Multi-Tenant Office
New
For Sale
$2,950,000
73993 CA-111, Palm Desert, CA 92260
Commercial Sale, Palm Desert, CA
Property Size9,790 SF
Lot Size0.27 Acres
Price / SF$301.33
Days on Market5
Property Features for 73993 CA-111
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Lot features
Landscaped, Landscaped
Subdivision
323 - Palm Desert South
Standard status
Active
APN
627222058
Size
9,790 SF
Lot size
0.27 Acres
Utilities
Heating system
Central
Building Details
Year built
2000
Listing Agency:
Desert Pacific Properties
Listed By:
Susan Harvey
(760) 360-8200
Added: Oct 21
Changed: Oct 22
Last Checked: Oct 25 at 11:06AM
MLS# 219154804
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.
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Investment Insights
Based on property information with market context.
Built in 2000, this 9,790-square-foot office property has space on two levels. The 6,000-square-foot lower level is leased under a month-to-month master lease, while tenants occupy the second level. Central heating and covered on-site parking are included.
The building occupies the signal-controlled corner of CA-111 and Portola Avenue in Palm Desert. The intersection records an average of 54,071 cars per day. El Paseo, a shopping and dining destination with retailers including Gucci, Apple, and Louis Vuitton, is nearby. The parcel measures 0.27 acres.
The building occupies the signal-controlled corner of CA-111 and Portola Avenue in Palm Desert. The intersection records an average of 54,071 cars per day. El Paseo, a shopping and dining destination with retailers including Gucci, Apple, and Louis Vuitton, is nearby. The parcel measures 0.27 acres.
Key Highlights
- 9,790‑square‑foot, multi‑tenant office building
- 6,000‑square‑foot lower level under a month‑to‑month master lease
- At the signalized corner of CA‑111 and Portola Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,817
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,076,340
$3.1M
Cap Rate 7%
$2,197,386
$2.2M
Cap Rate 9%
$1,709,078
$1.7M
Market Conditions
NOI Build-Up for 9,790 SF
Gross rent
$224.4K $22.92/SF
− Vacancy
−$19.3K −$1.97/SF
EGI
$205.1K $20.95/SF
− OpEx
−$51.3K −$5.24/SF
NOI
$153.8K $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 Rate 5%
$3,076,340
Cap Rate 7%
$2,197,386
Cap Rate 9%
$1,709,078
Alternative Uses
Best Use
Office B
$2.20M
$1.92M – $2.56M
NOI $153,817 @ 7.0% cap · market cap 5.21%
Second Best
Healthcare Medical
$1.42M
$1.24M – $1.66M
NOI $99,542 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,304 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 92260, CA
31,641
Population
21,659
Households
1.5
Avg Household Size
57
Median Age
38%
College-Educated
92%
High-School Grad
31.3 sq mi
ZIP Area
1,011
Density / Sq Mi
$72,252
Median Household Income
$41,810
Median Earnings
$1,654
Median Rent
$463,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-level property with covered on-site parking and a lower floor subject to a month-to-month master lease.
Where is this office building located?
The property is located at 73993 CA-111 Palm Desert, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 9,790‑square‑foot, multi‑tenant office building; 6,000‑square‑foot lower level under a month‑to‑month master lease; At the signalized corner of CA‑111 and Portola Avenue
