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    Perris Land in Opportunity Zone Title is generated by Realmo AI

    24002 Nuevo Road, Perris, CA 92570

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    Claim this Listing
    For Sale
    Under Contract
    $300,000

    Land/Lot - Perris, CA

    Lot size:
    71,002.80 Acres
    Added:
    Sep 30, 2025
    Days on Market:
    250
    Last Refresh:
    Jun 6 at 10:06 am

    Property Features for 24002 Nuevo Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    MU
    Exterior features
    Community Features Included: Rural, Biking, Suburban, Park
    Standard status
    Active Under Contract
    APN
    305270030
    Lot size
    71,002.80 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Marcus Ibrahim
    Marcus Ibrahim

    Listing agent Marcus Ibrahim License #02103911

    Listing office eXp Realty of Greater Los Angeles 303 N Glenoaks Blvd, Burbank, CA

    Listing date Sep 30, 2025

    MLS# CV25225742 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.

    HighLights

    • Located in an Opportunity Zone, offering potential capital gains tax benefits if held over 10 years.
    • Zoned for mixed‑use development, allowing for 60 units per acre.
    • Proximity to I‑215 interchange and CA‑74, providing excellent transportation access.
    • Close to Perris Plaza amenities including Walmart, ALDI, In‑N‑Out, and Starbucks.
    • Water and power are available next door, and sewer is in the street, facilitating development.
    • Located in a rapidly developing area with major commercial and industrial projects underway, including the Perris Gateway Distribution Facility.

    Overview

    This 1.63-acre parcel is located on Webster Avenue, north of Nuevo Road in Perris, CA. Situated in an Opportunity Zone, the property is approximately 0.5 miles from the I-215 interchange. The mixed-use zoning allows for 60 units per acre. Water and power are located next door, and sewer access is available in the street in front of the neighboring parcel. 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. The property is near Perris Plaza, which includes Walmart, ALDI, Stater Bros, In-N-Out, Chick-Fil-A, Ross, Starbucks, and Planet Fitness. The surrounding area is experiencing growth, with increasing population and per capita income, decreasing poverty, and a rising number of employed persons. The Perris Gateway Distribution Facility, an 855,330 sq ft warehouse with 27,000 sq ft of retail space 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 underway, including an $8 million upgrade to Ramona Expressway and an expansion of the Perris–South Metrolink Station, adding a second platform and a 2.7-mile track upgrade. Riverside County offers access to three major interstates, the nation’s busiest port system, Ontario Airport, UPS & FedEx Ground Hubs, and BNSF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    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 - 1.63 acre mixed-use land parcel in an Opportunity Zone.
    Where is this commercial land located?
    The property is located at 24002 Nuevo Road Perris, CA.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: Located in an Opportunity Zone, offering potential capital gains tax benefits if held over 10 years.; Zoned for mixed‑use development, allowing for **60 units per acre**.; Proximity to I‑215 interchange and CA‑74, providing excellent transportation access.
    (617) 285-2966
    We can help!
    Listing Contact
    Marcus Ibrahim
    Marcus Ibrahim
    Real Estate License ID: 02103911
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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
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