Mid-Century Office Retail
For Sale
$2,199,900
72067 Hwy 111, Rancho Mirage, CA 92270
COMMERCIAL - Rancho Mirage, CA
Property Size4,587 SF
Lot Size0.23 Acres
Price / SF$479.59
Days on Market403
Property Features for 72067 Hwy 111
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Open, Assigned, Parking Lot, On Street
Lot features
Landscaped, Landscaped
Subdivision
321 - Rancho Mirage
Standard status
Active
APN
682350001
Size
4,587 SF
Lot size
0.23 Acres
Utilities
Heating system
Central, Baseboard
Amenities
grand staircase
lobby/showroom
kitchenette/breakroom
Building Details
Year built
1974
Floors in Building
2
Listing Agency:
Desert Pacific Properties
(760) 360-8200
Listed By:
Susan Harvey · License #00957590
(760) 360-8200
Added: Jul 11, 2025
Changed: Aug 4
Last Checked: Aug 17 at 6:06AM
MLS# 219132603
Copyright © 2026 California Desert Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mid-century modern commercial building offers a mix of office and retail functionality, including four offices, a lobby/showroom area, three restrooms, and a kitchenette/breakroom. Notable architectural features include a grand staircase and floor-to-ceiling windows, along with designer finishes throughout.
The property is located on Highway 111 in Rancho Mirage, with reported average daily traffic of 78,733 cars per day. It is positioned in the heart of the Coachella Valley with easy access to nearby Desert Cities, and it is described as being close to the River Rancho Mirage, a dining, entertainment, and retail center.
Extensive tenant improvements are noted as beneficial for a builder/designer use. Appointment only—do not go direct; call or text Emily Harvey for access.
The property is located on Highway 111 in Rancho Mirage, with reported average daily traffic of 78,733 cars per day. It is positioned in the heart of the Coachella Valley with easy access to nearby Desert Cities, and it is described as being close to the River Rancho Mirage, a dining, entertainment, and retail center.
Extensive tenant improvements are noted as beneficial for a builder/designer use. Appointment only—do not go direct; call or text Emily Harvey for access.
Key Highlights
- 4,587 SF retail/commercial building with four offices, lobby/showroom, three restrooms, and kitchenette/breakroom
- Mid‑century modern building with a grand staircase and floor‑to‑ceiling windows
- Located on Highway 111 in Rancho Mirage with an average of 78,733 cars per day
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office retail space with four offices, lobby/showroom, and floor-to-ceiling windows on Highway 111.
Where is this office units 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 building with four offices, lobby/showroom, three restrooms, and kitchenette/breakroom; Mid‑century modern building with a grand staircase and floor‑to‑ceiling windows; Located on Highway 111 in Rancho Mirage with an average of 78,733 cars per day
