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71956 Magnesia Falls Dr 5,000 SF Office Building Rancho Mirage, CA 92270 $2,050,000 ($410/SF) 6% Cap Rate
EXECUTIVE SUMMARY
This premier medical retail property is now available for purchase in the heart of Rancho Mirage, offering an exceptional investment opportunity. Set on a spacious 0.55-acre lot, the property features generous parking accommodations and offers stunning views of the surrounding mountains. The established Tenant- Rancho Mirage Eye Care + Optometry, a trusted medical provider with over five years of successful operations at this location and numerous other California locations, recently renewed their commitment with a brand-new 5-year lease and a 5-year option. The lease is structured as a modified gross lease with 3% annual rent escalations, ensuring steady, long-term returns for the new owner.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
5,000 SF
Building Class
B
Year Built
1980
Price
$2,050,000
Price Per SF
$410
Cap Rate
6%
NOI
$123,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,300 SF
Building FAR
0.21
Lot Size
0.55 AC
Zoning
PUDC - Planned Urban Development
Parking
20 Spaces (4 Spaces per 1,000 SF Leased)
1 1
PROPERTY TAXES
| Parcel Number | 684-423-002 | Total Assessment | $1,400,000 (2025) |
| Land Assessment | $310,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,090,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
684-423-002
Land Assessment
$310,000 (2025)
Improvements Assessment
$1,090,000 (2025)
Total Assessment
$1,400,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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71956 Magnesia Falls Dr
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