Palm Springs Office
For Sale
$425,000
189 S Civic Drive, Palm Springs, CA 92262
COMMERCIAL - Palm Springs, CA
Property Size1,200 SF
Lot Size0.03 Acres
Price / SF$354.17
Days on Market269
Property Features for 189 S Civic Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
332 - Palm Springs Central
Standard status
Active
APN
502220005
Size
1,200 SF
Lot size
0.03 Acres
Utilities
Heating system
Central
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Roof type
Composition
Listing Agency:
Equity Union
(760) 621-0395
Listed By:
Campbell Crane Team · License #01303904
(760) 408-1876
Added: Dec 4, 2025
Changed: Aug 4
Last Checked: Aug 30 at 7:06AM
MLS# 219140001
Copyright © 2026 California Desert Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story office space features a small galley kitchen and a bathroom. It includes front and rear exits. The layout comprises a small reception area just inside the front door, an open, larger space with ample windows, and an additional space in the rear suitable for file cabinets and storage. The property is part of the Palm Springs Professional Park, with HOA fees of $400 per month. The property is located in Palm Springs, CA 92262, Riverside County. The lot size is 0.0271 acres, and the property size is 1200 square feet.
Key Highlights
- Single‑story office space.
- Open layout with lots of windows.
- Front and rear exits.
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
$18,854
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
4.44%
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%
$377,080
$377.1K
Cap Rate 7%
$269,343
$269.3K
Cap Rate 9%
$209,489
$209.5K
Market Conditions
NOI Build-Up for 1,200 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
$27.5K $22.92/SF
− Vacancy
−$2.4K −$1.97/SF
EGI
$25.1K $20.95/SF
− OpEx
−$6.3K −$5.24/SF
NOI
$18.9K $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%
$377,080
Cap Rate 7%
$269,343
Cap Rate 9%
$209,489
Alternative Uses
Best Use
Office B
$269.3K
$235.7K – $314.2K
NOI $18,854 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.5K
$314.6K – $419.4K
NOI $25,165 @ 7.0% cap · market cap 5.92%
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 - Single-story office space in Palm Springs Professional Park.
Where is this office units located?
The property is located at 189 S Civic Drive Palm Springs, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Single‑story office space.; Open layout with lots of windows.; Front and rear exits.
