Sign Up Successful!
You now have access to more from Realmo!
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

    74923 Hovley Ln E Ste, Unit 100 Palm Desert, CA 92260-1927

    • Office buildings
    • 17,562 SF
    • 1.30 lot acres
    OFF-MARKET
    Last Sale
    Nov 24, 2020
    $5,250,000
    Value Estimations
    $5,280,000
    Show details
    Cap Rate Potential
    5.1%
    Office buildings
    Location Intelligence
    Property ID
    US09-5541243
    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

    • Office buildings

    Property Details for 74923 Hovley Ln E Ste

    Year built
    1986
    Construction
    TILT-UP CONCRETE
    Lot size
    1.30 lot acres
    Property size
    17,562 SF
    Property type
    Office buildings
    APN
    624-290-054
    APU
    624290054

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,755,000
      ML approach
      $5,620,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,905,000
      6.5%
      $4,530,000
      7%
      $4,205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,058,000
      Market price range: $3.35M - $9.65M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,640,000
      Current use
      AUTO REPAIR, GARAGE
      $7,585,000
      Change: +14% Conversion: Difficult
      RETAIL STORES
      $6,630,000
      Change: -0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Desert
    County
    Riverside
    State
    California
    Longitude
    -116.357
    Latitude
    33.7465
    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
    $31,055
    $504,073
    $2,016,295
    $2,520,368
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      44835 Portola Ave

      OFFICE BUILDING • 0.16 Acres
      44835 Portola Ave, Palm Desert, CA 92260-3703
      View Details
    • Value Estimation by Request

      74804 Joni Dr Ste 10a

      OFFICE BUILDING
      74804 Joni Dr Ste 10a, Palm Desert, CA 92260-2019
      View Details
    • Value Estimation
      $3,475,000
      14,802 SF

      44530 San Pablo Ave

      OFFICE BUILDING • 14,802 SF
      44530 San Pablo Ave, Palm Desert, CA 92260-3596
      View Details
    • Value Estimation by Request
      0.88 Acres

      72559 Hwy 111

      OFFICE BUILDING • 0.88 Acres
      72559 Hwy 111, Palm Desert, CA 92260-3306
      View Details
    • Value Estimation
      $600,000
      2,563 SF

      72650 Fred Waring Dr, Unit A104

      OFFICE BUILDING • 2,563 SF
      72650 Fred Waring Dr, Palm Desert, CA 92260-5006
      View Details
    • Value Estimation
      $1,580,000
      9,459 SF

      43645 Monterey Ave

      OFFICE BUILDING • 9,459 SF
      43645 Monterey Ave, Palm Desert, CA 92260-9309
      View Details

    Similar Nearby for Sale

    • $4,153,000
      12,870 SF

      Two-Story Professional Building For Sale

      Two-story professional building on nearly one acre available for purchase.
      74090 El Paseo, Palm Desert, CA 92260
      View Details
    • $4,268,000
      25,053 SF

      Palm Desert Office Investment

      Prime Palm Desert office building, high upside.
      44100 Monterey Ave, Palm Desert, CA 92260
      View Details
    • $5,000,000
      20,676 SF

      Prime Palm Desert Office Complex

      $5M, 20,676 SF, Multi-Use
      74399 Ca-111, Palm Desert, CA 92260
      View Details
    • $1,070,000
      2,782 SF

      Highway 111 Stand-Alone Building

      Stand-alone building fronting Highway 111 with ample parking.
      73120 California 111, Palm Desert, CA 92260
      View Details
    • $4,153,000
      12,870 SF

      Palm Desert Office Building

      12,870 SF Multi-Tenant Office, 80% Occupied
      74090 El Paseo, Palm Desert, CA 92260
      View Details
    • $1,700,000
      1.62 Acres

      Lot 5 - Nighthawk Six Luxury Estate Lots

      Land • 1.62 Acres
      5 Nighthawk Rd, Palm Desert, CA 92260
      View Details

    Similar Nearby for Lease

    • $0.14 SF/Yr
      10,000 SF

      High Image Office Building

      Office building across from College of the Desert.
      73271 Fred Waring Dr, Palm Desert, CA 92260
      View Details
    • $17 SF/Yr
      12,084 SF

      Palm Desert Office Plaza Investment

      Prime Palm Desert Office Space Available
      74333 Ca-111, Palm Desert, CA 92260
      View Details
    • $0.85 SF/Yr
      10,600 SF

      El Paseo Retail/Office Suite

      Retail or office suite in premier shopping district.
      74-040 El Paseo Dr, Palm Desert, CA 92260
      View Details
    • $2.00 SF/Yr

      El Paseo Retail/Office Space

      1,150 SF space suitable for office or retail use.
      73950 El Paseo C, Palm Desert, CA 92260
      View Details
    • $17 SF/Yr
      11,911 SF

      Palm Desert Office Space for Lease

      Prime Office Suites, Multiple Sizes Available
      74350 Alessandro Dr, Palm Desert, CA 92260
      View Details
    • $650 /Mo
      11,292 SF

      Move-in Ready Palm Desert Office

      Clean office suites in Palm Desert with reserved parking.
      74854 Velie Way, Palm Desert, CA 92260
      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.
    74923 Hovley Ln E Ste, Unit 100
    Palm Desert, CA 92260-1927
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.