Palm Springs Multi-Use Office
For Sale
$1,950,000
140 North Luring Drive, Palm Springs, CA 92262
Modern office building in central Palm Springs with mountain views.
Property Size9,850 SF
Days on Market225
Property Features for 140 North Luring Drive
General Information
Standard status
Active
Size
9,850 SF
Class
B
Property subtype
Office
Building Details
Building Size
9,850 SF
Listing Agency:
Coldwell Banker Commercial Lyle & Associates
Listed By:
Rob Wenthold · License #CalDRE #01153834
(760) 641-7602
Source:
Cbclyle
Added: Mar 5
Changed: Oct 15
Last Checked: Oct 16 at 7:11AM
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 Coldwell Banker Commercial Lyle & Associates
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Investment Insights
Based on property information with market context.
Located in central Palm Springs, with accessibility from E. Tahquitz Canyon Way or N. Sunrise Way, the multi-use office building at 140 N. Luring Drive has undergone renovations in recent years. The building provides private covered parking and mountain views. Situated on the east side of N. Luring Drive, between E. Tahquitz Canyon Way and E. Andreas Road, the property is positioned between downtown Palm Springs and the International Airport. The building is suitable for an owner/user seeking to occupy a portion of the building while generating income from the remaining suites.
Key Highlights
- Perfect owner/user plus investment opportunity
- Strategically located in Central Palm Springs with easy access to major roads
- Ample private covered parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,760
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,095,200
$3.1M
Cap Rate 7%
$2,210,857
$2.2M
Cap Rate 9%
$1,719,556
$1.7M
Market Conditions
NOI Build-Up for 9,850 SF
Gross rent
$225.8K $22.92/SF
− Vacancy
−$19.4K −$1.97/SF
EGI
$206.3K $20.95/SF
− OpEx
−$51.6K −$5.24/SF
NOI
$154.8K $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 Rate 5%
$3,095,200
Cap Rate 7%
$2,210,857
Cap Rate 9%
$1,719,556
Alternative Uses
Best Use
Office B
$2.21M
$1.93M – $2.58M
NOI $154,760 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,563 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
Explore this area
Business Placement
Demographics for 92262, CA
26,593
Population
19,940
Households
1.3
Avg Household Size
54
Median Age
42%
College-Educated
93%
High-School Grad
35.1 sq mi
ZIP Area
758
Density / Sq Mi
$70,514
Median Household Income
$42,940
Median Earnings
$1,420
Median Rent
$600,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Modern office building in central Palm Springs with mountain views.
Where is this office building located?
The property is located at 140 North Luring Drive Palm Springs, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Perfect owner/user plus investment opportunity; Strategically located in Central Palm Springs with easy access to major roads; Ample private covered parking
