Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    38 Bundy Canyon Rd Wildomar, CA 92595

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 38 Bundy Canyon Rd

    Property type
    Land

    Description

    This exceptional 38-acre parcel, located at 38 Bundy Canyon Rd, Wildomar, CA 92595 (APN 366-320-054), presents a remarkable opportunity for high-density residential development. The land, encompassing 1,656,586 square feet, is zoned for residential use and offers a compelling value proposition at $1.51 per square foot. Its strategic location less than one mile from the 15 Freeway ensures excellent accessibility. A May 2014 Wildomar City Council pre-application initiated a General Plan Amendment to designate the property for high-density residential use, suggesting a potential for approximately 280 units. This aligns with the city's ongoing infrastructure improvements, including the widening of Bundy Canyon Road to a four-lane thoroughfare connecting the 15 and 215 Freeways, addressing increasing traffic volume. The property's potential for significant returns makes it an attractive investment for developers seeking a prime location with a clear path towards high-density residential construction. This is a rare opportunity to capitalize on a well-positioned site with a history of positive engagement with the city's planning department. The asking price is $2,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wildomar
    County
    Riverside
    State
    California
    Longitude
    -117.258
    Latitude
    33.6273

    Comparable in this City

    • Value Estimation by Request

      Elsinore Hts Dr

      Land
      0 Elsinore Hts Dr, Wildomar, CA 92595
      View Details
    • Value Estimation by Request
      12.00 Acres

      34920 Mission Trl

      Land • 12.00 Acres
      34920 Mission Trl, Wildomar, CA 92595
      View Details
    • Value Estimation by Request
      0.21 Acres

      33°38'56.8"N

      Land • 0.21 Acres
      0 33°38'56.8"N, Wildomar, CA 92595
      View Details
    • Value Estimation by Request
      4.45 Acres

      Jana Ln

      Land • 4.45 Acres
      0 Jana Ln, Wildomar, CA 92595
      View Details
    • Value Estimation by Request
      2.65 Acres

      34281 Monte Vista Dr

      Land • 2.65 Acres
      34281 Monte Vista Dr, Wildomar, CA 92595
      View Details
    • Value Estimation by Request
      5.68 Acres

      34281 Monte Vista Dr

      Land • 5.68 Acres
      34281 Monte Vista Dr, Wildomar, CA 92595
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Wildomar, CA Development Land

      150+ Unit Apartment Complex Opportunity
      0 Elsinore Hts Dr, Wildomar, CA 92595
      View Details
    • $1,500,000
      157 SF

      Wildomar Land Parcel For Sale

      157.69 acres of land in Wildomar, California.
      157.69 Ac Chico Hl Rd, Wildomar, CA 92595
      View Details
    • $1,150,000
      438,214.00 Acres

      10-Acre Lot with Development Potential

      Large lot with flat usable acres and development potential.
      23700 Oak Circle Dr, Wildomar, CA 92595
      View Details
    • $350,000

      Land for Sale

      Land available for purchase.
      20787 Alameda Del Monte, Wildomar, CA 92595
      View Details
    • Contact for pricing
      3.00 Acres

      Wildomar Commercial Land Opportunity

      3-acre prime commercial land, C-1/C-P zoning.
      0 Nwc Prielipp Rd & Elizabeth Ln, Wildomar, CA 92595
      View Details
    • $30,000

      Wildomar Land Parcel For Sale

      Land parcel in Wildomar with development potential and convenient location.
      32962 West Ave, Wildomar, CA 92595
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Land Available For Ground Lease

      Land available for ground lease or build to suit.
      Swc Clinton Keith Rd. & Stable Ln Rd, Wildomar, CA 92595
      View Details
    • Contact for pricing
      6 SF

      Land Off I-215 Freeway

      Land available for rent off the I-215 Freeway.
      Neq Bundy Cyn Rd. & 215 Fwy, Wildomar, CA 92595
      View Details
    • $1.15 SF/Yr
      51 SF

      Interstate Business Park Space

      Industrial space available for lease in Interstate Business Park.
      24335 Prielipp Rd | Wildomar, Wildomar, CA 92595
      View Details
    • Contact for pricing
      68,858 SF

      Lake Elsinore Retail Center Opportunity

      Prime Retail Space Available in Wildomar, CA
      2495 Lakeshore Dr, Lake Elsinore, CA 92595
      View Details
    • Contact for pricing
      1,446 SF

      Wildomar Retail Space For Rent

      Retail space available in Wildomar, California, approximately 1,446 square feet.
      34878 Monte Vista Dr, Wildomar, CA 92595
      View Details
    • Contact for pricing
      27,000 SF

      Retail Space in Wildomar Trade

      Retail space available in Wildomar trade area with strong traffic.
      32475 Clinton Keith Rd | Wildomar, Wildomar, CA 92595
      View Details
    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.
    38 Bundy Canyon Rd
    Wildomar, CA 92595
    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

    Google sign-in failed. Please try again or use another login method.