Add Listing
    For Lease
    • 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

    1654-1680 Illinois Ave Perris, CA 92571

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Modern warehouse space for lease in prime Perris location.

    Lot size:
    79,044 SF

    Property Features for 1654-1680 Illinois Ave

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    79,044 SF
    Total Rate
    7245.7

    Building Details

    Buildings
    2

    Spaces For Lease

    at 1654-1680 Illinois Ave, Perris, CA 92571 Contact us
    Unit Suite 14/13

    $13 /Mo

    Size
    4,824 SF
    Contact us
    Unit Suite 19/20

    $1.10 /Mo

    Size
    4,824 SF
    Contact us
    Unit 1680 Suite 20

    $13 /Mo

    Size
    2,112 SF
    Contact us

    We can help!

    Listing Contact
    Scott Stewart
    Scott Stewart

    Listing Agency: Lee & Associates Listing Agent: Scott Stewart

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

    Learn more

    Overview

    Classic Pacific Business Park offers exceptional warehouse space for lease in Perris, California. This two-building complex boasts a total of 79,044 square feet of versatile space, with multiple tenancy options available. Units range from a minimum of 2,112 square feet to a maximum contiguous space of 4,824 square feet, providing flexibility for businesses of various sizes. Currently, 11,760 square feet is immediately available. The property features high ceilings at 18 feet, ideal for storage and efficient operations. Ample parking is provided, with a ratio of 3.2 to 3.7 spaces per 1,000 square feet. The property includes a convenient coffee bar and reception area, enhancing the overall tenant experience. Located at 1654-1680 Illinois Ave, Perris, CA 92571, in Riverside County, this property offers easy access to major transportation routes. Power options range from 200 to 400 amps, catering to diverse operational needs. The property is classified as both office and industrial, making it suitable for a wide array of businesses. Don't miss this opportunity to secure your ideal warehouse space in a thriving location. Contact us today to schedule a viewing and explore the possibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.1879129
    Latitude
    33.7474934

    Nearby Similar for Lease

    • Contact for pricing
      63,000 SF

      Retail Space Near Major Retailers

      Retail spaces available for pre-leasing near Walmart, Target, Aldi.
      N Perris Blvd, Perris, CA 92571
      View Details
    • Contact for pricing
      1,600 SF

      Freestanding QSR Opportunity

      Freestanding and interior QSR spaces available with ample truck parking.
      23261 Cajalco Rd, Perris, CA 92570
      View Details
    • $1.30 SF/Yr
      13,660 SF

      Perris Industrial Warehouse For Rent

      Well-maintained industrial warehouse with immediate freeway access available for lease.
      21414 Harvill Ave, Perris, CA 92570
      View Details
    • $1.10 SF/Yr
      11,400 SF

      Perris Warehouse with Heavy Power

      Industrial warehouse space available for sublease through January 2027.
      2050 Trumble Rd, Perris, CA 92571
      View Details
    • $1.05 SF/Yr
      43,298 SF

      Perris Industrial Warehouse Space

      Class A industrial building with modern amenities available for lease.
      69 Commerce Dr, Perris, CA 92571
      View Details
    • Contact for pricing
      110,529 SF

      Perris Distribution Center Available

      Distribution center with immediate freeway access, estimated completion March 2024.
      675 W Nance St, Perris, CA 92571
      View Details
    • $1.25 SF/Yr
      97,156 SF

      Perris Landmark Plaza Retail Space

      Prime retail spaces with high visibility and foot traffic.
      476 E 4Th St, Perris, CA 92570
      View Details
    • Contact for pricing

      Perris Distribution Center For Lease

      Industrial space for lease in a prime distribution center location.
      10 Prologis Perris Distribution Ctr, Perris, CA 92571
      View Details
    • Contact for pricing
      78,180 SF

      Perris Retail Property For Rent

      Retail property with freeway visibility in Perris, California.
      Seq Nuevo Rd. & I-215 Fwy, Perris, CA 92570
      View Details
    • Contact for pricing
      16,834 SF

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces available with freeway signage.
      Nec Cajalco Expy & Harvill Ave, Perris, CA 92570
      View Details
    • $1.10 SF/Yr
      19,456 SF

      Industrial Condos Near I-215 Freeway

      Industrial condos with easy access to transportation routes and I-215.
      3110 Indian Ave, Perris, CA 92571
      View Details
    • Contact for pricing

      Industrial Space with Office

      Light industrial space available for rent, includes office area.
      3458 Webster Ave, Perris, CA 92571
      View Details

    FAQs

    What type of property is this?
    Distribution property - Modern warehouse space for lease in prime Perris location.
    Where is this distribution property located?
    The property is located at 1654-1680 Illinois Ave Perris, CA.
    What is the lease rate?
    The lease rate is $1.10-$13 SF/Yr.
    What are key features of this property?
    This property features: 1654 Illinois Ave: 42,222 SF building.; 1680 Illinois Ave: 36,822 SF building.; 79,044 SF total building area.
    (951) 445-4514 Call to check price and availability
    Request Owner's contact information
    1654-1680 Illinois Ave Perris, CA 92571
    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.
    1654-1680 Illinois Ave
    Perris, CA 92571
    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
    1654-1680 Illinois Ave Perris, CA 92571
    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 Scott Stewart
    Scott Stewart
    Real Estate License ID: 01342575
    (951) 445-4514 (951) 445-4500
    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!