Riverside Warehouse with Oversized
For Sale
Contact for pricing
1350 W Citrus St, Riverside, CA 92507
24,960 SF building on 1.18 acre lot for sale.
Property Size24,960 SF
Lot Size1.18 Acres
Price / SF$260.42
Days on Market1267
Property Features for 1350 W Citrus St
General Information
Standard status
Active
Size
24,960 SF
Class
B
Lot size
1.18 Acres
Property subtype
Industrial
Zoning
BPM
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Building Details
Year Built
1980
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Ashwill Associates Commercial Real Estate
(714) 456-0500
Listed By:
Kyle Williams · License #CA 02015940
Source:
Crexi
Added: Mar 8, 2023
Changed: Aug 18
Last Checked: Aug 24 at 10:25PM
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 Ashwill Associates Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 1350 W. Citrus St. in Riverside, this property features a ± 24,960 SF building on a + 1.18 acre lot (+/- 55,320 SF Lot). The building includes ± 3,000 SF of office space and a warehouse with a 24’ minimum clear height. It is equipped with two dock-high doors providing four loading positions. The property has 800 Amps, 277/480 volt power (verify). The sprinkler system is .42/2000 (verify). The zoning is BMP (Business and Manufacturing Park) – verify with the City of Riverside. The property is suitable for various uses, including industrial outdoor storage, contractor's yard, storage yard, trucking, truck storage, laydown yard, outdoor storage, indoor storage, development project, and distribution. It is located near the freeway and features truck doors. The property is an option for a 1031 Exchange. The property includes excess land and an oversized lot, and an IOS Yard. The APN is 247-140-026. A combined sale option includes APN #'s: 247-140-006, 247-140-007, 247-140-014.
Key Highlights
- ± 24,960 SF Building on + 1.18 Acre Lot with Excess Land/Oversized Yard
- Zoning: BMP (Business and Manufacturing Park) – verify with City of Riverside, suitable for Industrial Outdoor Storage (IOS) Yard
- Two (2) Dock High doors with four (4) loading positions
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
$373,227
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
5.74%
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%
$7,464,540
$7.5M
Cap Rate 7%
$5,331,814
$5.3M
Cap Rate 9%
$4,146,967
$4.1M
Market Conditions
NOI Build-Up for 24,960 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
$476.2K $19.08/SF
− Vacancy
−$37.1K −$1.49/SF
EGI
$439.1K $17.59/SF
− OpEx
−$65.9K −$2.64/SF
NOI
$373.2K $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%
$7,464,540
Cap Rate 7%
$5,331,814
Cap Rate 9%
$4,146,967
Alternative Uses
Best Use
Warehouse
$5.33M
$4.67M – $6.22M
NOI $373,227 @ 7.0% cap · market cap 5.74%
Second Best
Industrial
$4.39M
$3.84M – $5.12M
NOI $307,363 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$8.55M
$7.48M – $9.98M
NOI $598,788 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
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
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- Tri City Storage — 485 W La Cadena Dr, Riverside, CA 92501
Frequently Asked Questions
What type of property is this?
Warehouse - 24,960 SF building on 1.18 acre lot for sale.
Where is this warehouse located?
The property is located at 1350 W Citrus St Riverside, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: ± 24,960 SF Building on + 1.18 Acre Lot with Excess Land/Oversized Yard; Zoning: BMP (Business and Manufacturing Park) – verify with City of Riverside, suitable for Industrial Outdoor Storage (IOS) Yard; Two (2) Dock High doors with four (4) loading positions
