230 3Rd StPerris, CA 92570

Property Details for 230 3Rd St

Year built

1954

Construction

TILT-UP CONCRETE

Lot size

0.34 AC

Property size (Sq ft)

805 SF

Zone code

M1

Property type

Office properties

Property subtype

Office buildings

APN

310-023-013

APU

310023013

Description

This 805-square-foot commercial building in downtown Perris, California, presents a compelling investment opportunity. Built in 1954, the single-story structure sits on a sizable 0.34-acre lot (14,810 square feet) and is zoned C1. Currently leased month-to-month for $1,100 per month gross, the property is ideal for a variety of uses, including real estate, beauty salons, accounting, or legal practices. Its location in Perris' urban village offers significant upside potential for future development. The property's convenient access to the city center and the Metrolink Station enhances its appeal. The asking price has been reduced to $399,000, representing a significant value proposition. The property's APN is 310-023-013. This is a rare chance to acquire a well-located commercial building in a growing California market. The building's single-story design and ample lot size provide flexibility for various business needs and potential expansion. This property offers a blend of immediate income generation and long-term development prospects, making it an attractive investment in Perris' thriving urban core. The address is 230 E 3rd St, Perris, CA 92570.

• CAP approach

  CAP return

  Valuation

  6%

  $221,247

  6.5%

  $204,228

  7%

  $189,640

• Comparable approach

  Method

  Valuation

  Relative Method

  $141,215

  Geo Method

  $283,336

• Alternative Use

  Use

  Valuation

  Residential

  $253,242

  Hospitality

  $231,968

  Educational

  $192,995

  Medical

  $199,632

  Retail

  $300,215

Location Insight

City

Perris

County

Riverside

State

California

Latitude

33.7837

Longitude

-117.225

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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