Freeway Adjacent Cold Storage
For Sale
$4,950,000
2642-2648 W Ramsey St., Banning, CA 92220
41,000 SF warehouse with cold storage near I-10.
Property Size43,700 SF
Price / SF$120.73
Days on Market335
Property Features for 2642-2648 W Ramsey St.
General Information
Standard status
Active
Size
43,700 SF
Property subtype
Industrial
Building Details
Building Size
43,700 SF
Listing Agency:
Lee & Associates
Listed By:
Rick Lazar · License #CalDRE #00549349
(951) 276-3652
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Oct 25
Last Checked: Oct 26 at 1:37PM
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 Lee & Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features three buildings totaling 41,000 square feet, including 18,000 square feet of cold storage, situated on 4.53 acres of land. It has heavy power, with 1000 amps, 3 phase, and 4 wire. The property is adjacent to the I-10 Freeway and in close proximity to the 22nd Street off-ramp. A large freeway visible pole sign is included. The property is equipped with a life safety fire sprinkler system. It is suitable for warehouse and industrial use.
Key Highlights
- 18,000 SF of Cold Storage
- 41,000 SF Total Across 3 Buildings on 4.53 Acres
- Heavy Power: 1000 Amps, 3 Phase, 4 Wire
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$408,832
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,176,640
$8.2M
Cap Rate 7%
$5,840,457
$5.8M
Cap Rate 9%
$4,542,578
$4.5M
Market Conditions
NOI Build-Up for 41,000 SF
Gross rent
$511.7K $12.48/SF
− Vacancy
−$30.7K −$0.75/SF
EGI
$481.0K $11.73/SF
− OpEx
−$72.1K −$1.76/SF
NOI
$408.8K $9.97/SF
Area
Riverside County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,176,640
Cap Rate 7%
$5,840,457
Cap Rate 9%
$4,542,578
Alternative Uses
Best Use
Warehouse
$5.84M
$5.11M – $6.81M
NOI $408,832 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$4.81M
$4.21M – $5.61M
NOI $336,685 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$12.28M
$10.75M – $14.33M
NOI $859,803 @ 7.0% cap · market cap 17.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Under-served
Demand for This Use
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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 Industrial in West region
Similar Off Market Nearby
- RightSpace Self Storage — 2909 W Lincoln St, Banning, CA 92220
- RightSpace Self Storage — 2822 W Ramsey St, Banning, CA 92220
- Storage Lockers — 2844 W Ramsey St, Banning, CA 92220
Frequently Asked Questions
What type of property is this?
Warehouse - 41,000 SF warehouse with cold storage near I-10.
Where is this warehouse located?
The property is located at 2642-2648 W Ramsey St. Banning, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 18,000 SF of Cold Storage; 41,000 SF Total Across 3 Buildings on 4.53 Acres; Heavy Power: 1000 Amps, 3 Phase, 4 Wire
