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    Thousand Palms Retail Building Opportunity Title is generated by Realmo AI

    72885 E Ramon Rd, Thousand Palms, CA 92276

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    3,240 SF retail building on 0.69 AC lot.

    Type:Retail
    Property size:
    3,240 SF
    Lot size:
    0.69 Acres
    Price / SF:
    $293/SF
    Added:
    Aug 17, 2023
    Days on Market:
    1023
    Last Refresh:
    May 12 at 9:25 pm

    Property Features for 72885 E Ramon Rd

    General Information

    Standard status
    Active
    Size
    3,240 SF
    Lot size
    0.69 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1991

    We can help!

    Listing Contact
    Matt Hardke
    Matt Hardke

    Listing agent Matt Hardke License #CA 01946266

    Listing office Graystone Capital Advisors

    Listing date Aug 17, 2023

    Source Crexi

    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 Graystone Capital Advisors

    HighLights

    • High‑visibility corner location at Ramon Rd and Arbol Real Ave, near the busy intersection of Ramon and Monterey, with direct access to I‑10 Freeway (106,000 VPD).
    • Zoned MU (Mixed‑use) allowing for a variety of retail uses and potential for future multifamily development.
    • Located in a rapidly growing retail corridor surrounded by popular retailers including Agua Caliente Resort Casino, Costco, Sam’s Club, Walmart, and Home Depot.
    • Strong demographics with 17,387 people and an average household income of $101,414 within a 3‑mile radius, with 24.33% population growth since 2010.
    • 3,240 SF retail building on a 0.69 AC lot.
    • Former Rabobank building.

    Overview

    The property at 72885 Ramon Rd in Thousand Palms, CA, presents an opportunity to purchase a 3,240 SF retail building situated on an approximately 0.69 AC lot. Formerly a Rabobank, the building is zoned MU (Mixed-use), which allows for a variety of retail uses and potential for future multifamily development. The property benefits from high visibility at the corner of Ramon Rd and Arbol Real Ave, near the intersection of Ramon and Monterey, with direct access to the I-10 Freeway (106,000 VPD). The location benefits from a strong and growing population of 17,387 people within a 3-mile radius, with an average household income of $101,414 and a growth rate of 24.33% since 2010. The property is located within a rapidly growing retail corridor and is surrounded by retailers including Agua Caliente Resort Casino, Costco, Sam’s Club, Walmart, Home Depot, In-n-Out, Chick-fil-A, Del Taco, Starbucks, Shell, Arco, and Chevron.
    Property Profile Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Thousand Palms
    County
    Riverside
    State
    California
    Longitude
    -116.3900145
    Latitude
    33.8161194

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    FAQs

    What type of property is this?
    Bank - 3,240 SF retail building on 0.69 AC lot.
    Where is this bank located?
    The property is located at 72885 E Ramon Rd Thousand Palms, CA.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: High‑visibility corner location at Ramon Rd and Arbol Real Ave, near the busy intersection of Ramon and Monterey, with direct access to I‑10 Freeway (106,000 VPD).; Zoned MU (Mixed‑use) allowing for a variety of retail uses and potential for future multifamily development.; Located in a rapidly growing retail corridor surrounded by popular retailers including Agua Caliente Resort Casino, Costco, Sam’s Club, Walmart, and Home Depot.
    (951) 818-8188 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matt Hardke
    Matt Hardke
    Real Estate License ID: CA 01946266
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    72885 E Ramon Rd, Thousand Palms, CA 92276
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