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    24001 Nuevo Rd, Unit -24002 Perris, CA 92570

    Sponsored
    For Sale
    Under Contract
    $600,000

    Land/Lot - Perris, CA

    Lot size:
    134,164.80 Acres
    Days on Market:
    17
    Last Refresh:
    Jan 24 at 3:06 am

    Property Features for 24001 Nuevo Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    MU
    APN
    305270030
    Exterior features
    Community Features Included: Biking, Park, Rural, Suburban
    Lot size
    134,164.80 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Marcus Ibrahim
    Marcus Ibrahim

    eXp Realty of Greater Los Angeles, Inc (888) 652-1314

    Listing agent Marcus Ibrahim (888) 652-1314 License #02103911

    Listing date Jan 8, 2026

    MLS# CV25225771 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.

    Learn more

    Property Insight Report

    Overview

    Opportunity Zone Land Near Freeway

    This offering consists of two contiguous parcels totaling 3.08 acres located on Webster Avenue, just north of Nuevo Road in Perris, CA. Situated in an Opportunity Zone and approximately 0.5 miles from the I-215 interchange, the property is zoned for mixed-use development, allowing up to 60 units per acre. The site benefits from its proximity to the I-215 and CA-74 freeways, as well as the Nuevo Road interchange. The property is located near Perris Plaza, which includes Walmart, ALDI, Stater Bros, In-N-Out, Chick-Fil-A, Ross, Starbucks, and Planet Fitness. Permitted uses include residential, parks, restaurants, retail, medical offices, and professional services. Conditional approval may allow for hotels, entertainment venues, convenience stores, and mobile home parks. Water and power are available next door, with sewer access in the street in front of the neighboring parcel. The area around Nuevo Road and Webster Avenue is experiencing rapid development, with major commercial and industrial projects underway. The Perris Gateway Distribution Facility, featuring 855,330 square feet of warehouse space and 27,000 square feet of retail including Taco Bell, Starbucks, Shell, and Sonic, is under construction on 42 acres near I-215 and is scheduled for completion by August 2025. Infrastructure improvements are also in progress, including an $8 million upgrade to Ramona Expressway and an expansion of the Perris–South Metrolink Station, which includes adding a second platform and a 2.7-mile track upgrade.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.243004
    Latitude
    33.801626

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    FAQs

    What type of property is this?
    Commercial land - 3.08 acres in an Opportunity Zone near I-215.
    Where is this commercial land located?
    The property is located at 24001 Nuevo Rd, Unit -24002 Perris, CA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: - 3.08 acres in an Opportunity Zone allowing 60 units per acre, offering significant development potential.; - Mixed-Use Zoning permits a wide range of uses including residential, retail, restaurants, and more.; - Excellent location near the I-215/CA-74 interchange, providing easy access to major transportation routes.
    (617) 285-2966
    Request Owner's contact information
    24001 Nuevo Rd, Unit -24002 Perris, CA 92570
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    Perris, CA 92570
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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
    24001 Nuevo Rd, Unit -24002 Perris, CA 92570
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    We can help!
    Listing Contact
    Marcus Ibrahim
    Marcus Ibrahim
    Real Estate License ID: 02103911
    (617) 285-2966
    Learn more
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