Multi-Tenant Storefront with
For Sale
$510,000
982 Ctr, Riverside, CA 92507
Property includes multiple storefront/auto-related units across separate parcels, plus a vacant lot that could support parking use.
Property Size2,900 SF
Days on Market119
Property Features for 982 Ctr
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Commercial
Building Details
Building Size
2,900 SF
Units
3
Listing Agency:
Century 21 Masters
Listed By:
Cheryl Ponto · License #01502628
(951) 723-7773
Source:
Elliman
Added: May 10
Changed: Sep 1
Last Checked: Sep 5 at 8:02AM
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 Century 21 Masters
Investment Insights
Based on property information with market context.
This property is offered for sale and is configured to support multiple concurrent businesses. 982 and 982-1/2 are together on a single parcel (#247-121-003), while 978 is on its own separate parcel (#247-121-002). In addition, there is a vacant lot parcel (#247-121-017) that could be used for parking.
Over time, the site has housed a variety of uses, including a flower shop, auto repair shop, real estate office, and barber shop. Bike and walk scores indicate a somewhat bikeable and somewhat walkable setting, with minimal transit.
The offering is well-suited to buyers looking for a multi-unit setup that includes both income potential from existing units and parking flexibility from the adjacent vacant lot.
Over time, the site has housed a variety of uses, including a flower shop, auto repair shop, real estate office, and barber shop. Bike and walk scores indicate a somewhat bikeable and somewhat walkable setting, with minimal transit.
The offering is well-suited to buyers looking for a multi-unit setup that includes both income potential from existing units and parking flexibility from the adjacent vacant lot.
Key Highlights
- Multi‑use property with multiple storefront/auto‑related units across separate parcels
- Parcels: 982 and 982‑1/2 on parcel #247‑121‑003
- Parcel #247‑121‑002: 978 on its own parcel
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
$37,642
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
7.38%
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%
$752,840
$752.8K
Cap Rate 7%
$537,743
$537.7K
Cap Rate 9%
$418,244
$418.2K
Market Conditions
NOI Build-Up for 2,900 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
$56.7K $19.56/SF
− Vacancy
−$2.9K −$1.02/SF
EGI
$53.8K $18.54/SF
− OpEx
−$16.1K −$5.56/SF
NOI
$37.6K $12.98/SF
Area
ZIP 92507
Vacancy
5.20%
Lease Rate
$19.56 /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%
$752,840
Cap Rate 7%
$537,743
Cap Rate 9%
$418,244
Alternative Uses
Best Use
Retail
$537.7K
$470.5K – $627.4K
NOI $37,642 @ 7.0% cap · market cap 7.38%
Second Best
Industrial
$510.2K
$446.4K – $595.2K
NOI $35,711 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$993.9K
$869.6K – $1.16M
NOI $69,571 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chevron
Shops & Services
11,292 visits/mo
0.5 miles
76
Shops & Services
5,692 visits/mo
0.5 miles
Demographics for 92507, CA
63,191
Population
19,739
Households
3.2
Avg Household Size
28
Median Age
32%
College-Educated
84%
High-School Grad
21.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$72,367
Median Household Income
$31,961
Median Earnings
$1,780
Median Rent
$503,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- RA Collision LLC — 725 Iowa Ave, Riverside, CA 92507
- Daniels Tire Service — 1410 W Citrus St, Riverside, CA 92507
- Meza Body Shop Supply 12 — 570 W La Cadena Dr # H1, Riverside, CA 92507
- Concourse Detail — 570 E La Cadena Dr unit 1-g, Riverside, CA 92507
- Freeway Tint — Rear Building, 570 E La Cadena Dr Ste E-2, Riverside, CA 92507
Frequently Asked Questions
What type of property is this?
Auto shop - Property includes multiple storefront/auto-related units across separate parcels, plus a vacant lot that could support parking use.
Where is this auto shop located?
The property is located at 982 Ctr Riverside, CA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Multi‑use property with multiple storefront/auto‑related units across separate parcels; Parcels: 982 and 982‑1/2 on parcel #247‑121‑003; Parcel #247‑121‑002: 978 on its own parcel
