Flex Space With
For Sale
$525,000
130 Walnut W Avenue, Perris, CA 92571
Commercial Sale, Perris, CA
Property Size1,224 SF
Lot Size0.03 Acres
Price / SF$428.92
Days on Market224
Property Features for 130 Walnut W Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
215 Freeway exit on Ramona left, Right on Perris, Right on Walnut.
Subdivision
SRCAR - Southwest Riverside County
Standard status
Active
APN
305031017
Lot size
0.03 Acres
Utilities
Cooling system
Central Air
Listing Agency:
Realty Masters & Associates
(951) 384-6600
Listed By:
MARIA ISABEL RAMIREZ · License #01737267
(951) 796-5315
Added: Jan 14
Changed: Aug 24
Last Checked: Aug 26 at 3:06PM
MLS# IV26008763
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space condominium includes a 1,180 SF site lot and 1,224 SF office area. Built in 2005, the property features central air, a loading area, a second-floor loft room, and two additional rooms. Two parking spaces are provided, supporting a compact commercial layout with both office and operational components.
The property is located in Perris within the Walnut Business Condos and offers access to nearby shopping centers and the 215 freeway. Zoning is identified as L1, with a manufactured-light use code. HOA management is associated with the condominium property.
The property is located in Perris within the Walnut Business Condos and offers access to nearby shopping centers and the 215 freeway. Zoning is identified as L1, with a manufactured-light use code. HOA management is associated with the condominium property.
Key Highlights
- 1,224 SF office area on a 1,180 SF site lot
- L1 zoning with manufactured‑light use code
- Second‑floor loft room plus two extra rooms
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
$19,231
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
3.66%
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%
$384,620
$384.6K
Cap Rate 7%
$274,729
$274.7K
Cap Rate 9%
$213,678
$213.7K
Market Conditions
NOI Build-Up for 1,224 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
$28.1K $22.92/SF
− Vacancy
−$2.4K −$1.97/SF
EGI
$25.6K $20.95/SF
− OpEx
−$6.4K −$5.24/SF
NOI
$19.2K $15.71/SF
Area
Riverside County, CA
Vacancy
8.60%
Lease Rate
$22.92 /SF/Yr
Expense Ratio
25.00%
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%
$384,620
Cap Rate 7%
$274,729
Cap Rate 9%
$213,678
Alternative Uses
Best Use
Office B
$274.7K
$240.4K – $320.5K
NOI $19,231 @ 7.0% cap · market cap 3.66%
Second Best
Industrial
$143.6K
$125.6K – $167.5K
NOI $10,051 @ 7.0% cap · market cap 1.91%
Theoretical Best
Office A
$366.7K
$320.9K – $427.8K
NOI $25,668 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92571, CA
59,450
Population
14,792
Households
4
Avg Household Size
29
Median Age
12%
College-Educated
70%
High-School Grad
39.1 sq mi
ZIP Area
1,520
Density / Sq Mi
$85,746
Median Household Income
$37,465
Median Earnings
$2,005
Median Rent
$430,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Condo flex space with light-industrial zoning, central air, loading access, and a second-floor loft.
Where is this flex space located?
The property is located at 130 Walnut W Avenue Perris, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,224 SF office area on a 1,180 SF site lot; L1 zoning with manufactured‑light use code; Second‑floor loft room plus two extra rooms
