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    The Largest CRE Database in the US with Over 1 Million Listings

    31620 Sky Mesa Rd Homeland, CA 92548

    Sponsored
    For Sale
    $155,000

    Land/Lot - Homeland, CA

    Lot size:
    228,690.00 Acres
    Days on Market:
    81
    Last Refresh:
    Feb 1 at 9:06 pm

    Property Features for 31620 Sky Mesa Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-A-5
    APN
    429340006
    Exterior features
    Community Features Included: Biking, Hiking, Mountainous, Rural
    Lot size
    228,690.00 Acres

    Taxes and HOA fees

    Expense value
    260
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Shawn Smithson
    Shawn Smithson

    Re/Max One (818) 674-1745

    Listing agent Shawn Smithson (949) 204-2192 License #01706033

    Listing date Nov 13, 2025

    MLS# OC25105524 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

    Homeland Estate View Lot

    This 5.25-acre estate view lot is located within the gated community of The Ranches at Sky Mesa. The north-facing parcel is situated at approximately 2,700+ feet in elevation and offers unobstructed views of snow-capped mountains, Lake Perris, Phantom Lake, rolling hills, and sunsets. The natural terrain includes rock outcroppings. The community features custom homes, underground utilities, and 24/7 gated security with surveillance cameras. Each parcel maintains a minimum of five acres and allows up to four horses. Mobile homes are prohibited. Homes must be a minimum of 2,800 square feet with at least a three-car garage. A site plan has been prepared for this lot. Utilities include district water, electric, and phone lines located in the paved street. The property is in a propane and septic area. The lot has marked corners and is accessible through gated entry points north off Nuevo Road and south off Juniper Flats Road. There's space for patios, garages, horse facilities, or walking trails. Located near I-215, Highway 74, and the Ramona Expressway, the property offers access to shopping, schools, medical centers, parks, and regional airports. It sits between Perris and Diamond Valley Lakes and is 20 miles from Lake Elsinore. The property is centrally located for commuting to Riverside, San Diego, Orange, Los Angeles, and San Bernardino Counties. The property is zoned R-A-5.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Wholesale Shop Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Homeland
    County
    Riverside
    State
    California
    Longitude
    -117.114769
    Latitude
    33.785007

    Nearby Similar for Sale

    • $385,000
      620 SF

      Commercial Property in Homeland, CA

      Commercial property available for sale in Homeland, California.
      31559 Us Highway 74, Homeland, CA 92548
      View Details
    • $385,000

      Homeland Commercial Property Opportunity

      Single-tenant bungalow in Homeland, California, suitable for various business ventures.
      31559 Us Highway 74, Homeland, CA 92548
      View Details

    FAQs

    What type of property is this?
    Land - Exceptional 5.25-acre estate view lot in gated community.
    Where is this land located?
    The property is located at 31620 Sky Mesa Rd Homeland, CA.
    What is the asking price?
    The asking price for this property is $155,000.
    What are key features of this property?
    This property features: - Exceptional 5.25-acre estate view lot in The Ranches at Sky Mesa.; - Breathtaking, unobstructed views of snow-capped mountains, Lake Perris and dramatic sunsets.; - High-end development potential with a prepared site plan and utilities available.
    (949) 371-5569
    Request Owner's contact information
    31620 Sky Mesa Rd Homeland, CA 92548
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    Homeland, CA 92548
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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
    31620 Sky Mesa Rd Homeland, CA 92548
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    We can help!
    Listing Contact
    Shawn Smithson
    Shawn Smithson
    Real Estate License ID: 01706033
    (949) 371-5569
    Learn more
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