Freestanding Retail Building with
For Sale
$906,000
947 W Ramsey St, Banning, CA 92220
Freestanding retail building with high-visibility Interstate 10 access and 14 on-site parking spaces.
Property Size4,116 SF
Lot Size0.32 Acres
Price / SF$220.12
Days on Market112
Property Features for 947 W Ramsey St
General Information
Standard status
Active
Size
4,116 SF
Total Parking Spaces
14
Lot size
0.32 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
4,116 SF
Year Built
1950
Listing Agency:
NAI Capital - Ontario
Listed By:
Lidia Talavera · License #CalDRE #01407598
(909) 762-5489
Source:
Naiglobal
Added: May 17
Changed: Aug 8
Last Checked: Sep 5 at 4:58AM
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 NAI Capital - Ontario
Investment Insights
Based on property information with market context.
Freestanding commercial retail property totaling approximately 4,116 SF on a roughly 13,939 SF site. The building offers high-visibility frontage and has the flexibility to be demised into up to three units, supporting owner-user or multi-tenant configurations.
The property is positioned in Banning with easy access to Interstate 10. It is adjacent to Subway and located near Rite Aid, Western Dental, Jack in the Box, and IHOP, providing a strong concentration of everyday retail and service uses in the surrounding area.
Ample on-site parking includes 14 spaces, accommodating retail, office, or service use operations consistent with the property’s existing setup.
The property is positioned in Banning with easy access to Interstate 10. It is adjacent to Subway and located near Rite Aid, Western Dental, Jack in the Box, and IHOP, providing a strong concentration of everyday retail and service uses in the surrounding area.
Ample on-site parking includes 14 spaces, accommodating retail, office, or service use operations consistent with the property’s existing setup.
Key Highlights
- Freestanding commercial property built in 1950 at 947 W. Ramsey St.
- Approx. 4,116 SF retail building on a 13,939 SF lot with high‑visibility frontage.
- Easy access to Interstate 10, with consistent driving traffic.
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
$58,998
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
6.51%
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%
$1,179,960
$1.2M
Cap Rate 7%
$842,829
$842.8K
Cap Rate 9%
$655,533
$655.5K
Market Conditions
NOI Build-Up for 4,116 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
$88.9K $21.60/SF
− Vacancy
−$4.6K −$1.12/SF
EGI
$84.3K $20.48/SF
− OpEx
−$25.3K −$6.14/SF
NOI
$59.0K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /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%
$1,179,960
Cap Rate 7%
$842,829
Cap Rate 9%
$655,533
Alternative Uses
Best Use
Retail
$842.8K
$737.5K – $983.3K
NOI $58,998 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,316 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Under-served
Demand for This Use
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Banning Balloons & Blooms — 2024 w ramsey st, banning, ca 92220
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail building with high-visibility Interstate 10 access and 14 on-site parking spaces.
Where is this storefront property located?
The property is located at 947 W Ramsey St Banning, CA.
What is the asking price?
The asking price for this property is $906,000.
What are key features of this property?
This property features: Freestanding commercial property built in 1950 at 947 W. Ramsey St.; Approx. 4,116 SF retail building on a 13,939 SF lot with high‑visibility frontage.; Easy access to Interstate 10, with consistent driving traffic.
