Two-Suite Retail
For Sale
$1,394,000
32475 Date Palm Dr, Cathedral City, CA 92234
Commercial Sale, Cathedral City, CA
Property Size6,560 SF
Lot Size0.41 Acres
Price / SF$212.50
Days on Market572
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) 250-8992
Added: Mar 11, 2025
Changed: Sep 29
Last Checked: Oct 3 at 11:06AM
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 SF retail property contains two suites on a 0.41-acre parcel. Built in 1991, the building’s suites were renovated in 2026 and can support retail or medical office use. The configuration allows an owner-user to occupy part of the property while leasing the balance, or use the full building.
The property fronts Date Palm Drive in Cathedral City, with access to I-10 and Highway 111. Reported traffic volume is 50,351 cars per day. Palm Springs International Airport is less than 4 miles away. The property is also located within an Opportunity Zone.
The property fronts Date Palm Drive in Cathedral City, with access to I-10 and Highway 111. Reported traffic volume is 50,351 cars per day. Palm Springs International Airport is less than 4 miles away. The property is also located within an Opportunity Zone.
Key Highlights
- 6,560 SF two‑suite retail building
- Both suites renovated in 2026
- 0.41‑acre parcel with a 1991 building
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
$103,068
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
7.39%
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%
$2,061,360
$2.1M
Cap Rate 7%
$1,472,400
$1.5M
Cap Rate 9%
$1,145,200
$1.1M
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
$150.4K $22.92/SF
− Vacancy
−$12.9K −$1.97/SF
EGI
$137.4K $20.95/SF
− OpEx
−$34.4K −$5.24/SF
NOI
$103.1K $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%
$2,061,360
Cap Rate 7%
$1,472,400
Cap Rate 9%
$1,145,200
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $103,068 @ 7.0% cap · market cap 7.39%
Second Best
Retail
$1.34M
$1.18M – $1.57M
NOI $94,029 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,569 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
50,351 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated dual-suite configuration supports retail, medical office, or owner-user occupancy.
Where is this retail space 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 $1,394,000.
What are key features of this property?
This property features: 6,560 SF two‑suite retail building; Both suites renovated in 2026; 0.41‑acre parcel with a 1991 building
