Multi-Tenant Medical Office
73993 Hwy 111 Palm Desert, CA 92260
For Sale
$2,950,000
Multi-tenant medical and professional facility with covered parking and strong highway-corner visibility.
Property Size9,506 SF
Price / SF$310.33
Days on Market139
Property Features for 73993 Hwy 111
General Information
Standard status
Active
Size
9,506 SF
Property subtype
General Commercial
Building Details
Year Built
2000
Listing Agency:
(760) 360-8200
Listed By:
Desert Pacific Properties
Source:
Xome
Added: Mar 13
Changed: Jul 10
Last Checked: Jun 14 at 1:36AM
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.
This well-maintained, 9,506 SF multi-tenant commercial building is designed for medical and professional use. The property includes a 6,000 SF lower level that is covered under a month-to-month master lease, creating an owner-user setup while the remaining space operates with on-site tenants. Covered parking supports day-to-day patient and client access, and the building’s visibility is supported by prominent signage.
The building is located on a signalized corner at Highway 111 and Portola Ave in Palm Desert. The property benefits from high traffic exposure with an average of 54,071 cars per day, and it is positioned near El Paseo, the Coachella Valley’s retail and dining destination with a range of well-known retailers and restaurants.
For buyers and owner-users, the combination of an income-producing lower level on a flexible month-to-month basis and additional tenant occupancy on the upper level can align well with users looking for a medical or professional headquarters with established tenancy and practical parking support. Please note that tenants are not to be disturbed; contact the listing office for additional details.
The building is located on a signalized corner at Highway 111 and Portola Ave in Palm Desert. The property benefits from high traffic exposure with an average of 54,071 cars per day, and it is positioned near El Paseo, the Coachella Valley’s retail and dining destination with a range of well-known retailers and restaurants.
For buyers and owner-users, the combination of an income-producing lower level on a flexible month-to-month basis and additional tenant occupancy on the upper level can align well with users looking for a medical or professional headquarters with established tenancy and practical parking support. Please note that tenants are not to be disturbed; contact the listing office for additional details.
Key Highlights
- 9,506 SF multi‑tenant commercial building designed for medical/professional use
- Built in 2000
- Signalized corner location at Highway 111 and Portola Ave with 54,071 average cars per day
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $217.9k | $22.92 |
| − Vacancy | −$18.7k | −$1.97 |
| EGI | $199.1k | $20.95 |
| − OpEx | −$49.8k | −$5.24 |
| NOI | $149.4k | $15.71 |
9,506 SF · lease $22.92/SF/yr · vacancy 8.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.13M
$1.87M – $2.49M
NOI $149,355 @ 7.0% cap · market cap 5.06%
Second Best
Healthcare Medical
$1.38M
$1.21M – $1.61M
NOI $96,654 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,349 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant medical and professional facility with covered parking and strong highway-corner visibility.
Where is this office building located?
The property is located at 73993 Hwy 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: 9,506 SF multi‑tenant commercial building designed for medical/professional use; Built in 2000; Signalized corner location at Highway 111 and Portola Ave with 54,071 average cars per day
