Palm Springs Modern Office
For Sale
$525,000
193 S Civic Dr # 6, Palm Springs, CA 92262
Remodeled office condo in prime Palm Springs location.
Property Size1,200 SF
Days on Market180
Property Features for 193 S Civic Dr # 6
General Information
Standard status
Active
Size
1,200 SF
Class
B
Property subtype
Office Condo
Building Details
Building Size
1,200 SF
Year Built
1965
Listing Agency:
Coldwell Banker Commercial Lyle & Associates
(760) 641-7602
Listed By:
Rob Wenthold · License #CalDRE #01153834
(760) 641-7602
Source:
Cbclyle
Added: Mar 5
Changed: Aug 27
Last Checked: Aug 31 at 1:15PM
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
Investment Insights
Based on property information with market context.
Located in Palm Springs, this office condominium, designed by architect Donald Wexler in 1960, is available for sale. The property is situated within walking distance of the P.S. International Airport, City Hall, Police Station, and Court House. The complex offers a tranquil setting, easy access, and private parking. Remodeled in 2008, the suite includes 4 private exterior window offices, one with a private restroom, 2 common area restrooms, a kitchenette, a reception/waiting area, and storage areas. The suite was previously utilized as individual therapist offices, with each room constructed with wall padding to muffle exterior noise and limit interior sound travel. Designer touches are present throughout this Class "A" office condo. The property is located on the west side of S. Civic Drive, between E. Tahquitz Canyon Way and E. Arenas Road. Leasing the individual offices could potentially provide income of $800 to $1,200 per office per month, making this a sound investment for any investor or owner/user.
Key Highlights
- Prime location within walking distance to Palm Springs International Airport, City Hall, Police Station, and Court House.
- Upscale, Class "A" office condo with designer touches throughout.
- Remodeled in 2008 with meticulous attention to detail.
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
3.59%
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 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.5K
$314.6K – $419.4K
NOI $25,165 @ 7.0% cap · market cap 4.79%
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 - Remodeled office condo in prime Palm Springs location.
Where is this office units located?
The property is located at 193 S Civic Dr # 6 Palm Springs, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Prime location within walking distance to Palm Springs International Airport, City Hall, Police Station, and Court House.; Upscale, Class "A" office condo with designer touches throughout.; Remodeled in 2008 with meticulous attention to detail.
