Move-In Ready Medical Office
For Sale
$1,161,000
36951 Cook Street, Palm Desert, CA 92211
Fully improved medical suite in a preferred office park with easy freeway access for client servicing across the valley.
Property Size2,580 SF
Price / SF$450
Days on Market49
Property Features for 36951 Cook Street
General Information
Standard status
Active
Size
2,580 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
2,580 SF
Listing Agency:
(760) 346-2520
Listed By:
Maggie Montez · License #CalDRE #01070683
Source:
Lee-associates
Added: Jun 29
Changed: Aug 15
Last Checked: Aug 15 at 5:25AM
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 Maggie Montez
Investment Insights
Based on property information with market context.
This property is a 2,580 SF medical office condominium that is fully improved and available for immediate occupancy. The suite is described as move-in ready, making it suitable for medical practices looking for an expedited path to opening or relocating.
The condominium is located in a preferred office park and is positioned for straightforward client access, with easy freeway access intended to support serving clients valley-wide.
For healthcare operators, the built-out condition and medical-focused configuration provide a practical starting point for day-to-day use. The condominium format can also be appealing to buyers seeking ownership of a specific, move-in ready medical workspace within an office park setting.
The condominium is located in a preferred office park and is positioned for straightforward client access, with easy freeway access intended to support serving clients valley-wide.
For healthcare operators, the built-out condition and medical-focused configuration provide a practical starting point for day-to-day use. The condominium format can also be appealing to buyers seeking ownership of a specific, move-in ready medical workspace within an office park setting.
Key Highlights
- 2,580 SF fully improved medical office condominium suite
- Move‑in ready medical suite in a preferred office park
- Easy freeway access for serving clients valley‑wide
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
$40,536
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
3.49%
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%
$810,720
$810.7K
Cap Rate 7%
$579,086
$579.1K
Cap Rate 9%
$450,400
$450.4K
Market Conditions
NOI Build-Up for 2,580 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
$59.1K $22.92/SF
− Vacancy
−$5.1K −$1.97/SF
EGI
$54.0K $20.95/SF
− OpEx
−$13.5K −$5.24/SF
NOI
$40.5K $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%
$810,720
Cap Rate 7%
$579,086
Cap Rate 9%
$450,400
Alternative Uses
Best Use
Office B
$579.1K
$506.7K – $675.6K
NOI $40,536 @ 7.0% cap · market cap 3.49%
Second Best
Healthcare Medical
$374.8K
$327.9K – $437.2K
NOI $26,233 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$772.9K
$676.3K – $901.8K
NOI $54,105 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92211, CA
26,403
Population
20,152
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
94%
High-School Grad
14.8 sq mi
ZIP Area
1,784
Density / Sq Mi
$87,682
Median Household Income
$55,647
Median Earnings
$1,903
Median Rent
$535,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully improved medical suite in a preferred office park with easy freeway access for client servicing across the valley.
Where is this medical office space located?
The property is located at 36951 Cook Street Palm Desert, CA.
What is the asking price?
The asking price for this property is $1,161,000.
What are key features of this property?
This property features: 2,580 SF fully improved medical office condominium suite; Move‑in ready medical suite in a preferred office park; Easy freeway access for serving clients valley‑wide
