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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    73061 El Paseo Palm Desert, CA 92260

    • Retail space
    • 11,791 SF
    • 0.52 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Value Estimations
    $710,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1648006
    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

    • Joel B. Johnson / Personal Injury Attorney
    • BOHIMI / Bridal Shop
    • The Daily Grill / Bar & Grill
    • Senior Wyze Senior Care & Assisted Living Palm Desert CA / Assisted Living Facility / Health Consultant

    Property Details for 73061 El Paseo

    Year built
    2008
    Construction
    WOOD
    Lot size
    0.52 lot acres
    Property size
    11,791 SF
    Zone code
    CPS
    Property type
    Retail space
    APN
    627-231-018
    APU
    627231018

    Description

    This exceptional 2,354 square foot office space, located at 73061 El Paseo, Palm Desert, CA 92260, is situated in the desirable Shops on El Paseo. The property is part of a larger 27,674 square foot building, constructed in 1975 and classified as Class C. The space is currently available for lease and is ideal for a variety of businesses, including architectural, engineering, or design firms, as well as wellness studios such as yoga or Pilates. The unit boasts a unique and stylish design, featuring high open ceilings and built-in workstations, enhancing both functionality and aesthetics. A convenient breakroom and copy room are included, along with two spacious restrooms and a private office, ensuring comfort and productivity for employees. Enjoy stunning views from the private balcony overlooking El Paseo, and appreciate the picturesque mountain vistas visible from the front entrance. The property is zoned C1 and offers multiple tenancy options within the building. This second-floor space presents a rare opportunity to secure a well-appointed office in a prime Palm Desert location. The building's location on El Paseo provides excellent visibility and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $710,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Desert
    County
    Riverside
    State
    California
    Longitude
    -116.39
    Latitude
    33.7194
    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
    $51,383
    $461,992
    $3,725,355
    $4,187,347
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      73230 Fiddleneck Ln

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      73230 Fiddleneck Ln, Palm Desert, CA 92260-4764
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    • Value Estimation
      $545,000
      10,294 SF

      73000 Hwy 111

      RETAIL STORES (PERSONAL SERVICES) • 10,294 SF
      73000 Hwy 111, Palm Desert, CA 92260-3901
      View Details

    Similar Nearby for Sale

    • $1,070,000
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      Highway 111 Stand-Alone Building

      Stand-alone building fronting Highway 111 with ample parking.
      73120 California 111, Palm Desert, CA 92260
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    • $5,967,000
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      Retail Property on Highway 111

      Retail space in the heart of Palm Desert.
      72261 Highway 111, Palm Desert, CA 92260
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    • $5,817,024
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    • $5,817,024
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      Retail Center with Gas Station

      Well-maintained retail center with gas station in Palm Desert, CA.
      74478 Highway 111, Palm Desert, CA 92260
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    • $7,500,000

      El Paseo Mixed-Use Investment

      Prime corner property with retail, restaurant, and residential units.
      73995 El Paseo, Palm Desert, CA 92260
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    • $5,000,000
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      Prime Palm Desert Office Complex

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    Similar Nearby for Lease

    • $1.50 SF/Yr
      3,124 SF

      Palm Desert Retail Space Available

      Retail space in central Palm Desert location for lease.
      72-790 Highway 111, Palm Desert, CA 92260
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    • $2 SF/Yr
      10,892 SF

      Retail/Office Building on El Paseo

      Retail/office space in upscale shopping center with ample parking.
      73-260 El Paseo Dr, Palm Desert, CA 92260
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    • $2 SF/Yr
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      Retail Space Available For Rent

      Retail space available for rent in Palm Desert, CA.
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    • $48 SF/Yr
      70,646 SF

      El Paseo Prime Retail Space

      1,418 SF Storefront, High Traffic
      73400 El Paseo, Palm Desert, CA 92260
      View Details
    • $21 SF/Yr
      4,439 SF

      El Paseo Retail Space: ±3,085 SF

      Prime Retail Space, El Paseo & Hwy 111
      72608-72624 El Paseo Dr, Palm Desert, CA 92260
      View Details
    • $1.50 SF/Yr
      518,237 SF

      Large Retail Center For Lease

      Prime retail spaces available in a high-traffic shopping center.
      72-333 Thru 72-549 Hwy, Palm Desert, CA 92260
      View Details
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    73061 El Paseo
    Palm Desert, CA 92260
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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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