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Property profile & analytics
OFF-MARKET
Estimated value
$12,980,000
Office buildings
1500 Iowa Ave Riverside, CA 92507-2164
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-1743274
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
50,055 SF
Lot
3.31 ac (144,183 SF)
APN
249-070-038
UPID
US09-1743274
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Inland Regional Center Inc Social Service Agency Charitable Organization
-
Hanna Brophy MacLean McAleer & Jensen LLP Law Firm
-
MIG, Inc. Marketing & Advertising (Bike/Boat/Book/etc) Store
-
LSA Associates Inc Sustainability Organization Volunteer Organization
-
Todd Estil Ewing Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.55M
Comparable Approach
Comparable
$11.96M
Blend (final)
Blend
$12.98M
Owner & transaction history
Riverside Unified School District
Riverside Unified School District
since 2025
Last sale
$12.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$18.0M
+79.7%
Warehouse, storage
$16.2M
+62.3%
Medical building
$14.6M
+46.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Riverside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverside submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,850,000
6.5%
$15,550,000
7%
$14,440,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,005,000
Current use
APARTMENT HOUSE (5+ UNITS)
$17,985,000
Change: +80% · Conversion: Easy
WAREHOUSE, STORAGE
$16,235,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$14,615,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$12.98M
Range $11.68M – $14.28M · ±10% · vs last sale $12.20M (Jul 23 2025)
Last sale anchor
$12.20M
Jul 23 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$259 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$135,064
Tax year 2024
Assessed value
$10,069,787
Assessed 2024
Previous assessed
$10,069,787
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$1,592,959
Assessed improvement
$8,476,828
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
NONE
Stories
2
Total area
50,055 SF
Lot
3.31 ac (144,183 SF)
APN
249-070-038
UPID
US09-1743274
Jurisdiction
RIVERSIDE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$10.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$18.0M
WAREHOUSE, STORAGE
Est. value
$16.2M
MEDICAL BUILDING
Est. value
$14.6M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
STEEL FRAME
Heating
NONE
Stories
2
Lot
3.31 ac
Current owner
From public records · entity-resolved
Riverside Unified School District
Individual
Mailing address
24155 LDG POLE RD, DIAMOND BAR, CA 91765-3362
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2025
$12,200,000
Riverside Unified School District
Sb Hillside Properties LLC
Grant Deed
—
Jan 12, 2017
$8,850,000
Sb Hillside Properties LLC
Grove Business Park I LLC
Grant Deed
related
—
Jan 9, 2017
$8,850,000
Sb Hillside Properties LLC
Grove Business Park I LLC
Grant Deed
$5,916,000 · Wells Fargo Bank NA
Nov 17, 2006
—
Grove Business Park I LLC
Rountree James T Trust
Grant Deed
—
Oct 20, 2006
—
Grove Business Park LLC
—
Trustees Deed
related
$16,533,000 · Wells Fargo Bank
Jul 26, 2005
—
Grove Business Park LLC
—
Trustees Deed
related
$7,378,000 · Wells Fargo Bank
Apr 6, 2005
—
Grove Business Park LLC
Rountree,james T Trust
Grant Deed
related
—
—
—
Grove Business Park I LLC
—
Deed Of Trust
related
$9,000,000 · Lehman Brothers Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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