Building Details

Year Built 1979

Stories 1

Units 9

Tenancy Multi

Listing Agency: Tobias Commercial

Listed By: Brett Pack · License #CA 01866035 Show Phone

Source: Crexi

Added: May 1 Changed: Oct 3 Last Checked: Oct 16 at 7:13AM

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Investment Insights

Based on property information with market context.

Located at 277 East 4th Street in Perris, California, this 5,788-square-foot retail center contains multiple tenant spaces. Constructed in 1979, the property offers a configuration described as suitable for retail, medical, and administrative services.

The center is positioned near I-215 and regional transit corridors. Its location within Perris places the property in the Inland Empire, providing access to established transportation connections and the surrounding city market.

Key Highlights

• 5,788 SF retail strip center
• Multi‑tenant configuration
• Built in 1979

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$82,964

Cap Rate

6.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,659,280 $1.7M

Cap Rate 7%

$1,185,200 $1.2M

Cap Rate 9%

$921,822 $921.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,788 SF

Gross rent

$125.0K $21.60/SF

− Vacancy

−$6.5K −$1.12/SF

EGI

$118.5K $20.48/SF

− OpEx

−$35.6K −$6.14/SF

NOI

$83.0K $14.33/SF

Area

Riverside County, CA

Vacancy

5.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,659,280

Cap Rate 7%

$1,185,200

Cap Rate 9%

$921,822

Alternative Uses

Best Use

Retail

$1.19M

$1.04M – $1.38M (±1% cap)

NOI $82,964 @ 7.0% cap · market cap 6.92%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.73M

$1.52M – $2.02M (±1% cap)

NOI $121,379 @ 7.0% cap · market cap 10.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mc Neilly Steel ... Construction Company Gracia Infinita Intl. ... Association Or Organization Iglesia Apostólica Aliento ... Church Record Nations Storage Facility Perris Professional Plaza Business Service Center

Suggested Use

Top Pick Law Firm Daycare Center (Bike/Boat/Book/etc) Store Parking Lot & Garage Carpet & Flooring Store Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

848

Businesses Nearby

64k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 51% Dining 46% Electronics 3%

Bank of America Shops & Services

19,916 visits/mo 0.1 miles

Winchell's Donut House Dining

10,856 visits/mo 0.1 miles

Del Taco Dining

7,685 visits/mo 0.3 miles

AutoZone Shops & Services

7,190 visits/mo 0.2 miles

Little Caesars Pizza Dining

6,451 visits/mo 0.1 miles

Demographics for 92570, CA

59,015

Population

15,590

Households

3.8

Avg Household Size

32

Median Age

10%

College-Educated

68%

High-School Grad

106.3 sq mi

ZIP Area

555

Density / Sq Mi

$77,570

Median Household Income

$34,671

Median Earnings

$1,461

Median Rent

$419,800

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - Built in 1979 with proximity to I-215 and regional transit corridors.

Where is this strip mall located?

The property is located at 277 East 4th Street Perris, CA.

What is the asking price?

The asking price for this property is $1,199,000.

What are key features of this property?

This property features: 5,788 SF retail strip center; Multi‑tenant configuration; Built in 1979