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Property profile & analytics
OFF-MARKET Estimated value $5,300,000
Office buildings

340 Farrell Dr Palm Springs, CA 92262-7963

22,804 SF 3.29 ac lot Built 1982
Individually Owned 35-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-2618821
Property summary
AI-generated overview

The Abbey Center, located at 340 S Farrell Dr, Palm Springs, CA 92262, offers a unique investment opportunity in the thriving Palm Springs submarket of Riverside County. This Class B office complex comprises three buildings totaling 67,635 square feet, featuring 2-story structures with a minimum divisible space of 431 square feet and currently 1,127 square feet vacant. Built in 1982, the property sits on 4.61 acres of land and boasts ample parking (4.6 spaces per 1,000 square feet) and elevators. The property is zoned P (Professional Zone District) and enjoys excellent visibility at the intersection of Ramon Road and South Farrell Drive, two major Palm Springs thoroughfares. Its strategic location offers easy access to Palm Springs International Airport (within one mile) and the I-10 Freeway (10 minutes away), providing convenient access to the entire Coachella Valley. The Abbey Center is ideally situated near a variety of amenities, including restaurants, shops, golf courses, hiking trails, and hotels. The property is suitable for both executive and medical office uses, offering multiple tenancy options. This presents a compelling opportunity to acquire a well-located, established office complex in a high-demand area.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1982
Construction WOOD
Total area 22,804 SF
Lot 3.29 ac (143,312 SF)
Zoning code P
APN 502-230-004
UPID US09-2618821
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Clapper Michael J DDS Dental Office
  • Karl T. Anderson CPA, Inc. Accounting Firm Tax Preparation
  • Dr. Marvin H. Frankel, MD Pediatrician Physician
  • Nazareth Ivor J MD Physician Medical Clinic
  • MSLA Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$5.88M
Comparable Approach Comparable
$5.22M
Blend (final) Blend
$5.30M
Owner & transaction history
Asset Sovereign · 35 yrs held
Asset Sovereign
since 1990
6 recorded transactions
1990
$2.9M
1989
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
P · Palm Springs, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage $7.9M +36.8%
Retail stores $7.7M +34.5%
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