Multi-Tenant Strip Retail
For Sale
Contact for pricing
277 East 4th Street, Perris, CA 92570
Built in 1979 with proximity to I-215 and regional transit corridors.
Property Size5,788 SF
Price / SF$207.15
Days on Market123
Property Features for 277 East 4th Street
General Information
Standard status
Active
Size
5,788 SF
Property subtype
Retail, Mixed Use
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
Tobias Commercial
(619) 787-4046
Listed By:
Brett Pack · License #CA 01866035
Source:
Crexi
Added: May 1
Changed: Aug 31
Last Checked: Aug 31 at 12:59AM
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 Tobias Commercial
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.
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 = 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
$82,964
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
6.92%
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%
$1,659,280
$1.7M
Cap Rate 7%
$1,185,200
$1.2M
Cap Rate 9%
$921,822
$921.8K
Market Conditions
NOI Build-Up for 5,788 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
$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 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%
$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
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
NOI $121,379 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
