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    1248 6th St Corona, CA 92882-1869
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    Property profile & analytics

    1248 6th St, Corona, CA 92882-1869

    View on Map
    • Hotels
    • 19,385 SF
    • 0.89 lot acres
    Off-Market
    Property ID
    US09-1010922
    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
    $1,430,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Welcome Inn / Hotel & Motel

    Property Details for 1248 6th St

    Year built
    1989
    Construction
    WOOD
    Lot size
    0.89 lot acres
    Zone code
    R106
    Property type
    Hotels
    APN
    110-040-033
    APU
    110040033

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 11, 2024 — Shiv Investment LLC — Deed · related $2.7M · Logix FCU
    Aug 29, 2003 $2,600,000 Shiv Investment LLC Kuo,tr Grant Deed $2M · Kuo Trust
    Dec 3, 2002 — Chen L Etal Kuo Kuo,chen L Etal Quit Claim Deed · related —
    May 13, 1999 $1,480,000 Chen L Kuo Teckchandani,moti P & Reshma Grant Deed $800k · Evertrust Bank
    Jul 18, 1994 $1,025,000 Moti P Teckchandani American Interna Grant Deed $820k · American International Bank
    Jun 2, 1994 $1,100,000 American International Bank Kim,soo-woong & Trustees Deed · related —
    — — Dixit Patel — Deed Of Trust · related $50k · Rajesh & Anjanaben Desai
    — — Dixit Patel — Deed Of Trust · related $380k · Ashok Gandhi
    — — Dixit Patel — Deed Of Trust · related $380k · Rajesh Desai
    — — Soo W Kim — Deed Of Trust · related $25k · Wu Kinglieh
    — — Shiv Investment LLC — Deed Of Trust · related $504k · Dixit & Jaimini Patel
    — — Shiv Investment LLC — Deed Of Trust · related $1M · Southland Economic Dev Corp
    — — Shiv Investment LLC — Deed Of Trust · related $200k · Rajesh Desai
    — — Shiv Investment LLC — Deed Of Trust · related $1.5M · Bank Of The West
    — — Shiv Investment LLC — Deed Of Trust · related $1M · Bank Of Orange County

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,229,000
      Market price range: $414k - $2.10M

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

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Riverside
    State
    California
    Longitude
    -117.588
    Latitude
    33.877
    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
    $39,330
    $811,247
    $2,704,467
    $3,515,714
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,240,000
      33,656 SF

      200 Lincoln Ave

      HOTEL
      200 Lincoln Ave, Corona, CA 92882-8204
      View Details
    • Value Estimation by Request
      6,584 SF

      1900 Frontage Rd

      HOTEL
      1900 Frontage Rd, Corona, CA 92882-8401
      View Details
    • Value Estimation
      $1,840,000
      24,904 SF

      1084 Pomona Rd

      HOTEL
      1084 Pomona Rd, Corona, CA 92882-1834
      View Details
    • Value Estimation
      $1,070,000
      17,770 SF

      1701 6th St

      HOTEL
      1701 6th St, Corona, CA 92882-2955
      View Details
    • Value Estimation
      $3,645,000
      22,800 SF

      210 Lincoln Ave

      HOTEL
      210 Lincoln Ave, Corona, CA 92882-1854
      View Details
    • Value Estimation by Request
      1,962 SF

      Corona, CA 92882

      HOTEL
      Corona, CA 92882
      View Details

    Similar Nearby for Sale

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      Corona Mixed-Use Investment Opportunity

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      1,330 SF

      Prime Corner Commercial Building

      High-visibility commercial building in a revitalizing downtown area.
      1066 W 6Th St, Corona, CA 92882
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, approximately 2,200 square feet.
      1443 W 6Th St, Corona, CA 92882
      View Details
    • Contact for pricing

      Versatile Office Space Available

      Office suites available, build to suit, gated parking.
      1245 W 6Th St, Corona, CA 92882
      View Details
    • Contact for pricing

      Commercial Space in Corona, CA

      Commercial space available for rent in Corona, California.
      200 S Main St, Corona, CA 92882
      View Details
    • Contact for pricing

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      321 S Main St, Corona, CA 92882
      View Details
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    Corona, CA 92882-1869
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    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
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