Industrial Property with Secured
For Sale
Contact for pricing
1668 Palmyrita Ave, Riverside, CA 92507
Three contiguous industrial buildings with a large secured, fenced yard and tenant occupancy for investor or owner-user flexibility.
Property Size43,470 SF
Price / SF$224.29
Days on Market62
Property Features for 1668 Palmyrita Ave
General Information
Standard status
Active
Size
43,470 SF
Property subtype
Industrial
Zoning
M-1 Hunter Business SP
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$447,805
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
MAB Realty
(951) 847-2226
Listed By:
Brian Tressen · License #CA 01850329
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 10 at 10:44AM
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 MAB Realty
Investment Insights
Based on property information with market context.
The property consists of three contiguous industrial buildings within the Hunter Industrial Park area. The asset includes functional industrial improvements and a large secured, fenced yard, creating flexibility for a range of warehouse and yard-supported operations. The building configurations are described as suitable for an investor, owner-user, or future repositioning approach. The offering is currently 100% occupied by multiple tenants, with staggered lease expirations.
Located in Riverside in the heart of the Inland Empire, the site is positioned for regional connectivity. The property provides convenient access to I-215, SR-60, I-10, and SR-91, supporting movement across major Southern California logistics, distribution, and employment hubs.
For buyers, this stabilized, income-producing industrial asset may appeal to investors looking for in-place occupancy and staggered lease terms, as well as owner-users seeking yard-inclusive space with multiple building configurations. The combination of warehouse improvements and a secured, fenced yard can help support tenants whose operations benefit from enclosed outdoor storage or flexible yard requirements.
Located in Riverside in the heart of the Inland Empire, the site is positioned for regional connectivity. The property provides convenient access to I-215, SR-60, I-10, and SR-91, supporting movement across major Southern California logistics, distribution, and employment hubs.
For buyers, this stabilized, income-producing industrial asset may appeal to investors looking for in-place occupancy and staggered lease terms, as well as owner-users seeking yard-inclusive space with multiple building configurations. The combination of warehouse improvements and a secured, fenced yard can help support tenants whose operations benefit from enclosed outdoor storage or flexible yard requirements.
Key Highlights
- Three contiguous industrial buildings in the Hunter Industrial Park area
- Large secured and fenced yard with functional industrial improvements
- Currently 100% occupied by multiple tenants with in‑place income
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
$650,007
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
6.67%
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%
$13,000,140
$13.0M
Cap Rate 7%
$9,285,814
$9.3M
Cap Rate 9%
$7,222,300
$7.2M
Market Conditions
NOI Build-Up for 43,470 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
$829.4K $19.08/SF
− Vacancy
−$64.7K −$1.49/SF
EGI
$764.7K $17.59/SF
− OpEx
−$114.7K −$2.64/SF
NOI
$650.0K $14.95/SF
Area
ZIP 92507
Vacancy
7.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
15.00%
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%
$13,000,140
Cap Rate 7%
$9,285,814
Cap Rate 9%
$7,222,300
Alternative Uses
Best Use
Warehouse
$9.29M
$8.13M – $10.83M
NOI $650,007 @ 7.0% cap · market cap 6.67%
Second Best
Industrial
$7.65M
$6.69M – $8.92M
NOI $535,300 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$14.90M
$13.04M – $17.38M
NOI $1,042,842 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tri City Storage — 485 W La Cadena Dr, Riverside, CA 92501
- SecurCare Self Storage — 1807 Columbia Ave, Riverside, CA 92507
- Lineage — 1001 Columbia Ave, Riverside, CA 92507
- Bill LOsee Eurotech performance — 1504 Columbia Ave STE 5, Riverside, CA 92507, United States
- Vino Veritas Vaults & Barrel House — 1660 Chicago Ave # N5, Riverside, CA 92507
Frequently Asked Questions
What type of property is this?
Warehouse - Three contiguous industrial buildings with a large secured, fenced yard and tenant occupancy for investor or owner-user flexibility.
Where is this warehouse located?
The property is located at 1668 Palmyrita Ave Riverside, CA.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: Three contiguous industrial buildings in the Hunter Industrial Park area; Large secured and fenced yard with functional industrial improvements; Currently 100% occupied by multiple tenants with in‑place income
