Medical Office
New
For Sale
$299,000
9041 Magnolia Ave 001, Riverside, CA 92503
Approximately 900 square feet in a medical building across from Parkview Hospital, with parking and ADA-accessible access.
Property Size20,000 SF
Price / SF$332.22
Days on Market2
Property Features for 9041 Magnolia Ave 001
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Commercial
Building Details
Building Size
20,000 SF
Year Built
1990
Listing Agency:
(949) 424-7736
Listed By:
Prem Anand
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 4:47AM
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 Prem Anand
Investment Insights
Based on property information with market context.
This medical office condominium contains approximately 900 square feet within an established medical building. The space is currently arranged as a professional office and features an open interior that can be reconfigured or converted for medical use. The condominium is in good condition and offers a flexible setting for a healthcare practice or other professional office use.
The building is directly across from Parkview Hospital and provides parking for patients and staff. ADA-accessible access is available. Built in 1990, the property is currently offered in its existing professional-office configuration, with permitted uses, zoning, HOA information, building requirements, and suitability subject to independent verification.
The building is directly across from Parkview Hospital and provides parking for patients and staff. ADA-accessible access is available. Built in 1990, the property is currently offered in its existing professional-office configuration, with permitted uses, zoning, HOA information, building requirements, and suitability subject to independent verification.
Key Highlights
- Approximately 900 square feet of office space
- Medical building directly across from Parkview Hospital
- Open layout supports reconfiguration for medical use
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
$16,537
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
5.53%
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%
$330,740
$330.7K
Cap Rate 7%
$236,243
$236.2K
Cap Rate 9%
$183,744
$183.7K
Market Conditions
NOI Build-Up for 900 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
$23.8K $26.40/SF
− Vacancy
−$1.7K −$1.90/SF
EGI
$22.0K $24.50/SF
− OpEx
−$5.5K −$6.12/SF
NOI
$16.5K $18.37/SF
Area
ZIP 92503
Vacancy
7.20%
Lease Rate
$26.40 /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%
$330,740
Cap Rate 7%
$236,243
Cap Rate 9%
$183,744
Alternative Uses
Best Use
Office B
$236.2K
$206.7K – $275.6K
NOI $16,537 @ 7.0% cap · market cap 5.53%
Second Best
Healthcare Medical
$218.0K
$190.8K – $254.3K
NOI $15,260 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$308.4K
$269.9K – $359.9K
NOI $21,591 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92503, CA
90,011
Population
25,802
Households
3.5
Avg Household Size
35
Median Age
21%
College-Educated
81%
High-School Grad
34.3 sq mi
ZIP Area
2,624
Density / Sq Mi
$91,523
Median Household Income
$42,150
Median Earnings
$1,801
Median Rent
$556,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Approximately 900 square feet in a medical building across from Parkview Hospital, with parking and ADA-accessible access.
Where is this medical office space located?
The property is located at 9041 Magnolia Ave 001 Riverside, CA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 900 square feet of office space; Medical building directly across from Parkview Hospital; Open layout supports reconfiguration for medical use
