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    92211 Sheryl Ave Palm Desert, CA 92211

    Sponsored
    For Sale
    $350,000

    0.37-Acre Commercial Lot, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 0.37-acre commercial lot presents a prime development opportunity in Palm Desert, California. Located at the southwest corner of Cook Street and Sheryl Avenue (APN 624241024), this property boasts unparalleled visibility and exposure, benefiting from over 27,500 vehicles per day on Cook Street. Cook Street serves as a major thoroughfare connecting Interstate 10 and Highway 111, ensuring high traffic volume and excellent accessibility. The site is ideally suited for the construction of a new building up to 4,000 square feet, making it perfect for a variety of professional uses, including medical offices, dental practices, or legal offices. Its strategic location near Palm Desert High School and First Tee Golf further enhances its appeal. The asking price for this exceptional property is $350,000. This is an owner-user opportunity to build a custom space tailored to your specific business needs in a high-traffic, highly visible location. The property's address is 92211 Sheryl Ave, Palm Desert, CA 92211.

    Property Features for 92211 Sheryl Ave

    General Information

    Property type
    Land
    Lot Size
    16,117 SF

    HighLights

    • High visibility from Cook Street.
    • High traffic counts (27,500 vehicles per day in 2022).
    • Owner‑user opportunity available.
    • Build‑to‑suit option up to 4,000 square feet of office space.
    • Ideal for medical or professional office users (e.g., attorney, dentist, cosmetic surgeon).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Desert
    County
    Riverside
    State
    California
    Longitude
    -116.35637775837
    Latitude
    33.737034903998

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    FAQs

    What type of property is this?
    Land - 0.37-Acre Commercial Lot, High Visibility
    Where is this land located?
    The property is located at 92211 Sheryl Ave Palm Desert, CA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: High visibility from Cook Street.; High traffic counts (27,500 vehicles per day in 2022).; Owner-user opportunity available.
    (714) 875-2400
    Request Owner's contact information
    92211 Sheryl Ave Palm Desert, CA 92211
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    Palm Desert, CA 92211
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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.

    Alternative use

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

    More about this property
    92211 Sheryl Ave Palm Desert, CA 92211
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