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

    74883 Velie Way Palm Desert, CA 92260

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Flex space in Cook Street Business Area, move-in ready.

    Lot size:
    0.51 Acres

    Property Features for 74883 Velie Way

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.51 Acres

    Building Details

    Year built
    1978

    We can help!

    Listing Contact
    Susan Harvey
    Source: Elliman

    Listing Agent: Susan Harvey

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

    Learn more

    Overview

    Palm Desert Flex Space Available

    This property, situated in the Cook Street Business Area, offers a flex space suitable for commercial real estate purposes. The space includes 1,600 square feet of office area, one loading bay with a covered area, and two restrooms. It also features six truck-sized parking spaces and two new HVAC mini splits. The property is move-in ready and provides easy access to I-10 and Highway 111. The location benefits from ample parking and is surrounded by businesses such as Caliber Collision, Consolidated Electrical Distributors, Cam Stone's Automotive, Empire Window Tint, and Leo's Mirror & Glass. Showings are by appointment only, requiring a 48-hour notice.
    Location Intelligence

    Current Use by Public Records

    Palms to Pines Towing Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    Sodexo

    Location Insight

    • Map
    • Local Demand
    City
    Palm Desert
    County
    Riverside
    State
    California
    Longitude
    -116.3574975
    Latitude
    33.7421302

    Nearby Similar for Lease

    • New
      $12,000 /Mo
      22,215 SF

      Palm Desert Commercial Space Available

      Move-in ready commercial space in the heart of Palm Desert.
      74883 Velie Way, Palm Desert, CA 92260
      View Details
    • $3,400 /Mo
      2,231 SF

      Palm Desert Commercial Flex Space

      Multi-use space with offices and roll-up door garage.
      73700 Dinah Shore Dr, Palm Desert, CA 92211
      View Details
    • $1,700 /Mo
      1,200 SF

      Palm Desert Commercial Space Available

      Air-conditioned warehouse/industrial space for lease in Palm Desert, CA.
      39402 Berkey Dr, Palm Desert, CA 92211
      View Details
    • $1.75 SF/Yr

      Dinah Shore Drive Retail Showroom

      Retail showroom with frontage on Dinah Shore Drive.
      73800 Dinah Shore Dr, Palm Desert, CA 92211
      View Details
    • $2 SF/Yr

      Medical Office Space Available

      Dental office space for rent in Bristol Farms Shopping Center.
      73091 Country Club Dr, Palm Desert, CA 92260
      View Details
    • $1.25 SF/Yr

      Turnkey Office Suite in Palm Desert

      Professionally built-out office suite in Country Club Corporate Plaza.
      77530 Enfield Ln, Palm Desert, CA 92211
      View Details
    • $2.00 SF/Yr

      El Paseo Retail Space

      Two-story retail suite in El Paseo shopping district.
      73151 El Paseo, Palm Desert, CA 92260
      View Details
    • $1.95 SF/Yr

      Turn-Key Restaurant Opportunity

      High-end restaurant space available in prestigious Palm Desert location.
      74225 Highway 111, Palm Desert, CA 92260
      View Details
    • $2.00 SF/Yr

      Palm Desert Retail Opportunity

      Retail space available in a busy Palm Desert location.
      73910 Highway 111, Palm Desert, CA 92260
      View Details
    • $3 SF/Yr

      El Paseo Office Space

      Office space for lease or sale on El Paseo.
      73350 El Paseo, Palm Desert, CA 92260
      View Details
    • $2 SF/Yr

      El Paseo Retail/Office Space

      Prime location on El Paseo, Palm Desert.
      73180 El Paseo, Palm Desert, CA 92260
      View Details
    • $1.35 SF/Yr

      Palm Desert Office Suite Rental

      First-level office suite in high-visibility Palm Desert location.
      78000 Fred Waring Dr, Palm Desert, CA 92211
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space in Cook Street Business Area, move-in ready.
    Where is this flex space located?
    The property is located at 74883 Velie Way Palm Desert, CA.
    What are key features of this property?
    This property features: - Move-in ready 1,600 SF office space.; - Convenient location in the heart of Cook Street Business Area with easy access to I-10 & Hwy 111.; - Includes one loading bay with covered area and ample parking (six truck sized spaces).
    Request Owner's contact information
    74883 Velie Way Palm Desert, CA 92260
    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.
    74883 Velie Way
    Palm Desert, CA 92260
    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
    74883 Velie Way Palm Desert, CA 92260
    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
    Susan Harvey
    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!