Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    490 Farrell Dr Palm Springs, CA 92262-7992

    • Office buildings
    • 19,276 SF
    • 1.32 lot acres
    OFF-MARKET
    Value Estimations
    $3,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2765484
    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

    • Jewish Family Service Of The Desert / Family Counselor
    • The Pediatric Dentists / Dental Office
    • Steven J. Niethamer / Dental Office
    • American Academy-Pediatric / Dental Office
    • Darrin Collins Hair Stylist / Hair Salon

    Property Details for 490 Farrell Dr

    Year built
    1982
    Construction
    WOOD
    Lot size
    1.32 lot acres
    Property size
    19,276 SF
    Zone code
    P
    Property type
    Office buildings
    APN
    502-230-005
    APU
    502230005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,385,000
      6.5%
      $4,970,000
      7%
      $4,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,357,000
      Market price range: $3.68M - $8.23M
      AI Estimate
      $2,469,000
      Market price range: $757k - $4.42M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,870,000
      Current use
      RETAIL STORES
      $6,550,000
      Change: +34% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.518
    Latitude
    33.8165
    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
    $46,441
    $846,296
    $2,763,344
    $3,609,640
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      1090 Palm Cyn Dr Ste C

      OFFICE BUILDING
      1090 Palm Cyn Dr Ste C, Palm Springs, CA 92262-4435
      View Details
    • Value Estimation by Request

      801 Tahquitz Cyn Way Ste, Unit 101

      OFFICE BUILDING
      801 Tahquitz Cyn Way Ste, Palm Springs, CA 92262-6763
      View Details
    • Value Estimation by Request

      777 Tahquitz Cyn Way Ste, Unit 200

      OFFICE BUILDING
      777 Tahquitz Cyn Way Ste, Palm Springs, CA 92262-6797
      View Details
    • Value Estimation by Request

      1276 Palm Cyn Dr Ste, Unit 203

      OFFICE BUILDING
      1276 Palm Cyn Dr Ste, Palm Springs, CA 92262-4436
      View Details
    • Value Estimation by Request

      810 Farrell Dr

      OFFICE BUILDING
      810 Farrell Dr, Palm Springs, CA 92262-5940
      View Details
    • Value Estimation
      $630,000
      2,704 SF

      2825 Tahquitz Cyn Way

      OFFICE BUILDING • 2,704 SF
      2825 Tahquitz Cyn Way, Palm Springs, CA 92262-6906
      View Details

    Similar Nearby for Sale

    • $6,428,000
      15,704 SF

      Government Leased Facility For Sale

      Government-leased facility near downtown Palm Springs with lease extension.
      1201 Bird Center Dr, Palm Springs, CA 92262
      View Details
    • $1,950,000

      Palm Springs Multi-Use Office Building

      Modern office building in central Palm Springs with mountain views.
      140 North Luring Dr, Palm Springs, CA 92262
      View Details
    • $11,700,000

      Palm Springs Mixed-Use Assemblage

      Prime South Palm Canyon Drive properties with redevelopment potential.
      431 S Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    • $5,750,000

      Mid-Century Modern Office Complex

      Multi-tenant office complex at a major intersection, 100% occupied.
      1701 North Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    • $5,500,000

      Palm Canyon Drive Mixed-Use Opportunity

      Two-story building in revitalized downtown Palm Springs financial district.
      431 South Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    • $4,000,000

      Former Saks Fifth Avenue Building

      Iconic downtown Palm Springs landmark with redevelopment potential.
      490 S Palm Canyon Dr, Palm Springs, CA 92262
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Palm Springs Airport Hangar Opportunity

      Rare airport hangar and industrial space for lease in Palm Springs.
      3400 East Tahquitz Canyon Way, Palm Springs, CA 92262
      View Details
    • $2.00 SF/Yr

      Downtown Palm Springs Office Space

      Architecturally significant building in a prime downtown location.
      160-182 E Andreas Rd, Palm Springs, CA 92262
      View Details
    • Contact for pricing
      3,080 SF

      Upscale Industrial/Office Space Available

      Premier light industrial space converted to training school/office. No CAM fees.
      1243 N Gene Autry Trl, Palm Springs, CA 92262
      View Details
    • $3 SF/Yr

      Prime Uptown Design District Location

      Highly visible commercial space in Palm Springs' Uptown Design District.
      844 N Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    • $1.50 SF/Yr

      Palm Canyon Drive Office Space

      Office space for rent in Uptown Design District.
      1701 North Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    • $3 SF/Yr

      Downtown Palm Springs Office Suites

      Luxury office suites available for lease in downtown Palm Springs.
      201 N Palm Canyon Dr, Palm Springs, CA 92262
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    490 Farrell Dr
    Palm Springs, CA 92262-7992
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!