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    416 W 6Th St Corona, CA 92882

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    For Sale
    Pending
    $2,800,000

    Commercial property with stable tenants in Corona's commercial core.

    Lot size:
    0.51 Acres

    Property Features for 416 W 6Th St

    General Information

    Property type
    Industrial
    Standard status
    Pending
    Lot size
    0.51 Acres

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    Listing Contact
    Malvin Rompas
    Source: Elliman

    Listing Agent: Malvin Rompas

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Corona Commercial Investment Opportunity

    Located in the commercial area of Corona, California, this commercial real estate property features a 100% occupancy rate with four stable tenants. The property is suitable for investors seeking long-term holdings and investment immigration opportunities. The tenant mix includes a car wash, restaurant, car film shop, car interior shop, and oil change repair shop. Investment highlights include good rental returns, long-term stable tenants, timely rent payment, and low maintenance costs. Situated in the heart of Corona City, the property benefits from high traffic and proximity to the city hall, making it suitable for various business operations. It is a highly exposed corner street property next to the main road, ensuring convenient transportation. The surrounding area is characterized by dense shops and high traffic, providing a stable customer base for tenants. Within a 5-minute drive, there are numerous shopping centers, banks, and supermarkets. The area has developed into a complete automobile-related industrial chain, positioning it for long-term investment and benefiting from Corona's economic growth. The Corona City Government is actively promoting business and infrastructure development, with expectations of rising land prices and rents. The property is located close to Highways 91 & 15, offering convenient logistics and attracting commercial tenants. It is located on 6th Street, with high traffic volume and quick access to Highway 91, providing access to Los Angeles and Orange County. Multiple bus stops are within walking distance.
    Location Intelligence

    Current Use by Public Records

    Corona Express Wash ... Car Wash Super Detailing Car ... Car Wash Hortensia's Flower Shop (Bike/Boat/Book/etc) Store Taqueria Oaxaca Restaurant Hernandez Upholstery Furniture & Home Goods

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Riverside
    State
    California
    Longitude
    -117.5709911
    Latitude
    33.8754524

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    FAQs

    What type of property is this?
    Car wash - Commercial property with stable tenants in Corona's commercial core.
    Where is this car wash located?
    The property is located at 416 W 6Th St Corona, CA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - Significant price reduction: Over $700,000 price drop.; - Prime commercial location on 6th St. in Corona with high traffic.; - 100% occupancy with stable, long-term tenants.
    (626) 382-1688
    Request Owner's contact information
    416 W 6Th St Corona, CA 92882
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    Corona, CA 92882
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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
    416 W 6Th St Corona, CA 92882
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    We can help!
    Listing Contact
    Malvin Rompas
    (626) 382-1688 (949) 415-4558 (626) 492-4216
    Learn more
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