Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2131- Perris Blvd Perris, CA 92571
    Back to Search
    Property profile & analytics

    2131- Perris Blvd, Perris, CA 92571

    View on Map
    • Retail properties & Spaces
    • 49,223 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2131- Perris Blvd

    Year built
    2002
    Property type
    Retail properties & Spaces
    Property subtype
    Auto shops

    Description

    This fee-simple retail property, a successful hand car wash in Perris, CA, offers a compelling investment opportunity. The 49,223 square foot facility, built in 2002 and renovated in 2006, sits on a 49,049 square foot lot at 2131 N Perris Blvd, 92571. Boasting a strong 6.86% cap rate and a $240,000 NOI, the property presents a significant return on investment. The asking price is $3,500,000 ($71.10/sq ft). The business has enjoyed 20 years of success, benefiting from a loyal customer base and its resilience to economic downturns. Significant value-add potential exists through leasing the vacant pad to complementary retail businesses, such as drive-thrus, capitalizing on the high traffic generated by the car wash and the densely populated area, including nearby large-scale logistics warehouses and new housing developments. The property features four buildings on one story and is suitable for a 1031 exchange. This is a rare chance to acquire a profitable, established business with substantial upside.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.226
    Latitude
    33.811

    Comparable in this City

    • Value Estimation by Request

      425 Rider St Ste C4

      AUTO REPAIR, GARAGE
      425 Rider St Ste C4, Perris, CA 92571-3231
      View Details
    • Value Estimation
      $1,940,000
      11,457 SF

      1697 Perris Blvd

      AUTO REPAIR, GARAGE
      1697 Perris Blvd, Perris, CA 92571-4721
      View Details
    • Value Estimation by Request
      1.41 Acres

      3553 Perris Blvd, Unit B5

      AUTO REPAIR, GARAGE
      3553 Perris Blvd, Perris, CA 92571-3111
      View Details
    • Value Estimation by Request
      5,000 SF

      Perris CA Perris Blvd. & Orange Ave

      Restaurants
      Perris CA Perris Blvd. & Orange Ave, Perris, CA 92571
      View Details
    • Value Estimation by Request
      3,831 SF

      239 Old Nuevo Rd

      Restaurants
      239 Old Nuevo Rd, Perris, CA 92571
      View Details
    • Value Estimation by Request
      33,233 SF

      Seq Ramona Expy & Nevada Rd

      Land
      0 Seq Ramona Expy & Nevada Rd, Perris, CA 92571
      View Details

    Similar Nearby for Sale

    • $1,250,000
      5,895 SF

      Perris Multifamily Property with Development Potential

      1.1 acre lot with 5 units, pool, and development potential.
      4439 Wade Ave, Perris, CA 92571
      View Details
    • Contact for pricing
      118,918 SF

      Perris Truck Facility Land

      2.73 acres, fully entitled truck facility with 96 stalls.
      SW Of Nevada Ave And Nance St, Perris, CA 92571
      View Details
    • Contact for pricing
      717,433 SF

      Freeway Frontage Development Land

      16.47 acres of land with freeway frontage.
      215 Fwy And Illinois Ave, Perris, CA 92571
      View Details
    • Contact for pricing

      Perris Industrial Land Opportunity

      Industrial land available for sale or lease in Perris.
      1210 W Markham St, Perris, CA 92571
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      50,000 SF

      Retail Space Available for Lease

      50000 sqft retail property for lease in Perris, CA.
      N Perris Blvd & Orange Ave, Perris, CA 92571
      View Details
    • Contact for pricing
      235,224 SF

      Perris Land with Parking Spaces

      5.4 acres of land with 178 trailer parking spaces.
      114 E Markham St, Perris, CA 92571
      View Details
    • Contact for pricing

      Perris Flex/Industrial/Retail Space Available

      Flex, industrial, and retail spaces for lease in Perris.
      675 W Nance St, Perris, CA 92571
      View Details
    • Contact for pricing

      Perris Distribution Center Available

      Distribution center with immediate freeway access, estimated completion March 2024.
      675 W Nance St, Perris, CA 92571
      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.
    2131- Perris Blvd
    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
    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

    Thank You for Inquiry
    2131- Perris Blvd, Perris, CA, 92571
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!