significant vehicle and foot traffic. The location is slated to be the epicenter of the New Downtown Revitalization Project, with construction scheduled to begin soon. The commercial building, spanning approximately 4000 sq ft, includes dining and kitchen areas. The kitchen is equipped with appliances, including a wash station, storage room, walk-in freezer, and prep station. A strategically placed sign enhances visibility. The dining area features booths, tables, and chairs. With over five decades of operation, the restaurant has a reputation for serving Chinese cuisine. The property offers versatility for continued use as a Chinese restaurant or the introduction of a new culinary concept. The property size is 3026 square feet.
    Location Intelligence

    Current Use by Public Records

    Wing's Garden Cafe Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Banning
    County
    Riverside
    State
    California
    Longitude
    -116.8780781
    Latitude
    33.9252164

    Nearby Similar for Sale

    • $625,000
      900 SF

      High-Traffic Commercial Property Near I-10

      900 sqft commercial building with C2 zoning near I-10.
      3724 W Ramsey St, Banning, CA 92220
      View Details
    • $488,000
      2,400 SF

      Downtown Banning Commercial Opportunity

      Versatile commercial building in the heart of downtown Banning.
      170 W Ramsey St, Banning, CA 92220
      View Details
    • $999,999
      658,627.00 Acres

      Banning Ranch with Panoramic Views

      15+ acre ranch featuring updated homes and animal facilities.
      11055 Sunset Ave, Banning, CA 92220
      View Details
    • $275,000
      819 SF

      Unique Caboose and Depot Building

      Eye-catching corner property with redevelopment potential in downtown Banning.
      614 W Ramsey St, Banning, CA 92220
      View Details
    • $750,000

      Banning Commercial Property For Sale

      Commercial property with business and rental potential in Banning.
      422 E Ramsey St, Banning, CA 92220
      View Details
    • $488,000

      Downtown Banning Commercial Opportunity

      Versatile building in downtown Banning suitable for various business ventures.
      170 W Ramsey St, Banning, CA 92220
      View Details
    • $625,000

      High-Traffic Commercial Property For Sale

      900 sq ft commercial building with C2 zoning.
      3724 W Ramsey St, Banning, CA 92220
      View Details
    • $750,000

      Banning Commercial Property For Sale

      Commercial property with two units and multiple offices for sale.
      422 E Ramsey St, Banning, CA 92220
      View Details
    • $220,000

      Downtown Banning Office/Showroom Opportunity

      Office or showroom space in downtown Banning with parking.
      1115 W Ramsey St, Banning, CA 92220
      View Details
    • $699,000

      Six-Unit Multifamily Investment Opportunity

      Value-add multifamily property with significant income upside potential.
      545 N 2Nd St, Banning, CA 92220
      View Details
    • $599,000

      Income-Generating Triplex with Garage Parking

      Triplex with renovated unit, garage parking, great investment opportunity!
      546 N 5Th St, Banning, CA 92220
      View Details
    • Contact for pricing

      Former Bank with Drive Thru

      6,620 SF free standing building with drive thru.
      1374 West Ramsey St, Banning, CA 92220
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Iconic Chinese restaurant for sale in historic downtown Banning.
    Where is this conventional restaurant located?
    The property is located at 116 W Ramsey St Banning, CA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Prime location in the heart of Historic Downtown Banning with high visibility and heavy foot/vehicle traffic.; - Epicenter location for the upcoming New Downtown Revitalization Project.; - Well-established restaurant with a 37+ year operating history and strong community reputation.
    (909) 273-6020
    Request Owner's contact information
    116 W Ramsey St Banning, CA 92220
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 W Ramsey St
    Banning, CA 92220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 W Ramsey St Banning, CA 92220
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Benjamin Escalera
    Benjamin Escalera
    Real Estate License ID: 01753823
    (909) 273-6020 (323) 620-4274 (909) 307-0616
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!