Commercial Space on Grand
For Sale
$449,900
17307 Grand, Lake Elsinore, CA 92530
High-visibility corner lot with lake and mountain views.
Property Size400 SF
Price / SF$483.76
Days on Market102
Property Features for 17307 Grand
General Information
Standard status
Active
Size
400 SF
Property subtype
Commercial
Building Details
Building Size
400 SF
Year Built
1975
Listing Agency:
Farnam & Associates Real Estate
(844) 432-7626
Listed By:
SCOTT FARNAM · License #01332087
(844) 432-7626
Source:
Elliman
Added: May 18
Changed: Aug 13
Last Checked: Aug 26 at 12:26PM
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 Farnam & Associates Real Estate
Investment Insights
Based on property information with market context.
This commercial property is located on a high-visibility corner lot along Grand Avenue. It features lake and mountain views. The property is adjacent to an approved housing development, suggesting potential for future growth and increased traffic. Currently operating as a hair salon, the space is suitable for a variety of commercial uses. Approved 2012 plans are included to expand the building to approximately 930 square feet.
Key Highlights
- High‑visibility corner lot on busy Grand Ave.
- Enjoy stunning lake and mountain views.
- Adjacent to an approved housing development, offering exceptional future growth potential.
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
$13,330
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
2.96%
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%
$266,600
$266.6K
Cap Rate 7%
$190,429
$190.4K
Cap Rate 9%
$148,111
$148.1K
Market Conditions
NOI Build-Up for 930 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
$20.1K $21.60/SF
− Vacancy
−$1.0K −$1.12/SF
EGI
$19.0K $20.48/SF
− OpEx
−$5.7K −$6.14/SF
NOI
$13.3K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$266,600
Cap Rate 7%
$190,429
Cap Rate 9%
$148,111
Alternative Uses
Best Use
Retail
$190.4K
$166.6K – $222.2K
NOI $13,330 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$278.6K
$243.8K – $325.1K
NOI $19,503 @ 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
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 92530, CA
59,098
Population
18,502
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
77.1 sq mi
ZIP Area
767
Density / Sq Mi
$84,799
Median Household Income
$41,138
Median Earnings
$1,705
Median Rent
$467,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-visibility corner lot with lake and mountain views.
Where is this retail space located?
The property is located at 17307 Grand Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: High‑visibility corner lot on busy Grand Ave.; Enjoy **stunning lake and mountain views.**; Adjacent to an approved housing development, offering exceptional future growth potential.
