Upgraded Banning Home/Business
402 E Ramsey Banning, CA 92220
For Sale
$469,900
Upgraded home or business near Banning Downtown Court House.
Property Size1,505 SF
Price / SF$312.23
Days on Market98
Property Features for 402 E Ramsey
General Information
Standard status
Active
Size
1,505 SF
Property subtype
Commercial
Building Details
Year Built
1954
Listing Agency:
Sunset Homes realty
(951) 634-4833
Listed By:
Jose Martinez · License #01422430
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 6:19AM
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 Sunset Homes realty
Investment Insights
Based on property information with market context.
Located in Banning Downtown, near the Court House, this upgraded property offers potential as either a home or a business. The building features 1,505 square feet of space, including two bedrooms and 1.5 bathrooms. Interior upgrades include newer carpet, ceramic tile, and laminated flooring, along with updated lights. The property also benefits from a newer roof and updated plumbing. Additional features include a concrete driveway and an enclosed breezeway. The small kitchen is equipped with a granite countertop. The backyard includes an 8 x 12 storage shed. The property is located in an area that is somewhat bikeable with a bike score of 39, and car-dependent with a walk score of 20. Conversion to commercial use may be possible, subject to verification with the City of Banning.
Key Highlights
- Upgraded home suitable for residential or commercial use (buyer to verify commercial use with the City of Banning).
- Conveniently located in Banning Downtown, close to the Court House.
- Features newer carpet, ceramic tile, and laminated flooring.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.5k | $22.92 |
| − Vacancy | −$3.0k | −$1.97 |
| EGI | $31.5k | $20.95 |
| − OpEx | −$7.9k | −$5.24 |
| NOI | $23.6k | $15.71 |
1,505 SF · lease $22.92/SF/yr · vacancy 8.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$337.8K
$295.6K – $394.1K
NOI $23,646 @ 7.0% cap · market cap 5.03%
Second Best
Mixed Use
$199.1K
$174.3K – $232.3K
NOI $13,940 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$450.9K
$394.5K – $526.0K
NOI $31,561 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Upgraded home or business near Banning Downtown Court House.
Where is this live-work space located?
The property is located at 402 E Ramsey Banning, CA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Upgraded home suitable for residential or commercial use (buyer to verify commercial use with the City of Banning).; Conveniently located in Banning Downtown, close to the Court House.; Features newer carpet, ceramic tile, and laminated flooring.
