NNN
For Sale
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500 South Indian Canyon Drive, Palm Springs, CA 92264
C1-zoned commercial property built in 1959.
Property Size8,214 SF
Price / SF$462.39
Days on Market82
Property Features for 500 South Indian Canyon Drive
General Information
Standard status
Active
Size
8,214 SF
Property subtype
Retail, Land
Zoning
C1
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$255,885
Building Details
Year Built
1959
Tenancy
Single
Listing Agency:
CBRE - Orange County
(949) 725-8625
Listed By:
Jay Gomez · License #CA 01364065
Source:
Crexi
Added: Jun 9
Changed: Aug 29
Last Checked: Aug 29 at 5:15PM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
This commercial property encompasses 8,214 square feet and was constructed in 1959. The asset carries C1 zoning and is located at 500 South Indian Canyon Drive in Palm Springs, California.
Key Highlights
- 8,214‑square‑foot commercial property
- C1 zoning
- Constructed in 1959
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
$117,738
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
3.10%
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%
$2,354,760
$2.4M
Cap Rate 7%
$1,681,971
$1.7M
Cap Rate 9%
$1,308,200
$1.3M
Market Conditions
NOI Build-Up for 8,214 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
$177.4K $21.60/SF
− Vacancy
−$9.2K −$1.12/SF
EGI
$168.2K $20.48/SF
− OpEx
−$50.5K −$6.14/SF
NOI
$117.7K $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%
$2,354,760
Cap Rate 7%
$1,681,971
Cap Rate 9%
$1,308,200
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,738 @ 7.0% cap · market cap 3.10%
Second Best
Specialty Retail
$1.48M
$1.29M – $1.73M
NOI $103,570 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,254 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 92264, CA
19,254
Population
17,518
Households
1.1
Avg Household Size
61
Median Age
48%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
378
Density / Sq Mi
$75,246
Median Household Income
$46,756
Median Earnings
$1,581
Median Rent
$498,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - C1-zoned commercial property built in 1959.
Where is this nnn property located?
The property is located at 500 South Indian Canyon Drive Palm Springs, CA.
What is the asking price?
The asking price for this property is $3,798,083.
What are key features of this property?
This property features: 8,214‑square‑foot commercial property; C1 zoning; Constructed in 1959
