Retail Shopping Center For
For Sale
$1,495,000
635 E Ramsey, Banning, CA 92220
9,000 SF retail shopping center with high traffic.
Property Size9,000 SF
Lot Size0.84 Acres
Price / SF$166.11
Days on Market154
Property Features for 635 E Ramsey
General Information
Standard status
Active
Size
9,000 SF
Lot size
0.84 Acres
Property subtype
Commercial
Building Details
Building Size
9,000 SF
Year Built
1960
Listing Agency:
Better Homes & Gardens R.E. Oak Valley
Listed By:
PETER TRIPP · License #00877128
(951) 692-0860
Source:
Elliman
Added: Apr 3
Changed: Sep 3
Last Checked: Sep 1 at 9:15PM
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 Better Homes & Gardens R.E. Oak Valley
Investment Insights
Based on property information with market context.
This retail shopping center features approximately 9,000 square feet of space, divided into four units. The property is situated on 0.84 acres and has 250 feet of frontage. Located on E. Ramsey St., the property benefits from a good daily traffic count. It is located two blocks from the Superior Court of California, County of Riverside. The property includes parking in both the front and rear of the building. Banning is noted as one of the fastest-growing cities in California.
Key Highlights
- Four‑unit retail shopping center with approximately 9,000 sq ft.
- High daily traffic count on E. Ramsey St.
- Located two blocks from the Superior Court of California, County of Riverside.
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
$129,004
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
8.63%
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%
$2,580,080
$2.6M
Cap Rate 7%
$1,842,914
$1.8M
Cap Rate 9%
$1,433,378
$1.4M
Market Conditions
NOI Build-Up for 9,000 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
$194.4K $21.60/SF
− Vacancy
−$10.1K −$1.12/SF
EGI
$184.3K $20.48/SF
− OpEx
−$55.3K −$6.14/SF
NOI
$129.0K $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%
$2,580,080
Cap Rate 7%
$1,842,914
Cap Rate 9%
$1,433,378
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $129,004 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,737 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92220, CA
32,947
Population
13,258
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
82%
High-School Grad
141.3 sq mi
ZIP Area
233
Density / Sq Mi
$59,116
Median Household Income
$35,428
Median Earnings
$1,499
Median Rent
$324,800
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?
Shopping center - 9,000 SF retail shopping center with high traffic.
Where is this shopping center located?
The property is located at 635 E Ramsey Banning, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Four‑unit retail shopping center with approximately 9,000 sq ft.; High daily traffic count on E. Ramsey St.; Located two blocks from the Superior Court of California, County of Riverside.
