Industrial Building with
For Sale
$3,789,000
72203 Adelaid Street, Thousand Palms, CA 92276
Single-tenant industrial facility with warehouse space, two-level offices, roll-up doors, fenced yard, and substantial electrical capacity.
Property Size18,652 SF
Lot Size1.15 Acres
Price / SF$203.14
Days on Market238
Property Features for 72203 Adelaid Street
General Information
Standard status
Active
Size
18,652 SF
Total Parking Spaces
41
Lot size
1.15 Acres
Property subtype
General Commercial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
24 ft
Heavy Power
Yes
Sprinkler System
Yes
Amenities
professional reception area
multiple private offices
conference and collaboration areas
kitchen and kitchenette spaces
storage rooms
multiple restrooms
covered balcony
3
Building Details
Year Built
2008
Tenancy
Single
Listing Agency:
Equity Union Commercial
(760) 621-0395
Listed By:
Equity Union · License #0147142
Source:
Xome
Added: Dec 28, 2025
Changed: Aug 23
Last Checked: Jul 23 at 8:08AM
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 Equity Union Commercial
Investment Insights
Based on property information with market context.
This single-tenant industrial building totals approximately 18,652 square feet on a 1.15-acre lot, combining warehouse/shop space with office areas across two levels. The warehouse component is supported by near 24-foot clear height, fire sprinklers, and six 14-foot roll-up doors, along with eight evaporative coolers for operational comfort. The office portion includes a reception area, multiple private offices, conference and collaboration space, kitchen and kitchenette areas, storage rooms, and multiple restrooms. A second-level office includes executive office space and a covered balcony, with portions that may be unfinished and suitable for future expansion or customization.
The property includes a private fenced yard and supports efficient site circulation with approximately 41 on-site parking spaces, plus site layout intended to accommodate outdoor storage or staging. Electrical service is approximately 750 AMP, 3-phase power split between three separate meters with IID service.
Overall, the building is designed to support a broad range of industrial, service, or owner-user operations, with functional loading, office infrastructure, and room to adapt or expand.
The property includes a private fenced yard and supports efficient site circulation with approximately 41 on-site parking spaces, plus site layout intended to accommodate outdoor storage or staging. Electrical service is approximately 750 AMP, 3-phase power split between three separate meters with IID service.
Overall, the building is designed to support a broad range of industrial, service, or owner-user operations, with functional loading, office infrastructure, and room to adapt or expand.
Key Highlights
- Single‑tenant industrial building built in 2008 with approx. 18,652 SF on a 1.15‑acre lot
- Warehouse/shop space approx. 11,794 SF with near 24‑ft clear height and six 14‑ft roll‑up doors
- Two‑level office space approx. 6,858 SF with reception, private offices, conference/collaboration areas, kitchen, storage, and multiple restrooms
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
$293,054
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
7.73%
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%
$5,861,080
$5.9M
Cap Rate 7%
$4,186,486
$4.2M
Cap Rate 9%
$3,256,156
$3.3M
Market Conditions
NOI Build-Up for 18,652 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
$427.5K $22.92/SF
− Vacancy
−$36.8K −$1.97/SF
EGI
$390.7K $20.95/SF
− OpEx
−$97.7K −$5.24/SF
NOI
$293.1K $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%
$5,861,080
Cap Rate 7%
$4,186,486
Cap Rate 9%
$3,256,156
Alternative Uses
Best Use
Office B
$4.19M
$3.66M – $4.88M
NOI $293,054 @ 7.0% cap · market cap 7.73%
Second Best
Warehouse
$2.66M
$2.32M – $3.10M
NOI $185,989 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,148 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
Single-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92276, CA
7,953
Population
3,757
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
86%
High-School Grad
37.0 sq mi
ZIP Area
215
Density / Sq Mi
$80,280
Median Household Income
$35,124
Median Earnings
$1,432
Median Rent
$260,500
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?
Flex space - Single-tenant industrial facility with warehouse space, two-level offices, roll-up doors, fenced yard, and substantial electrical capacity.
Where is this flex space located?
The property is located at 72203 Adelaid Street Thousand Palms, CA.
What is the asking price?
The asking price for this property is $3,789,000.
What are key features of this property?
This property features: Single‑tenant industrial building built in 2008 with approx. 18,652 SF on a 1.15‑acre lot; Warehouse/shop space approx. 11,794 SF with near 24‑ft clear height and six 14‑ft roll‑up doors; Two‑level office space approx. 6,858 SF with reception, private offices, conference/collaboration areas, kitchen, storage, and multiple restrooms
