Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Meet Realmo: The Largest Hub of Commercial Real Estate in the US

    Over 1 million active listings and over 150 million property profiles

    SE of Watson Rd & Mapes Rd Bldg 3 Perris, CA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Freestanding logistics building with parking and office build-out potential.

    Type:INDUSTRIAL
    Property size:
    535,207 SF
    Lot size:
    76.31 Acres
    Added:
    May 26, 2021
    Days on Market:
    1806
    Last Refresh:
    Apr 5 at 8:31 pm

    Property Features for SE of Watson Rd & Mapes Rd Bldg 3

    General Information

    Standard status
    Active
    Size
    535,207 SF
    Lot size
    76.31 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at SE of Watson Rd & Mapes Rd Bldg 3 Contact us

    We can help!

    Listing Contact
    Peter McWilliams

    Listing agent Peter McWilliams

    Listing office JLL

    Listing date May 26, 2021

    Source Moodyscre

    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 JLL

    Overview

    Perris Logistics Center Freestanding Building

    This freestanding building, located in Perris Logistics Center South, offers a warehouse with 40' clearance. The property provides 309 automotive parking spaces and 152 trailer parking spaces. Office space can be built to suit, up to 10,000 square feet. The property has a total size of 535,207 square feet.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • SS Mini Storage — 509 N D St, Perris, CA 92570
    • Perris Mini Storage — 369 E 3rd St, Perris, CA 92570

    Map

    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.229
    Latitude
    33.7825

    Nearby Similar for Lease

    • $1.30 SF/Yr

      Perris Industrial Warehouse For Rent

      Well-maintained industrial warehouse with immediate freeway access available for lease.
      21414 Harvill Ave., Perris, CA 92570
      View Details
    • Contact for pricing

      Freestanding QSR Opportunity

      Freestanding and interior QSR spaces available with ample truck parking.
      23261 Cajalco Rd, Perris, CA 92570
      View Details
    • Contact for pricing

      Retail Space Near Major Retailers

      Retail spaces available for pre-leasing near Walmart, Target, Aldi.
      NWQ Citrus Ave & N. Perris Blvd, Perris, CA 92571
      View Details
    • Contact for pricing

      Perris Warehouse with Office Space

      330,735 SF warehouse featuring office space and ample parking.
      23840 Rider Street, Perris, CA, 92570
      View Details
    • Contact for pricing

      Perris Industrial Space For Lease

      Large industrial space available for lease in Perris, California.
      2100 Patterson Avenue, Perris, CA 92571
      View Details
    • Contact for pricing

      Perris Class A Facility

      Class A industrial building suitable for distribution and manufacturing.
      416 Harley Knox Blvd, Perris, CA 92571
      View Details
    • $1.10 SF/Yr

      Industrial Condos Near I-215 Freeway

      Industrial condos with easy access to transportation routes and I-215.
      3110 Indian Ave, #A, Perris , CA 92571
      View Details
    • Contact for pricing

      Perris Industrial Building For Lease

      104,071 SF industrial building for lease in Perris, CA.
      19651 Patterson Ave., Perris, CA, 92570
      View Details
    • Contact for pricing

      Proposed Industrial Building for Lease

      Proposed 142,835 SF industrial building on 8 acres.
      150 Harley Knox Blvd., Perris, CA, 92571
      View Details
    • Contact for pricing

      Perris Distribution Center Available

      Distribution center with immediate freeway access, estimated completion March 2024.
      675 W. Nance St., Perris, CA 92571
      View Details
    • Contact for pricing

      Perris Warehouse Space Available

      Warehouse space for rent in Perris, California.
      945-995 W Markham Street, Perris, California
      View Details
    • Contact for pricing

      Industrial Facility with Outdoor Storage

      Modern industrial facility with outdoor storage and office space.
      19972 Patterson Ave, Perris, CA 92570
      View Details

    FAQs

    What type of property is this?
    Warehouse - Freestanding logistics building with parking and office build-out potential.
    Where is this warehouse located?
    The property is located at SE of Watson Rd & Mapes Rd Bldg 3 Perris, CA.
    What are key features of this property?
    This property features: 40' Warehouse Clearance for optimal storage solutions.; Benefit from 152 Trailer Parking Spaces.; Includes 309 Automotive Parking Spaces.
    (909) 467-6860 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Peter McWilliams
    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

    Thank You for Inquiry
    SE of Watson Rd & Mapes Rd, Bldg 3, Perris, CA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!