Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1035 Montecito Dr Corona, CA 92879-1765
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1035 Montecito Dr Corona, CA 92879-1765

    View on Map
    • Office buildings
    • 4,686 SF
    • 0.11 lot acres
    Off-Market
    Last Sale Mar 27, 2024
    $1,800,000
    Property ID
    US10-1923341
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,800,000
    Show details
    Cap Rate Potential
    4.3%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Sattva Homeopathy / Alternative Medicine Practice
    • Jessica Schugardt Reiki Healer and Intuitive Mentor / Alternative Medicine Practice
    • Jenny Craig Weight Loss Center / Weight Loss Service / Health Consultant

    Property Details for 1035 Montecito Dr

    Year built
    2004
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    4,686 SF
    Property type
    Office buildings
    APN
    111-290-068
    APU
    111290068

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,800,000
      ML approach
      $1,800,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,285,000
      6.5%
      $1,190,000
      7%
      $1,105,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,799,000
      Market price range: $811k - $1.80M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,420,000
      Current use
      AUTO REPAIR, GARAGE
      $2,025,000
      Change: +43% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,385,000
      Change: -2% Conversion: Difficult
      RETAIL STORES
      $1,325,000
      Change: -7% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Riverside
    State
    California
    Longitude
    -117.542
    Latitude
    33.8714
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $24,123
    $504,996
    $1,641,261
    $2,146,257
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      1451 Rimpau Ave Ste, Unit 105

      OFFICE BUILDING
      1451 Rimpau Ave Ste, Corona, CA 92879-7521
      View Details
    • Value Estimation by Request

      980 Montecito Dr Ste, Unit 201

      OFFICE BUILDING
      980 Montecito Dr Ste, Corona, CA 92879-1796
      View Details
    • Value Estimation by Request

      495 Rincon St Ste, Unit 214

      OFFICE BUILDING
      495 Rincon St Ste, Corona, CA 92879-1379
      View Details
    • Value Estimation by Request

      1655 6th St Ste A4

      OFFICE BUILDING
      1655 6th St Ste A4, Corona, CA 92879-1719
      View Details
    • Value Estimation by Request

      361 Corporate Ter Cir

      OFFICE BUILDING
      361 Corporate Ter Cir, Corona, CA 92879-6028
      View Details
    • Value Estimation by Request

      341 Corporate Ter Cir, Unit 101

      OFFICE BUILDING
      341 Corporate Ter Cir, Corona, CA 92879-6028
      View Details

    Similar Nearby for Sale

    • $9,000,000

      Corona Office/Medical Investment Opportunity

      8,315 SF building in Corona, CA, Kaiser Affiliate.
      2370 Anselmo Dr, Corona, CA 92879
      View Details
    • Contact for pricing

      Three-Story Office Building in Corona

      Corporate image office building near downtown Corona with ample parking.
      255 E Rincon St, Corona, CA 92879
      View Details
    • Contact for pricing

      Professional Office Building For Sale

      Three-story office building with convenient access to amenities and freeways.
      355 East Rincon St, Corona, CA 92879
      View Details
    • $420,000
      600 SF

      Corona Commercial Land For Sale

      Commercial land in Corona, close to Metro Train Station.
      111 N Victoria Ave, Corona, CA 92879
      View Details
    • $1,189,000
      13,068.00 Acres

      Victorian Multifamily Property in Corona

      Unique six-unit Victorian multifamily property in Corona, California.
      1153 E Grand Blvd, Corona, CA 92879
      View Details
    • $298,988

      Established Salon Business Opportunity

      Profitable salon business for sale in Corona, California.
      Mckinley St, Corona, CA 92879
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Office/Retail Building For Rent

      Freestanding building at high-traffic intersection suitable for office or retail.
      701 W 6Th St, Corona, CA 92879
      View Details
    • Contact for pricing

      Corona Office Space Available

      Office spaces for rent ranging from 1,077 to 1,800 SqFt.
      710 Rimpau Ave, Corona, CA 92879
      View Details
    • $1.85 SF/Yr

      Class A Office Space Available

      High-quality office space near retail amenities for lease.
      2275 Sampson Ave, Corona, CA 92879
      View Details
    • Contact for pricing

      Medical Office Space in Corona

      Medical office space available in Corona near medical center.
      720 Magnolia Ave, Corona, CA 92879
      View Details
    • $1.39 SF/Yr
      7,414 SF

      Multi-Tenant Building Corner Unit

      Multi-tenant building with office space and ground level door.
      225 Benjamin Dr, Corona, CA 92879
      View Details
    • $1,980 /Mo
      1,000 SF

      Professional Office Space in Corona

      1,000 SF office space in a desirable Corona location.
      1009 S Victoria Ave, Corona, CA 92879
      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.
    1035 Montecito Dr
    Corona, CA 92879-1765
    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.
    Sign Up Successful!
    You now have access to more from Realmo!