Add Listing
    For Sale
    • 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

    2400 N San Gorgonio BLK Banning, CA 92220

    View on Map
    Claim this Listing
    Picture of Land at 2400 N San Gorgonio BLK, Banning, CA
    For Sale
    $235,000

    Land/Lot - Banning, CA

    Lot size:
    38,768.00 Acres
    Added:
    Feb 4, 2025
    Days on Market:
    433
    Last Refresh:
    Apr 13 at 11:06 am

    Property Features for 2400 N San Gorgonio BLK

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Exterior features
    Community Features Included: Rural, Mountainous
    Standard status
    Active
    APN
    534021001
    Lot size
    38,768.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    MIKKI BLOOMER
    MIKKI BLOOMER

    Listing agent MIKKI BLOOMER License #00876920

    Listing office Mountain View Associates Real Estate 1265 W RAMSEY, Banning, CA

    Listing date Feb 4, 2025

    MLS# IV25025660 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Land in Established Neighborhood

    This 0.89-acre parcel extends from N. San Gorgonio through to N. Murray in Banning, CA. The property has ample street frontage on both streets, offering the possibility of a lot split. Located within a well-established neighborhood of older custom homes on large lots, the R1-zoned land is suitable for building a custom home and potentially a spec home in the future. This type of property in this location is a rare find in Riverside County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Banning
    County
    Riverside
    State
    California
    Longitude
    -116.854
    Latitude
    33.9464

    Nearby Similar for Sale

    • $469,900
      1,505 SF

      Upgraded Home/Business Near Courthouse

      Upgraded 2 bedroom home/business near Banning Courthouse.
      402 E Ramsey, Banning, CA 92220
      View Details
    • $365,000
      1,572 SF

      Commercial Land with I-10 Visibility

      Commercial land with I-10 visibility and great business potential.
      3378 W Ramsey, Banning, CA 92220
      View Details
    • $825,000

      Commercial Land in Banning, CA

      1.17 acre commercial land with endless possibilities.
      0 Ramsey, Banning, CA 92220
      View Details
    • $488,000
      2,400 SF

      Downtown Banning Commercial Opportunity

      Versatile commercial building in the heart of downtown Banning.
      170 W Ramsey Street, Banning, CA 92220
      View Details
    • $625,000
      900 SF

      High-Traffic Commercial Property Near I-10

      900 sqft commercial building with C2 zoning near I-10.
      3724 W Ramsey Street, Banning, CA 92220
      View Details
    • $599,000
      1,400 SF

      New Duplex in Banning, CA

      New construction duplex in Banning, CA, built in 2024.
      497 Martin Street, Banning, CA 92220
      View Details
    • $325,000

      Land for Sale in Banning

      Land with unfinished structure, sold as-is in Banning, CA.
      47115 WONDERLAND Drive, Banning, CA 92220
      View Details
    • $90,000

      Residential Land Lot Ready to Build

      Residential land lot with permits and utilities ready for construction.
      1451 N Blanchard Street, Banning, CA 92220
      View Details
    • $999,999

      Banning Ranch with Panoramic Views

      15+ acre ranch featuring updated homes and animal facilities.
      11055 Sunset, Banning, CA 92220
      View Details
    • $175,000

      Banning Land with Mountain Views

      2.35 acres with utilities and mountain views near Banning.
      us hwy 243, Banning, CA 92220
      View Details
    • $79,000

      Corner Lot in Growing Banning

      0.23-acre corner lot zoned R-3 in Banning, CA.
      0 Roberge Avenue, Banning, CA 92220
      View Details
    • $178,300

      Residential Lot with Mountain Views

      Large 1.29-acre residential lot in established Banning neighborhood.
      0 Hargrave, Banning, CA 92220
      View Details

    FAQs

    What type of property is this?
    Land - Rare 0.89-acre lot suitable for custom and spec homes.
    Where is this land located?
    The property is located at 2400 N San Gorgonio BLK Banning, CA.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Prime parcel extending from N. San Gorgonio through to N. Murray.; Ample street frontage on both streets.; Possibility of a lot split.
    (909) 224-4298
    We can help!
    Listing Contact
    MIKKI BLOOMER
    MIKKI BLOOMER
    Real Estate License ID: 00876920
    Learn More
    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.
    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!