1979 Office
For Sale
$5,545,000
10015 Magnolia, Riverside, CA 92503
Built in 1979, this office property offers an established building within a mixed national-tenant and residential setting.
Property Size10,000 SF
Lot Size1.10 Acres
Price / SF$554.50
Days on Market88
Property Features for 10015 Magnolia
General Information
Standard status
Active
Size
10,000 SF
Lot size
1.10 Acres
Property subtype
Commercial
Building Details
Year Built
1979
Listing Agency:
Jones Real Estate (greg@JonesRE.net)
Listed By:
Gregory Jones · License #00661121
(714) 731-3777
Source:
Sevengables
Added: May 29
Changed: Aug 23
Last Checked: Aug 23 at 7:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jones Real Estate (greg@JonesRE.net)
Investment Insights
Based on property information with market context.
Built in 1979, this office building contains approximately 10,000 square feet, situated on a lot size of approximately 47,916 square feet according to the County Tax Assessor. The property is being offered for sale.
The asset is located at 10015 Magnolia Ave in Riverside, California, and is surrounded by a mix of other national and regional tenants, along with apartments and residential properties.
For owner-users or investors looking for an established office asset in a broader commercial and residential context, the current building footprint and surrounding tenant mix provide a straightforward platform to evaluate occupancy and operations. Buyers can also review the property’s existing size and site dimensions to determine how it may align with their office needs or acquisition criteria.
The asset is located at 10015 Magnolia Ave in Riverside, California, and is surrounded by a mix of other national and regional tenants, along with apartments and residential properties.
For owner-users or investors looking for an established office asset in a broader commercial and residential context, the current building footprint and surrounding tenant mix provide a straightforward platform to evaluate occupancy and operations. Buyers can also review the property’s existing size and site dimensions to determine how it may align with their office needs or acquisition criteria.
Key Highlights
- Office building built in 1979
- Approximately 10,000 SF building area
- Approximately 47,916 SF lot size
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$183,744
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,674,880
$3.7M
Cap Rate 7%
$2,624,914
$2.6M
Cap Rate 9%
$2,041,600
$2.0M
Market Conditions
NOI Build-Up for 10,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$264.0K $26.40/SF
− Vacancy
−$19.0K −$1.90/SF
EGI
$245.0K $24.50/SF
− OpEx
−$61.2K −$6.12/SF
NOI
$183.7K $18.37/SF
Area
ZIP 92503
Vacancy
7.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,674,880
Cap Rate 7%
$2,624,914
Cap Rate 9%
$2,041,600
Alternative Uses
Best Use
Office B
$2.62M
$2.30M – $3.06M
NOI $183,744 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,899 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 92503, CA
90,011
Population
25,802
Households
3.5
Avg Household Size
35
Median Age
21%
College-Educated
81%
High-School Grad
34.3 sq mi
ZIP Area
2,624
Density / Sq Mi
$91,523
Median Household Income
$42,150
Median Earnings
$1,801
Median Rent
$556,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 1979, this office property offers an established building within a mixed national-tenant and residential setting.
Where is this office building located?
The property is located at 10015 Magnolia Riverside, CA.
What is the asking price?
The asking price for this property is $5,545,000.
What are key features of this property?
This property features: Office building built in 1979; Approximately 10,000 SF building area; Approximately 47,916 SF lot size
