Craftsman Office
New
For Sale
$349,000
1025 W Ramsey, Banning, CA 92220
Professional office property with a full front porch, rear studio apartment, and detached storage shed.
Property Size1,216 SF
Days on Market2
Property Features for 1025 W Ramsey
General Information
Standard status
Active
Size
1,216 SF
Property subtype
Commercial
Building Details
Building Size
1,216 SF
Year Built
1949
Construction
Craftsman
Listing Agency:
Better Homes & Gardens R.E. Oak Valley
Listed By:
PETER TRIPP · License #00877128
(951) 692-0860
Source:
Elliman
Added: Sep 5
Last Checked: Sep 5 at 3:29PM
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 Better Homes & Gardens R.E. Oak Valley
Investment Insights
Based on property information with market context.
This 1949 office building features classic Craftsman architecture and a full-width front porch. The property was previously used for professional office purposes and includes a low-maintenance frontage with desert-style landscaping.
A studio apartment and separate storage shed are positioned at the rear of the property. The address is in Banning, California, with a Walk Score of 47 and a Bike Score of 38.
A studio apartment and separate storage shed are positioned at the rear of the property. The address is in Banning, California, with a Walk Score of 47 and a Bike Score of 38.
Key Highlights
- 1949 construction with classic Craftsman architectural character
- Previously used as professional office space
- Full front porch at the building entrance
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
$19,105
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
5.47%
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%
$382,100
$382.1K
Cap Rate 7%
$272,929
$272.9K
Cap Rate 9%
$212,278
$212.3K
Market Conditions
NOI Build-Up for 1,216 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
$27.9K $22.92/SF
− Vacancy
−$2.4K −$1.97/SF
EGI
$25.5K $20.95/SF
− OpEx
−$6.4K −$5.24/SF
NOI
$19.1K $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%
$382,100
Cap Rate 7%
$272,929
Cap Rate 9%
$212,278
Alternative Uses
Best Use
Office B
$272.9K
$238.8K – $318.4K
NOI $19,105 @ 7.0% cap · market cap 5.47%
Second Best
Mixed Use
$160.9K
$140.8K – $187.7K
NOI $11,263 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$364.3K
$318.8K – $425.0K
NOI $25,501 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
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?
Office building - Professional office property with a full front porch, rear studio apartment, and detached storage shed.
Where is this office building located?
The property is located at 1025 W Ramsey Banning, CA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1949 construction with classic Craftsman architectural character; Previously used as professional office space; Full front porch at the building entrance
