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264 N Highland Springs Ave 6,757 SF 50% Leased Office Building Banning, CA 92220 $1,700,000 ($251.59/SF) 6.19% Cap Rate
Investment Highlights
- Adjacent to San Gorgonio Hospital
- Ample Parking / Single Story / 50% Occupancy / Turn Key Investment
- Professional Office / Medical Office Zoning
Executive Summary
Located at 264 N. Highland Springs Ave. #4, Banning, CA 92220, this well-maintained, single-story professional medical office building was constructed in 1992 and offers approximately 6,757 square feet of gross interior space on a 8,624 square-foot lot. Currently configured as a medical office and zoned for Professional Office use, the property features a highly functional floor plan that includes more than 20 private offices/exam rooms, three restrooms, a conference room, kitchen, exercise/therapy room, and five dedicated storage rooms, providing flexibility for a variety of medical or professional office users. The property also offers ample on-site parking for staff and visitors and is located within Flood Zone X, indicating minimal flood risk. Conveniently situated adjacent to San Gorgonio Memorial Hospital, the location provides excellent accessibility and is well-positioned for medical, healthcare, and other professional office practices. The adjacent / identical building #5 sold in February 2024 for $1,690,000.
Tenant currently occupies 50% of the building at $4,750 per month. Additional 50% ready for occupancy
Tenant currently occupies 50% of the building at $4,750 per month. Additional 50% ready for occupancy
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
6,757 SF
Building Class
C
Year Built
1992
Price
$1,700,000
Price Per SF
$251.59
Cap Rate
6.19%
NOI
$105,300
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,757 SF
Building FAR
0.71
Lot Size
0.22 AC
Zoning
C2 - Profesional Office
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Rancho Paseo Medical Group
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Rancho Paseo Medical Group | Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 419-050-024 | Total Assessment | $1,448,961 |
| Land Assessment | $265,641 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,183,320 | Tax Year | 2026 |
Property Taxes
Parcel Number
419-050-024
Land Assessment
$265,641
Improvements Assessment
$1,183,320
Total Assessment
$1,448,961
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Map
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Contact the Sale Advisor
264 N Highland Springs Ave