Five-Unit Downtown Mixed-Use
For Sale
$769,000
89 N San Gorgonio Avenue, Banning, CA 92220
Commercial Sale, Banning, CA
Property Size3,600 SF
Lot Size0.14 Acres
Price / SF$213.61
Days on Market53
Property Features for 89 N San Gorgonio Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
DC
Directions
I-10 Freeway Exit 8th Street Right onto Ramsey Ave, Left onto San Gorgonio. Property is on the Left.
Subdivision
263 - Banning/Beaumont/Cherry Valley
Standard status
Active
APN
540168003
Lot size
0.14 Acres
Additional Details
Tenant in Place
Yes
Mixed-Use Components
retail, office, residential
Utilities
Cooling system
Central Air
Amenities
drought tolerant landscaping
distinctive wall mural
Building Details
Year built
1964
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY
(909) 793-2100
Listed By:
Teri Alvarez · License #01498790
(909) 330-8123
Added: Sep 13
Changed: Nov 2
Last Checked: Nov 4 at 2:06AM
MLS# IG26202415
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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.
At 89 N. San Gorgonio Avenue, this downtown mixed-use property includes a freestanding 3,600-square-foot building divided into five units and an adjoining parcel. The 6,097-square-foot site totals 0.14 acres. Central air serves the building, which dates to 1964, and zoning is designated DC.
The unit mix includes a candy shop, barber shop, engineering office, vacant office or retail suite, and a second-floor studio apartment. Occupancy is month-to-month, with one suite currently vacant. The adjoining parcel has drought-tolerant landscaping and a wall mural. The property sits among civic, retail, dining, and service businesses in downtown Banning.
The unit mix includes a candy shop, barber shop, engineering office, vacant office or retail suite, and a second-floor studio apartment. Occupancy is month-to-month, with one suite currently vacant. The adjoining parcel has drought-tolerant landscaping and a wall mural. The property sits among civic, retail, dining, and service businesses in downtown Banning.
Key Highlights
- Five units in a freestanding commercial building
- 3,600‑square‑foot building on a 6,097‑square‑foot, 0.14‑acre site
- Retail, personal service, office, and studio apartment uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,602
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,040
$1.0M
Cap Rate 7%
$737,171
$737.2K
Cap Rate 9%
$573,356
$573.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$77.8K $21.60/SF
− Vacancy
−$4.0K −$1.12/SF
EGI
$73.7K $20.48/SF
− OpEx
−$22.1K −$6.14/SF
NOI
$51.6K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,040
Cap Rate 7%
$737,171
Cap Rate 9%
$573,356
Alternative Uses
Best Use
Retail
$737.2K
$645.0K – $860.0K
NOI $51,602 @ 7.0% cap · market cap 6.71%
Second Best
Mixed Use
$476.4K
$416.8K – $555.8K
NOI $33,345 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.08M
$943.7K – $1.26M
NOI $75,495 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
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Business Placement
Demographics for 92220, CA
32,947
Population
13,258
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
82%
High-School Grad
141.3 sq mi
ZIP Area
233
Density / Sq Mi
$59,116
Median Household Income
$35,428
Median Earnings
$1,499
Median Rent
$324,800
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A mix of storefront, office, and residential spaces is arranged across a freestanding commercial building and adjoining parcel.
Where is this mixed-use property located?
The property is located at 89 N San Gorgonio Avenue Banning, CA.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Five units in a freestanding commercial building; 3,600‑square‑foot building on a 6,097‑square‑foot, 0.14‑acre site; Retail, personal service, office, and studio apartment uses
