Renovated Two-Suite
For Sale
$1,294,000
32475 Date Palm Dr, Cathedral City, CA 92234
COMMERCIAL - Cathedral City, CA
Property Size6,560 SF
Lot Size0.41 Acres
Price / SF$197.26
Days on Market525
Property Features for 32475 Date Palm Dr
General Information
Property type
Commercial Sale
Property subtype
Retail
Lot features
Landscaped, Landscaped
Subdivision
336 - Cathedral City South
Standard status
Active
APN
680292027
Size
6,560 SF
Lot size
0.41 Acres
Building Details
Year built
1991
Floors in Building
2
Number of units
2
Listing Agency:
Desert Pacific Properties
(760) 360-8200
Listed By:
Susan Harvey · License #00957590
(760) 360-8200
Added: Mar 11, 2025
Changed: Aug 4
Last Checked: Aug 17 at 7:06AM
MLS# 219126308
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 6,560-square-foot storefront property contains two suites within a building constructed in 1991. Both suites were renovated in 2026 and are configured to support multiple uses, including retail and medical office occupancy. The layout allows an owner-user to occupy part of the building while leasing the balance, or use the full property. The building is also suited to a single occupant seeking a larger retail or office setting.
The property is located at 32475 Date Palm Dr in Cathedral City, along Date Palm Drive, a major commercial route. Reported traffic volume is 50,351 cars per day. I-10 and Highway 111 provide regional access, while Palm Springs International Airport is less than 4 miles away. The site encompasses 0.41 acres in Riverside County.
The property is located at 32475 Date Palm Dr in Cathedral City, along Date Palm Drive, a major commercial route. Reported traffic volume is 50,351 cars per day. I-10 and Highway 111 provide regional access, while Palm Springs International Airport is less than 4 miles away. The site encompasses 0.41 acres in Riverside County.
Key Highlights
- 6,560‑square‑foot retail building with two suites
- Both suites renovated in 2026 for multiple uses
- 0.41‑acre site at 32475 Date Palm Dr, Cathedral City
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
$94,029
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
7.27%
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%
$1,880,580
$1.9M
Cap Rate 7%
$1,343,271
$1.3M
Cap Rate 9%
$1,044,767
$1.0M
Market Conditions
NOI Build-Up for 6,560 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
$141.7K $21.60/SF
− Vacancy
−$7.4K −$1.12/SF
EGI
$134.3K $20.48/SF
− OpEx
−$40.3K −$6.14/SF
NOI
$94.0K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,880,580
Cap Rate 7%
$1,343,271
Cap Rate 9%
$1,044,767
Alternative Uses
Best Use
Retail
$1.34M
$1.18M – $1.57M
NOI $94,029 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,569 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
50,351 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
41k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 14%
Hotels & Casinos 7%
Home Improvements & Furnishings 5%
AMPM
Shops & Services
10,853 visits/mo
0.4 miles
ARCO
Shops & Services
7,261 visits/mo
0.4 miles
Denny's
Dining
5,877 visits/mo
0.2 miles
U.S. Bank
Shops & Services
4,298 visits/mo
0.4 miles
Palm Springs Ford
Shops & Services
3,961 visits/mo
0.4 miles
Demographics for 92234, CA
51,509
Population
23,114
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
3,480
Density / Sq Mi
$67,031
Median Household Income
$34,895
Median Earnings
$1,554
Median Rent
$420,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible retail property with two renovated suites along a major commercial corridor near regional highways and the airport.
Where is this storefront property located?
The property is located at 32475 Date Palm Dr Cathedral City, CA.
What is the asking price?
The asking price for this property is $1,294,000.
What are key features of this property?
This property features: 6,560‑square‑foot retail building with two suites; Both suites renovated in 2026 for multiple uses; 0.41‑acre site at 32475 Date Palm Dr, Cathedral City
