Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Light-Industrial Zoned Multifamily Property Title is generated by Realmo AI

    4439 Wade Avenue, Perris, CA 92571

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

    1.1-acre light-industrial zoned parcel with five existing units.

    Type:Multifamily
    Property size:
    6,150 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $203/SF
    Added:
    Jan 19, 2025
    Days on Market:
    488
    Last Refresh:
    Mar 16 at 3:34 pm

    Property Features for 4439 Wade Avenue

    General Information

    Standard status
    Active
    Size
    6,150 SF
    Lot size
    1.10 Acres
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Jonathan Minerick
    Jonathan Minerick

    Listing agent Jonathan Minerick License #2023001876

    Listing office homecoin.com

    Listing date Jan 19, 2025

    Source Crexi

    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 homecoin.com

    HighLights

    • 1.1 acre parcel zoned light‑industrial with 5 existing units, offering income potential or business opportunities.
    • Diverse unit sizes ranging from 630 sqft to 1,970 sqft with a total of 19 bedrooms and 8 bathrooms.
    • Features a pool and pool house, providing recreational amenities.
    • Ample parking with 7 marked stalls and additional unmarked parking for 10+ vehicles.
    • Unique bucolic setting with a variety of trees (Cedar, Birch, Eucalyptus, Loganberry) and a dedicated firepit.
    • Includes a 500 sqft storage unit for additional storage needs.

    Overview

    This 1.1-acre parcel is zoned light-industrial and features five existing units, a pool, a pool house, and a storage unit. The property is set in a rural location with Cedar, Birch, Eucalyptus, and Loganberry trees, and includes a full-circle driveway. Decorative sidewalks connect all units. There are seven marked parking stalls, with additional unmarked parking available for 10 or more vehicles. A dedicated firepit is also located on the property. Unit #1 is a single-story unit with 5 bedrooms and 2 bathrooms, totaling 1,280 square feet. Unit #2 is a single-story unit with 2 bedrooms and 1 bathroom, totaling 630 square feet. Unit #3 is a single-story unit with 4 bedrooms and 2 bathrooms, totaling 1,100 square feet. Unit #4 is a single-story unit with 2 bedrooms and 1 bathroom, totaling 670 square feet. Unit #5 is a two-story unit with a fireplace, 6 bedrooms and 2 bathrooms, totaling 1,970 square feet. The pool measures 30' x 15'. The pool house includes a half bathroom and measures 300 square feet. The storage unit measures 500 square feet.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $1.11M
    NOI $99,547 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.42M
    NOI $99,547 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.99M
    NOI $99,547 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $184.5k $30.00
    − Vacancy −$3.5k −$0.57
    EGI $181.0k $29.43
    − OpEx −$81.4k −$13.24
    NOI $99.5k $16.19
    6,150 SF · lease $30.00/SF/yr · vacancy 1.90% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $1.42M
    $1.24M – $1.66M (±1% cap)
    NOI $99,547 @ 7.0% cap · market cap 7.96%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.84M
    $1.61M – $2.15M (±1% cap)
    NOI $128,971 @ 7.0% cap · market cap 10.32%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Pharmacy Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.2538242
    Latitude
    33.8525916

    Nearby Similar for Sale

    • $525,000
      1,224 SF

      Perris Commercial Condo For Sale

      Commercial condo in Perris, CA, with easy freeway access.
      130 Walnut W Avenue, Perris, CA 92571
      View Details
    • $2,200,000
      7,500 SF

      Perris Retreat Facility and Worship

      13.88 acre retreat facility and place of worship.
      21871 Richard, Perris, CA 92570
      View Details
    • $1,999,000
      5,616 SF

      Perris Industrial Warehouse with Offices

      Industrial warehouse with offices, fenced yard, and included furnishings.
      3456 Webster, Perris, CA 92571
      View Details
    • $200,000

      Perris Land with Covered Structure

      Flat lot with a large covered structure, street access.
      20970 Rider, Perris, CA 92570
      View Details
    • $1,999,000
      5,616 SF

      Industrial Warehouse with Office Space

      5616 sqft warehouse with offices, mezzanine, and fenced yard.
      3456 Webster, Perris, CA 92571
      View Details
    • $525,000
      1,224 SF

      Perris Flex Space Condo

      Flex space condo with office area and easy freeway access.
      130 Walnut W Ave A-17, Perris, CA 92571
      View Details
    • $1,299,500
      1,876 SF

      New Commercial Building in Downtown

      High-visibility commercial building ideal for medical or professional use.
      378 W 4th, Perris, CA 92570
      View Details
    • $1,250,000
      5,895 SF

      Perris Multifamily Property with Development Potential

      1.1 acre lot with 5 units, pool, and development potential.
      4439 Wade Avenue, Perris, CA 92571
      View Details
    • Contact for pricing
      80,490 SF

      Freeway Plaza Retail Opportunity

      80,490 SF shopping center with freeway frontage in Perris.
      333 - 411 Wilkerson Ave, Perris, CA 92570
      View Details
    • $3,540,000
      12,000 SF

      Perris Industrial/Manufacturing Opportunity

      Industrial/Manufacturing property near key locations with access to major transportation.
      328 Malbert St., Unit B, Perris, CA 92570
      View Details
    • Contact for pricing

      NNN Ground Lease Raising Cane's

      15.5-year absolute NNN ground lease with rental increases.
      239 West Nuevo Road, Perris, CA 92571
      View Details
    • Contact for pricing
      11,680 SF

      Perris Industrial Property Available

      Industrial property available for sale or lease in Perris.
      1375 Nandina Ave, Perris, CA 92571
      View Details

    FAQs

    What type of property is this?
    Apartment building - 1.1-acre light-industrial zoned parcel with five existing units.
    Where is this apartment building located?
    The property is located at 4439 Wade Avenue Perris, CA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: 1.1 acre parcel zoned light‑industrial with 5 existing units, offering income potential or business opportunities.; Diverse unit sizes ranging from 630 sqft to 1,970 sqft with a total of 19 bedrooms and 8 bathrooms.; **Features a pool and pool house, providing recreational amenities.**
    (888) 400-2513 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Minerick
    Jonathan Minerick
    Real Estate License ID: 2023001876
    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
    4439 Wade Avenue, Perris, CA 92571
    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!