Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Perris Land For Sale Title is generated by Realmo AI

    21871 Richard Street, Perris, CA 92570

    View on Map
    Claim this Listing
    For Sale
    $2,200,000

    Commercial land available in Perris, California.

    Added:
    Sep 28, 2023
    Days on Market:
    979
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 21871 Richard Street

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1961

    We can help!

    Listing Contact
    Zoram Luna
    Zoram Luna

    Listing agent Zoram Luna License #01743140

    Listing office Realty Masters & Associates

    Listing date Sep 28, 2023

    Source Evrealestate

    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 Realty Masters & Associates

    HighLights

    • Central air conditioning and central heating for year‑round comfort
    • Fenced yard featuring block, chain link, and wrought iron options
    • Wall/window unit(s) cooling available
    • Located in Riverside County
    • Built in 1961

    Overview

    This commercial land is available for sale. The property is located on Richard Street in Perris, California. To reach the property, exit left onto Central Avenue and turn right onto Richard Street. The county for this location is Riverside.
    Location Intelligence

    Current Use by Public Records

    RESTORATION AGAPE Resort Ministerio De Restauracion ... Food Bank

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Kitchen & Bath Showroom Storage Facility HVAC Service Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.277921
    Latitude
    33.7343242

    Nearby Similar for Sale

    • $1,999,000
      5,616 SF

      Perris Industrial Warehouse with Offices

      Industrial warehouse with offices, fenced yard, and included furnishings.
      3456 Webster, Perris, CA 92571
      View Details
    • $525,000
      1,224 SF

      Perris Commercial Condo For Sale

      Commercial condo in Perris, CA, with easy freeway access.
      130 Walnut W Avenue, Perris, CA 92571
      View Details
    • $2,200,000
      7,500 SF

      Perris Retreat Facility and Worship

      13.88 acre retreat facility and place of worship.
      21871 Richard, Perris, CA 92570
      View Details
    • $675,000

      Perris Commercial Land Opportunity

      0.75 acres in established business park, Perris, California.
      0 Redlands Ave, Perris, CA 92571
      View Details
    • $370,000

      Commercial Land in Perris, CA

      Prime commercial land opportunity near Downtown Perris, California.
      0 G Street, Perris, CA 92570
      View Details
    • $350,000

      Perris Commercial Land Opportunity

      Three parcels in Central Perris Redevelopment area, flexible zoning.
      603 S D, Perris, CA 92570
      View Details
    • $395,000

      Perris Highway Frontage Land

      Vacant land with utilities and highway visibility in Perris.
      27520 State Highway 74, Perris, CA 92570
      View Details
    • $980,000

      Perris Land in Opportunity Zone

      5.3 acres in an Opportunity Zone near I-215.
      24000 Nuevo Road, Perris, CA 92570
      View Details
    • $695,000

      Perris Commercial Land on Highway 74

      2.63 acre commercial parcel with high visibility and dual access.
      0 Highway 74, Perris, CA 92570
      View Details
    • $399,900

      Perris Land Investment Opportunity

      4 acres of flat, usable land in Perris, CA.
      27200 San Jacinto, Perris, CA 92571
      View Details
    • $7,400,000
      1,000 SF

      Prime 49-Acre Development Opportunity

      49 acres with high visibility, infrastructure, and growth potential.
      19255 Wood, Perris, CA 92570
      View Details
    • $219,000

      Commercial Land in Perris, CA

      Commercial property right off the main street in Perris.
      2 W 4th Street, Perris, CA 92570
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available in Perris, California.
    Where is this commercial land located?
    The property is located at 21871 Richard Street Perris, CA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Central air conditioning and central heating for year‑round comfort; Fenced yard featuring block, chain link, and wrought iron options; Wall/window unit(s) cooling available
    (909) 725-3339
    We can help!
    Listing Contact
    Zoram Luna
    Zoram Luna
    Real Estate License ID: 01743140
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    21871 Richard Street, Perris, CA 92570
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!