Commercial Property with Freeway
For Sale
$1,350,000
2772 W Ramsey St, Banning, CA 92220
2,800 SF commercial property on 1.3 acres with I-10 access.
Property Size2,800 SF
Lot Size1.30 Acres
Price / SF$482.14
Days on Market167
Property Features for 2772 W Ramsey St
General Information
Standard status
Active
Size
2,800 SF
Lot size
1.30 Acres
Property subtype
Industrial
Building Details
Building Size
2,800 SF
Year Built
1945
Listing Agency:
REAL ESTATE SOURCE, INC.
(916) 307-3444
Listed By:
Vanessa Rojas
Source:
Elliman
Added: Mar 11
Changed: Aug 17
Last Checked: Aug 24 at 8:25AM
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 REAL ESTATE SOURCE, INC.
Investment Insights
Based on property information with market context.
Located at 2772 W Ramsey St in Banning, this commercial property offers 2,800 SF of space on approximately 1.3 acres, which is equivalent to 56,628 SF. The property benefits from freeway visibility from the I-10, making it suitable for a freeway business visibility sign, and provides convenient access to the I-10. The lot features newly poured concrete and a heavy-duty industrial fence in the front. There are three buildings and a storage shed located on the lot. The property is zoned HSC (High-way Servicing Commercial), making it suitable for automotive, retail, office, warehouse, or mixed-use businesses. Buyers are advised to verify permitted uses with the City of Banning.
Key Highlights
- Freeway visibility from I‑10 for business signage.
- Approximately 1.3 acres (56,628 SF) of land.
- HSC (Highway Servicing Commercial) Zoning allows for diverse business uses (automotive, retail, office, warehouse, mixed‑use).
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
$43,993
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
3.26%
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%
$879,860
$879.9K
Cap Rate 7%
$628,471
$628.5K
Cap Rate 9%
$488,811
$488.8K
Market Conditions
NOI Build-Up for 2,800 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
$64.2K $22.92/SF
− Vacancy
−$5.5K −$1.97/SF
EGI
$58.7K $20.95/SF
− OpEx
−$14.7K −$5.24/SF
NOI
$44.0K $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%
$879,860
Cap Rate 7%
$628,471
Cap Rate 9%
$488,811
Alternative Uses
Best Use
Office B
$628.5K
$549.9K – $733.2K
NOI $43,993 @ 7.0% cap · market cap 3.26%
Second Best
Retail
$573.4K
$501.7K – $668.9K
NOI $40,135 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$838.8K
$734.0K – $978.6K
NOI $58,718 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 92220, CA
32,947
Population
13,258
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
82%
High-School Grad
141.3 sq mi
ZIP Area
233
Density / Sq Mi
$59,116
Median Household Income
$35,428
Median Earnings
$1,499
Median Rent
$324,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 2,800 SF commercial property on 1.3 acres with I-10 access.
Where is this commercial land located?
The property is located at 2772 W Ramsey St Banning, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Freeway visibility from I‑10 **for business signage.**; Approximately 1.3 acres (56,628 SF) of land.; HSC (Highway Servicing Commercial) Zoning allows for diverse business uses (automotive, retail, office, warehouse, mixed‑use).
