Medical Office Building Near
For Sale
$3,400,000
81863 Doctor Carreon Boulevard, Indio, CA 92201
Fully leased medical office condos near JFK Memorial Hospital.
Property Size10,657 SF
Price / SF$319.04
Days on Market269
Property Features for 81863 Doctor Carreon Boulevard
General Information
Standard status
Active
Size
10,657 SF
Class
B
Property subtype
Office
Building Details
Building Size
10,657 SF
Year Built
1980
Listing Agency:
(760) 505-7395
Listed By:
Arthur Holland
(760) 505-7395
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 20
Last Checked: Aug 22 at 4:13AM
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 Arthur Holland
Investment Insights
Based on property information with market context.
This property consists of five medical/office condos in a free-standing building, fully leased to JFK Memorial Hospital. The tenant has been in place since the 1980s, with the current owner for over 18 years. The property is part of an HOA campus of four medical/office buildings located next to JFK Memorial Hospital. JFK is planning a $50-$60 million renovation and expansion of its main entrance, emergency room, power plant, a new street entrance, and parking facilities. The building has a total size of 10657 square feet.
Key Highlights
- 100% leased to JFK Memorial Hospital, providing immediate and stable income.
- Long‑term tenant (JFK Memorial Hospital) since the 1980s, indicating reliability.
- Located on an HOA campus of four medical/office buildings adjacent to JFK Memorial Hospital, offering synergy and convenience.
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
$167,439
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
4.92%
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%
$3,348,780
$3.3M
Cap Rate 7%
$2,391,986
$2.4M
Cap Rate 9%
$1,860,433
$1.9M
Market Conditions
NOI Build-Up for 10,657 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
$244.3K $22.92/SF
− Vacancy
−$21.0K −$1.97/SF
EGI
$223.3K $20.95/SF
− OpEx
−$55.8K −$5.24/SF
NOI
$167.4K $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%
$3,348,780
Cap Rate 7%
$2,391,986
Cap Rate 9%
$1,860,433
Alternative Uses
Best Use
Office B
$2.39M
$2.09M – $2.79M
NOI $167,439 @ 7.0% cap · market cap 4.92%
Second Best
Healthcare Medical
$1.55M
$1.35M – $1.81M
NOI $108,357 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,486 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92201, CA
66,989
Population
26,241
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
16.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$66,663
Median Household Income
$35,527
Median Earnings
$1,349
Median Rent
$372,800
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.
Similar Off Market Nearby
- Dr. Joshua T. Clark, MD — 47111 Monroe St, Indio, CA 92201
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office condos near JFK Memorial Hospital.
Where is this medical office space located?
The property is located at 81863 Doctor Carreon Boulevard Indio, CA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 100% leased to JFK Memorial Hospital, providing immediate and stable income.; Long‑term tenant (JFK Memorial Hospital) since the 1980s, indicating reliability.; Located on an HOA campus of four medical/office buildings adjacent to JFK Memorial Hospital, offering synergy and convenience.
