Two Buildings in Opportunity
For Sale
$875,000
68361 Kieley, Cathedral City, CA 92234
Two commercial buildings with multiple bays, ideal for automotive use.
Property Size6,400 SF
Price / SF$145.83
Days on Market135
Property Features for 68361 Kieley
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Industrial
Building Details
Building Size
6,400 SF
Year Built
1980
Listing Agency:
Heath Michael Hilgenberg
Listed By:
Alan Sarrail · License #01837253
(760) 601-3000
Source:
Elliman
Added: Apr 24
Changed: Aug 26
Last Checked: Sep 4 at 1:47PM
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 Heath Michael Hilgenberg
Investment Insights
Based on property information with market context.
Located in an Opportunity Zone, this property features two separate buildings, each exceeding 3,000 square feet. Currently operating as an auto repair business and a separate paint shop, each building includes three bays, bathrooms, an office, and a reception area. The property offers ample parking and storage space. The bike score is 6, indicating it is somewhat bikeable, while the walk score is 16, suggesting car dependence. The transit score is 30, indicating some transit options are available.
Key Highlights
- Located in an Opportunity Zone.
- Two separate buildings included in the sale.
- Each building is over 3,000 sqft.
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
$49,271
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
5.63%
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%
$985,420
$985.4K
Cap Rate 7%
$703,871
$703.9K
Cap Rate 9%
$547,456
$547.5K
Market Conditions
NOI Build-Up for 6,000 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
$74.9K $12.48/SF
− Vacancy
−$4.5K −$0.75/SF
EGI
$70.4K $11.73/SF
− OpEx
−$21.1K −$3.52/SF
NOI
$49.3K $8.21/SF
Area
Riverside County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
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%
$985,420
Cap Rate 7%
$703,871
Cap Rate 9%
$547,456
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.43M
NOI $86,003 @ 7.0% cap · market cap 9.83%
Second Best
Industrial
$703.9K
$615.9K – $821.2K
NOI $49,271 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,825 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
52k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 14%
Home Improvements & Furnishings 5%
Hotels & Casinos 4%
AMPM
Shops & Services
10,853 visits/mo
0.5 miles
Toyota of the Desert
Shops & Services
7,435 visits/mo
0.4 miles
ARCO
Shops & Services
7,261 visits/mo
0.5 miles
Taco Bell
Dining
7,194 visits/mo
0.4 miles
Quick Quack Car Wash
Shops & Services
4,596 visits/mo
0.4 miles
Demographics for 92234, CA
51,509
Population
23,114
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
3,480
Density / Sq Mi
$67,031
Median Household Income
$34,895
Median Earnings
$1,554
Median Rent
$420,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Palm Springs Lincoln Collision — 69 200 CA-111, Cathedral City, CA 92234
- Palm Springs Lincoln Service — 69 200 CA-111, Cathedral City, CA 92234
- Gonzalez General Auto Repair — 68365 Commercial Rd, Cathedral City, CA 92234
- J&E Auto Body & Paint — 36839 Bankside Dr, Cathedral City, CA 92234
- IA Prep + Design — 36777 Sunair Plaza, Cathedral City, CA 92234
Frequently Asked Questions
What type of property is this?
Auto shop - Two commercial buildings with multiple bays, ideal for automotive use.
Where is this auto shop located?
The property is located at 68361 Kieley Cathedral City, CA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Located in an Opportunity Zone.; Two separate buildings included in the sale.; Each building is over 3,000 sqft.
