Professional Office
For Sale
$1,700,000
264 N Highland Springs Unit 4, Banning, CA 92220
Professional Office zoning, central air, and forced-air heating support a dedicated office environment.
Property Size6,757 SF
Price / SF$251.59
Days on Market75
Property Features for 264 N Highland Springs Unit 4
General Information
Standard status
Active
Size
6,757 SF
Building Details
Year Built
1992
Listing Agency:
Pay It Forward Realty
Listed By:
Brad Petersen · License #01724042
(714) 855-8184
Source:
Myfabuloushome
Added: Aug 11
Changed: Oct 2
Last Checked: Oct 7 at 5:14PM
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 Pay It Forward Realty
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Investment Insights
Based on property information with market context.
This office property was constructed in 1992 and carries Professional Office zoning. Interior systems include central air and forced-air heating, while wrought-iron elements provide a defined exterior feature.
Access is from the 10 Freeway via the Highland Springs exit, followed by northbound travel on Highland Springs. The property is positioned north of Ramsey Street, with Walgreens identified on the right side along the approach. The asset is located in Riverside County at 264 N Highland Springs 4, Banning, California 92220.
Access is from the 10 Freeway via the Highland Springs exit, followed by northbound travel on Highland Springs. The property is positioned north of Ramsey Street, with Walgreens identified on the right side along the approach. The asset is located in Riverside County at 264 N Highland Springs 4, Banning, California 92220.
Key Highlights
- Professional Office zoning
- Constructed in 1992
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,164
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,123,280
$2.1M
Cap Rate 7%
$1,516,629
$1.5M
Cap Rate 9%
$1,179,600
$1.2M
Market Conditions
NOI Build-Up for 6,757 SF
Gross rent
$154.9K $22.92/SF
− Vacancy
−$13.3K −$1.97/SF
EGI
$141.6K $20.95/SF
− OpEx
−$35.4K −$5.24/SF
NOI
$106.2K $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%
$2,123,280
Cap Rate 7%
$1,516,629
Cap Rate 9%
$1,179,600
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,164 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,700 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Professional Office zoning, central air, and forced-air heating support a dedicated office environment.
Where is this office building located?
The property is located at 264 N Highland Springs Unit 4 Banning, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Professional Office zoning; Constructed in 1992; Central air conditioning
