Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1405 Spruce St Riverside, CA 92507

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Ground floor office condo with mezzanine, move-in ready.

    Property size:
    2,433 SF
    Lot size:
    0.56 Acres

    Property Features for 1405 Spruce St

    General Information

    Size
    2,433 SF
    Lot size
    0.56 Acres

    We can help!

    Listing Contact
    Joe A. Stance, Ccim
    Joe A. Stance, Ccim
    Source: Moodyscre

    Listing Agency: Stance Commercial Real Estate Listing Agent: Joe A. Stance, Ccim

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

    Learn more

    Property Insight Report

    Overview

    Riverside Office Condo For Sale

    This is a commercial condo space available for sale, suitable for an owner-user. It features a ground floor office area with an additional mezzanine office level. The property is professionally managed and is move-in ready. The property has a size of 3486 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Top Blade Custom ... General Contractor IBEW Local 440 Advocacy Group Sabnani Suresh DO Physician Dr. Evette Yanez-Cruz Physician Maids Modern Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.3423073
    Latitude
    33.9913161

    Nearby Similar for Sale

    • $875,000
      4,461 SF

      Riverside Multi-Unit Income Property

      Five-unit residential property in prime Riverside location with rental potential.
      4481 13Th St, Riverside, CA 92501
      View Details
    • $999,000
      800 SF

      Riverside Commercial Property with Redevelopment Potential

      Prime location with redevelopment potential in Riverside's North Main District.
      2350 Main St, Riverside, CA 92501
      View Details
    • $729,000
      1,152 SF

      Riverside Commercial Property for Sale

      Commercial property in a prime location with business potential.
      10397 Hole Ave, Riverside, CA 92505
      View Details
    • $85,000
      1,328 SF

      Riverside Turnkey Food Business Opportunity

      Turnkey food and beverage business with full commercial kitchen.
      1889 University Ave, Riverside, CA 92507
      View Details
    • $775,000
      2,448 SF

      Riverside Duplex on Corner Lot

      Charming duplex with income potential in a desirable Riverside location.
      11711 Carmine St, Riverside, CA 92505
      View Details
    • $999,999
      2,470 SF

      Riverside Triplex: Turn-Key Investor Opportunity

      Remodeled triplex near universities, offering strong rental income.
      6800 Arlington Ave, Riverside, CA 92504
      View Details
    • $675,000
      2,008 SF

      Riverside Duplex on Large Lot

      Spacious duplex on 0.35-acre lot, ideal for investors.
      10881 Sunnyslope Dr, Riverside, CA 92505
      View Details
    • $495,000

      Riverside Drive-Thru Restaurant Opportunity

      Established drive-thru restaurant with seating and ample parking.
      10501 Hole Ave, Riverside, CA 92505
      View Details
    • $120,000
      1,730 SF

      Turnkey Restaurant Opportunity Near UCR

      Fully operational restaurant near UC Riverside with high visibility.
      1201 University Ave, Riverside, CA 92507
      View Details
    • New
      $655,000
      1,960 SF

      Riverside Duplex with Pool

      Duplex featuring a pool, two units, and fenced yards.
      4041 Mcarthur Rd, Riverside, CA 92503
      View Details
    • $2,300,000
      6,056 SF

      Five Houses on 1.95 Acres

      Five houses in Riverside with income potential on 1.95 acres.
      17305 Sage Ave, Riverside, CA 92504
      View Details
    • $720,000
      1,681 SF

      Updated Duplex in Riverside, CA

      Updated duplex with income potential in Riverside, California.
      7563 Lincoln Ave, Riverside, CA 92504
      View Details

    FAQs

    What type of property is this?
    Office units - Ground floor office condo with mezzanine, move-in ready.
    Where is this office units located?
    The property is located at 1405 Spruce St Riverside, CA.
    What are key features of this property?
    This property features: - Perfect for owner-user; - Move-in ready condition; - Ground floor office space
    (909) 772-1212 Call to check price and availability
    Request Owner's contact information
    1405 Spruce St Riverside, CA 92507
    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.
    1405 Spruce St
    Riverside, CA 92507
    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
    1405 Spruce St Riverside, CA 92507
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joe A. Stance, Ccim
    Joe A. Stance, Ccim
    Real Estate License ID: 01788741
    (909) 772-1212
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!