Single-Tenant Retail Education
For Sale
$9,499,000
34275 Monterey Ave Rancho, Rancho Mirage, CA 92270
C-C-zoned property with approved education use, NNN+CAM lease structure, and recent HVAC and roof work.
Property Size45,586 SF
Days on Market169
Property Features for 34275 Monterey Ave Rancho
General Information
Standard status
Active
Size
45,586 SF
Property subtype
Power Center
Zoning
C-C
Additional Details
Traffic Count
66,000 vehicles/day
Building Details
Building Size
45,586 SF
Year Built
2003
Tenancy
Single
Listing Agency:
eXp Commercial | Kentucky
(502) 640-3622
Listed By:
Sam Griffin, CCIM, CBI, NACREP · License ##207824
(502) 640-3622
Source:
Thebrokerlist
Added: Mar 16
Changed: Aug 30
Last Checked: Aug 30 at 8:35PM
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 eXp Commercial | Kentucky
Investment Insights
Based on property information with market context.
This 2003 retail property is a single-tenant building within the Monterey Marketplace power center. The space is currently occupied by San Joaquin Valley College, an accredited trade school, and carries C-C zoning with approval for educational use. The lease is structured as NNN+CAM, with the landlord responsible for the roof and structure.
The property benefits from exposure to more than 66,000 vehicles per day and sits next to Home Depot in Monterey Marketplace. Costco and Walmart are located across Monterey Avenue, with Disney Cotino also identified nearby. Recent capital work includes installation of a new HVAC system in 2022 and roof reconditioning completed in December 2025, backed by a 10-year warranty.
The property benefits from exposure to more than 66,000 vehicles per day and sits next to Home Depot in Monterey Marketplace. Costco and Walmart are located across Monterey Avenue, with Disney Cotino also identified nearby. Recent capital work includes installation of a new HVAC system in 2022 and roof reconditioning completed in December 2025, backed by a 10-year warranty.
Key Highlights
- Currently occupied by San Joaquin Valley College, an accredited trade school
- C‑C zoning with approved education use
- NNN+CAM lease structure; landlord responsibilities include roof and structure
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
$653,419
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
6.88%
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%
$13,068,380
$13.1M
Cap Rate 7%
$9,334,557
$9.3M
Cap Rate 9%
$7,260,211
$7.3M
Market Conditions
NOI Build-Up for 45,586 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
$984.7K $21.60/SF
− Vacancy
−$51.2K −$1.12/SF
EGI
$933.5K $20.48/SF
− OpEx
−$280.0K −$6.14/SF
NOI
$653.4K $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%
$13,068,380
Cap Rate 7%
$9,334,557
Cap Rate 9%
$7,260,211
Alternative Uses
Best Use
Retail
$9.33M
$8.17M – $10.89M
NOI $653,419 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.66M
$11.95M – $15.93M
NOI $955,976 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
66,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
371k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 65%
Shops & Services 12%
Apparel 11%
Dining 10%
Walmart
Superstores
138,823 visits/mo
0.4 miles
Sam's Club
Superstores
102,976 visits/mo
0.5 miles
Kohl's
Apparel
39,055 visits/mo
0.5 miles
Del Taco
Dining
15,222 visits/mo
0.3 miles
PetSmart
Shops & Services
12,967 visits/mo
0.4 miles
Demographics for 92270, CA
16,999
Population
14,936
Households
1.1
Avg Household Size
66
Median Age
47%
College-Educated
95%
High-School Grad
25.6 sq mi
ZIP Area
664
Density / Sq Mi
$109,943
Median Household Income
$60,084
Median Earnings
$1,575
Median Rent
$747,800
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?
Retail space - C-C-zoned property with approved education use, NNN+CAM lease structure, and recent HVAC and roof work.
Where is this retail space located?
The property is located at 34275 Monterey Ave Rancho Rancho Mirage, CA.
What is the asking price?
The asking price for this property is $9,499,000.
What are key features of this property?
This property features: Currently occupied by San Joaquin Valley College, an accredited trade school; C‑C zoning with approved education use; NNN+CAM lease structure; landlord responsibilities include roof and structure
