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    Avenue 42 Indio, CA 92203
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    Avenue 42, Indio, CA 92203

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    Cap Rate Potential
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    Current Use by Public Records

    • Land

    Property Details for 0 Avenue 42

    Property type
    Land

    Description

    This exceptional 11.11-acre land parcel in Indio, CA (92203), presents a remarkable opportunity to acquire a fully approved 247-unit multi-family development, The Alexian at Northgate Crossing. Situated within a thriving 80-acre mixed-use master-planned community, this project boasts convenient access to I-10, Highway 111, and nearby La Quinta and Bermuda Dunes. The Alexian features efficiently designed one- and two-bedroom apartments (50% each), averaging 988 square feet, ranging from 707 to 1,086 square feet. The contemporary design incorporates three-story walk-up stacked flats with tuck-under parking, providing one enclosed garage per unit (approximately 147 tuck-under, remainder detached). Two-bedroom units also include a covered carport. Community amenities include a resort-style pool, club room, leasing office, and a 3,890 square foot fitness center. The project's location offers residents walkability to nearby retail, dining, and entertainment options, including Arco/AMPM/Car Wash, Sonic, McDonald's, and Del Taco, already established within Northgate Crossing. This development represents a rare opportunity to control a significant portion of the future residential rental supply in the rapidly growing Indio and La Quinta area, a location known as the new gateway to La Quinta and Northwest Indio. The Alexian is strategically positioned near the Jefferson Interchange, providing easy access to major thoroughfares and nearby attractions, including PGA West in La Quinta and Fantasy Springs Casino. This is a truly unique opportunity for a multi-family developer to secure a prime asset in a high-demand market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Indio
    County
    Riverside
    State
    California
    Longitude
    -116.266
    Latitude
    33.7423

    Comparable in this City

    • Value Estimation by Request
      3.81 Acres

      & I-10 Jefferson St

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      & I-10 Jefferson St, Indio, CA 92203
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      4.17 Acres

      79291 Avenue 40

      Land
      79291 Avenue 40, Indio, CA 92203
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      1.03 Acres

      000 Caspian St

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      000 Caspian St, Indio, CA 92203
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    • Value Estimation by Request
      7.42 Acres

      Varner Rd

      Land
      0 Varner Rd, Indio, CA 92203
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    • Value Estimation by Request
      3.81 Acres

      Nec Jefferson St & Varner Rd

      Retail properties & Spaces
      0 Nec Jefferson St & Varner Rd, Indio, CA 92203
      View Details
    • Value Estimation by Request
      6.50 Acres

      Avenue 42

      Land
      0 Avenue 42, Indio, CA 92203
      View Details

    Similar Nearby for Sale

    • $2,975,000
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      Indio Industrial Land - $2.975M

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    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Lease/Sale

      Land available for lease or sale north of Interstate 10.
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      Bermuda Dunes Land for Lease

      Land available for lease in Bermuda Dunes, California.
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      Coachella Valley Land for Rent

      Land for rent in central Coachella Valley with easy access.
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      Indio Retail Space For Lease

      Retail space in Shadow Hills Plaza with high visibility.
      82900 Avenue 42, Indio, CA 92203
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    • $3,275 /Mo
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      Bermuda Dunes Office Space Available

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    • $1.75 SF/Yr
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      Retail Space Near Ralphs Available

      Retail space available in a busy neighborhood shopping center.
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    Indio, CA 92203
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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.

    More about this property
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