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    Property profile & analytics

    1035 Ramsey St Banning, CA 92220

    • Retail space
    • 5,355 SF
    • 0.65 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3066055
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bravo Dental Group of Banning / Dental Office
    • Dr. Suneal Naik / Dental Office
    • University Heights Family Dentistry & Orthodontics / Dental Office
    • Rosa's Patient Services / Medical Clinic
    • MFI Recovery Center Banning Outpatient Services / Medical Clinic

    Property Details for 1035 Ramsey St

    Year built
    1983
    Construction
    WOOD
    Lot size
    0.65 lot acres
    Property size
    5,355 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    540-125-030
    APU
    540125030

    Description

    Thunderbird Plaza, located at 1035 W Ramsey St, Banning, CA 92220, presents a unique investment opportunity. This single-story, 9,100 square foot Class B building, constructed in 1992 and renovated in 2010, offers a blend of traditional, medical, and executive office spaces. Currently, there are nine suites available within the building, with 730 square feet of vacant space ready for immediate occupancy. The property is situated in the Beaumont submarket and zoned for Office, Retail, and Specialty uses, providing flexibility for a variety of businesses. The building's address is conveniently located near 8th Street. Available spaces range from approximately 1,012 to 1,300 square feet. One vacant suite features three separate rooms, a bathroom, and a kitchen, ideal for a small business seeking a professional and functional workspace. The property's location in Banning, CA offers excellent access to local amenities and transportation routes. The Assessor's Parcel Number (APN) is 540-125-030. This is a multi-tenant building offering a diverse range of opportunities for businesses seeking a well-maintained and conveniently located office space in the thriving Banning area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,280,000
      6.5%
      $1,180,000
      7%
      $1,095,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $886,000
      Market price range: $349k - $1.37M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,650,000
      Current use
      WAREHOUSE, STORAGE
      $1,580,000
      Change: -4% Conversion: Difficult
      MEDICAL BUILDING
      $1,465,000
      Change: -11% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Banning
    County
    Riverside
    State
    California
    Longitude
    -116.888
    Latitude
    33.9257
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $12,707
    $228,341
    $691,044
    $919,385
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      1243 Ramsey St

      STORE, RETAIL OUTLET
      1243 Ramsey St, Banning, CA 92220-5927
      View Details
    • Value Estimation
      $1,660,000
      15,000 SF

      1330 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 15,000 SF
      1330 Ramsey St, Banning, CA 92220-4477
      View Details
    • Value Estimation
      $1,805,000
      6,900 SF

      5021 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 6,900 SF
      5021 Ramsey St, Banning, CA 92220-3069
      View Details
    • Value Estimation by Request
      1,540 SF

      676 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 1,540 SF
      676 Ramsey St, Banning, CA 92220
      View Details
    • Value Estimation
      $3,430,000
      23,520 SF

      2648 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 23,520 SF
      2648 Ramsey St, Banning, CA 92220-3716
      View Details
    • Value Estimation by Request
      1,536 SF

      724 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 1,536 SF
      724 Ramsey St, Banning, CA 92220-4852
      View Details

    Similar Nearby for Sale

    • $625,000
      900 SF

      High-Traffic Commercial Property Near I-10

      900 sqft commercial building with C2 zoning near I-10.
      3724 W Ramsey St, Banning, CA 92220
      View Details
    • $220,000
      500 SF

      Banning Commercial Property For Sale

      Office or showroom/store location in downtown Banning.
      1115 W Ramsey St, Banning, CA 92220
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    • Contact for pricing
      4,303 SF

      Fully Leased Retail Building

      Two-tenant retail building with development potential on excess land.
      775 E Ramsey St, Banning, CA 92220
      View Details
    • $625,000

      High-Traffic Commercial Property For Sale

      900 sq ft commercial building with C2 zoning.
      3724 W Ramsey St, Banning, CA 92220
      View Details
    • $488,000
      2,400 SF

      Downtown Banning Commercial Opportunity

      Versatile commercial building in the heart of downtown Banning.
      170 W Ramsey St, Banning, CA 92220
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    • $275,000
      819 SF

      Commercial Property in Downtown Banning

      Eye-catching corner property with revitalization potential in downtown Banning.
      614 W Ramsey St, Banning, CA 92220
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    Similar Nearby for Lease

    • $168 SF/Yr
      20,000 SF

      Banning Retail Anchor Space

      High-traffic location, excellent visibility
      300 Highland Springs Ave, Banning, CA 92220
      View Details
    • $2,988 /Mo
      2,988 SF

      Banning Commercial Space Available

      Freestanding building with open floor plan and ample parking.
      3055 W Ramsey St, Banning, CA 92220
      View Details
    • $4,482 /Mo

      Freestanding Building on Ramsey Street

      Freestanding building with open floor plan and ample parking.
      3055 W Ramsey St, Banning, CA 92220
      View Details
    • $21 SF/Yr
      9,100 SF

      Thunderbird Plaza: Banning Office Space

      9,100 SF Office Building, Suites Available
      1035 Ramsey St, Banning, CA 92220
      View Details
    • Contact for pricing

      Banning Warehouse Space Available

      Warehouse space available for rent in Banning, California.
      Hathaway St, Banning, CA 92220
      View Details
    • Contact for pricing
      1,000,000 SF

      Banning, CA Industrial/Office Space

      Massive 1M SF Executive Office/Warehouse
      2600 John St, Banning, CA 92220
      View Details
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    1035 Ramsey St
    Banning, CA 92220
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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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