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

    1203 Central Ave Redlands, CA 92374-4300

    • Apartment buildings
    • 47,280 SF
    • 3.45 lot acres
    OFF-MARKET
    Last Sale
    Jun 15, 2023
    $13,400,000
    Value Estimations
    $14,680,000
    Show details
    Cap Rate Potential
    2.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US10-1551035
    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.

    Current Use by Public Records

    • Aspire Redlands Apartments / Apartment Rental Agency / Apartment Building

    Property Details for 1203 Central Ave

    Year built
    1987
    Construction
    WOOD FRAME
    Lot size
    3.45 lot acres
    Property size
    47,280 SF
    Property type
    Apartment buildings
    APN
    0170-211-23-0000
    APU
    170211230000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $17,975,000
      ML approach
      $12,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,618,000
      Market price range: $6.74M - $16.6M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $10,080,000
      Current use
      RESTAURANT
      $22,220,000
      Change: +121% Conversion: Difficult
      OFFICE BUILDING
      $20,555,000
      Change: +104% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $15,055,000
      Change: +49% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $14,395,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $13,680,000
      Change: +36% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $12,725,000
      Change: +26% Conversion: Difficult
      WAREHOUSE, STORAGE
      $12,050,000
      Change: +20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Redlands
    County
    San Bernardino
    State
    California
    Longitude
    -117.162
    Latitude
    34.0581
    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
    2023
    $40,434
    $3,060,000
    $10,608,000
    $13,668,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,045,000
      1.45 Acres

      Lugonia Ave

      APARTMENT HOUSE (5+ UNITS) • 1.45 Acres
      Lugonia Ave, Redlands, CA 92374
      View Details
    • Value Estimation
      $30,420,000
      274,883 SF

      27000 Lugonia Ave

      APARTMENT HOUSE (100+ UNITS) • 274,883 SF
      27000 Lugonia Ave, Redlands, CA 92374-2011
      View Details
    • Value Estimation
      $600,000
      6,554 SF

      929 Lombard Dr

      APARTMENT HOUSE (5+ UNITS) • 6,554 SF
      929 Lombard Dr, Redlands, CA 92374-4459
      View Details
    • Value Estimation
      $6,460,000
      78,616 SF

      1460 Marshall St

      APARTMENT HOUSE (5+ UNITS) • 78,616 SF
      1460 Marshall St, Redlands, CA 92374-6353
      View Details
    • Value Estimation
      $4,905,000
      40,428 SF

      1255 University St

      APARTMENT HOUSE (5+ UNITS) • 40,428 SF
      1255 University St, Redlands, CA 92374-3713
      View Details
    • Value Estimation
      $23,370,000
      166,788 SF

      1210 Lugonia Ave

      APARTMENT HOUSE (100+ UNITS) • 166,788 SF
      1210 Lugonia Ave, Redlands, CA 92374-2627
      View Details

    Similar Nearby for Sale

    • $1,170,000
      4,006 SF

      Redlands Multifamily Property For Sale

      Four-unit income property in a desirable Redlands neighborhood.
      610 E Lugonia Ave, Redlands, CA 92374
      View Details
    • $1,175,000

      Redlands Multifamily Investment Opportunity

      Four-unit apartment complex in Redlands with attractive unit mix.
      217 Judson St, Redlands, CA 92374
      View Details
    • Contact for pricing
      6.50 Acres

      Redlands Commercial Land - 6.5 Acres

      Prime Redlands commercial land, freeway access.
      0 Nec San Bernardino Ave & Texas St, Redlands, CA 92374
      View Details
    • $550,000
      1,170 SF

      1730 Sessums Dr, Redlands, CA 92374

      Mixed-use properties • 1,170 SF
      1730 Sessums Dr, Redlands, CA 92374
      View Details
    • $350,000

      Redlands Commercial Lot For Sale

      Commercial lot in Redlands Transit Village Specific Plan area.
      E Colton Ave, Redlands, CA 92374
      View Details
    • $2,500,000

      Prime Redlands Land Opportunity

      2.78 acres of land in high-traffic Redlands location.
      831 W Lugonia Ave, Redlands, CA 92374
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      380,579 SF

      Redlands Logistics Center Ready Build

      Planned free-standing industrial building with secured yard in Redlands.
      9091 Nevada St, Redlands, CA 92374
      View Details
    • Contact for pricing
      4,242 SF

      Redlands Office Space For Rent

      Office space for rent with immediate highway access and proximity to amenities.
      1684 Plum Ln | Redlands, Redlands, CA 92374
      View Details
    • $1.57 SF/Yr
      18,944 SF

      Industrial Space in Corporate Business

      Industrial property for rent in Corporate Business Center.
      25809 Business Center Dr, Redlands, CA 92374
      View Details
    • $0.85 SF/Yr
      313,470 SF

      Redlands Distribution Warehouse For Lease

      Large industrial warehouse with office space available for lease.
      9712 Alabama St, Redlands, CA 92374
      View Details
    • Contact for pricing
      356,791 SF

      Redlands Distribution Facility Available

      State-of-the-art distribution facility with 40' clear height.
      1101 California St, Redlands, CA 92374
      View Details
    • $1.95 SF/Yr
      1,358 SF

      Centennial Place Executive Suites

      Redlands, CA Executive Office Space
      1652 Plum Ln, Redlands, CA 92374
      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.
    1203 Central Ave
    Redlands, CA 92374-4300
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.