Commercial Condominium with Private
For Sale
$899,000
181 Civic Drive 1, Palm Springs, CA 92262
2,400 sq ft commercial condominium suitable for professional use.
Property Size2,400 SF
Price / SF$374.58
Days on Market225
Property Features for 181 Civic Drive 1
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1965
Listing Agency:
Equity Union
(760) 621-0395
Listed By:
Campbell Crane Team · License #01303904
(760) 408-1876
Source:
Exitrealty
Added: Jan 21
Changed: Sep 1
Last Checked: Sep 2 at 6:26PM
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 Equity Union
Investment Insights
Based on property information with market context.
This commercial condominium offers 2,400 square feet of space, featuring up to six private offices and a dedicated conference room. The functional layout is designed for professional use. It includes two bathrooms, one of which has a shower. A separate IT/copy room provides organized infrastructure and operational efficiency. The property is well-suited for professional services, medical, legal, tech, or creative office users. This is a turnkey opportunity for owner-users or investors in a well-maintained commercial building. The listing includes two units: 181 S. Civic Dr. #1 and 185 S Civic Dr. #2, each measuring 1,200 square feet, for a combined total of 2,400 square feet. The property is available furnished. The HOA fee is $400 per unit, totaling $800 per month. The bike score is 78, indicating it is very bikeable. The walk score is 61, indicating it is somewhat walkable. The transit score is 32, indicating some transit options are available.
Key Highlights
- Spacious 2,400 sq. ft Commercial Condominium
- Includes up to six private offices and a dedicated conference room
- Turnkey opportunity for owner‑user or investors
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
$37,708
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
4.19%
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%
$754,160
$754.2K
Cap Rate 7%
$538,686
$538.7K
Cap Rate 9%
$418,978
$419.0K
Market Conditions
NOI Build-Up for 2,400 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
$55.0K $22.92/SF
− Vacancy
−$4.7K −$1.97/SF
EGI
$50.3K $20.95/SF
− OpEx
−$12.6K −$5.24/SF
NOI
$37.7K $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%
$754,160
Cap Rate 7%
$538,686
Cap Rate 9%
$418,978
Alternative Uses
Best Use
Office B
$538.7K
$471.4K – $628.5K
NOI $37,708 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$719.0K
$629.1K – $838.8K
NOI $50,330 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
971
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
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 units - 2,400 sq ft commercial condominium suitable for professional use.
Where is this office units located?
The property is located at 181 Civic Drive 1 Palm Springs, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Spacious 2,400 sq. ft Commercial Condominium; Includes up to six private offices and a dedicated conference room; Turnkey opportunity for owner‑user or investors
