Mid-Century Modern Retail
For Sale
$2,199,900
72067 Hwy 111, Rancho Mirage, CA 92270
Retail/commercial suite includes four offices, lobby/showroom, and three restrooms plus a kitchenette/breakroom.
Property Size4,587 SF
Price / SF$479.59
Days on Market450
Property Features for 72067 Hwy 111
General Information
Standard status
Active
Size
4,587 SF
Property subtype
Office
Site & Location
Traffic Count
78,733 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
lobby/showroom
kitchenette/breakroom
3
Building Details
Year Built
1974
Construction
mid-century modern
Listing Agency:
(760) 360-8200
Listed By:
Desert Pacific Properties
Source:
Xome
Added: Jun 15, 2025
Changed: Sep 1
Last Checked: Sep 7 at 5:34AM
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 Desert Pacific Properties
Investment Insights
Based on property information with market context.
Iconic mid-century modern commercial property on a major retail corridor, offered for sale or lease. The available retail/commercial space totals 4,587 SF and is configured with four offices, a lobby/showroom area, three restrooms, and a kitchenette/breakroom. The building features floor-to-ceiling windows and a grand staircase, with designer finishes throughout.
The property is located on Highway 111 in Rancho Mirage, with easy access to surrounding Desert Cities. The public remarks note average daily traffic of 78,733 cars per day along the corridor.
As described, the offering includes extensive tenant improvements that may support a builder or designer use, while maintaining a retail/commercial presentation with dedicated office and support areas.
The property is located on Highway 111 in Rancho Mirage, with easy access to surrounding Desert Cities. The public remarks note average daily traffic of 78,733 cars per day along the corridor.
As described, the offering includes extensive tenant improvements that may support a builder or designer use, while maintaining a retail/commercial presentation with dedicated office and support areas.
Key Highlights
- 4,587 SF retail/commercial space with four offices, lobby/showroom, and three restrooms
- Includes a kitchenette/breakroom and 3 guest facilities
- Mid‑century modern architectural design with grand staircase and floor‑to‑ceiling windows
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
$72,069
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
3.28%
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%
$1,441,380
$1.4M
Cap Rate 7%
$1,029,557
$1.0M
Cap Rate 9%
$800,767
$800.8K
Market Conditions
NOI Build-Up for 4,587 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
$105.1K $22.92/SF
− Vacancy
−$9.0K −$1.97/SF
EGI
$96.1K $20.95/SF
− OpEx
−$24.0K −$5.24/SF
NOI
$72.1K $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%
$1,441,380
Cap Rate 7%
$1,029,557
Cap Rate 9%
$800,767
Alternative Uses
Best Use
Office B
$1.03M
$900.9K – $1.20M
NOI $72,069 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,193 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
78,733 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Retail/commercial suite includes four offices, lobby/showroom, and three restrooms plus a kitchenette/breakroom.
Where is this office building located?
The property is located at 72067 Hwy 111 Rancho Mirage, CA.
What is the asking price?
The asking price for this property is $2,199,900.
What are key features of this property?
This property features: 4,587 SF retail/commercial space with four offices, lobby/showroom, and three restrooms; Includes a kitchenette/breakroom and 3 guest facilities; Mid‑century modern architectural design with grand staircase and floor‑to‑ceiling windows
