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1533 Spruce St, Riverside, CA 92507
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Property summary
AI-generated overview
Spruce Commons, located at 1533 Spruce Street in Riverside, CA 92507, offers 19,692 square feet of immediately available flex and warehouse space for lease. This multi-tenant property, totaling 24,025 square feet, sits on a 1.13-acre lot and features a three-story building constructed in 1986. Units range from a minimum of 1,123 square feet to a maximum contiguous space of 6,266 square feet, providing flexibility for a variety of business needs. The building includes elevators for convenient access to all three floors. The property's classification as both office and industrial space makes it ideal for businesses requiring a blend of office and warehouse functionality. Its location in Riverside County offers easy access to major transportation routes, making it a strategic location for distribution and operations. The property is currently vacant, presenting a unique opportunity for a single tenant to occupy a significant portion of the building or for multiple tenants to lease individual units. This versatile space is perfect for companies seeking a blend of office and warehouse space in a convenient Riverside location. Inquire today to learn more about leasing opportunities at Spruce Commons.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
STEEL FRAME
Total area
24,164 SF
Lot
1.13 ac (49,222 SF)
Zoning code
MPBP
APN
249-120-018
UPID
US10-2963587
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Law Firm Financial Advisor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.08M
Blend (final)
Blend
$3.30M
Owner & transaction history
since 2025
5 recorded transactions
Zoning & alternative use
MPBP · Riverside, CA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.30M
Value range
$2.97M – $3.62M
±10% around blend
Estimated value / SF
$136 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$2.97M
blend $3.30M
$3.62M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
24,164 SF
Lot area
1.13 ac
Year built
1987
Stories
1
APN
249-120-018
Zoning
MPBP
Assessed value
$2,884,219
Annual tax
$31,789
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$31,789
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$7.73M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
24.8 mi away · 18,750 SF
27.6 mi away · 20,294 SF
34.2 mi away · 19,538 SF
49.3 mi away · 17,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.30M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 21 sales
$200
-32%
Submarket 126 sales
$237
-43%
County 622 sales
$272
-50%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $136/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.23M
Move the market yield to see immediate price impact.
Value / SF
$175
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$266k
$5.33M
$3.80M
$2.96M
$296k
$5.92M
$4.23M
$3.29M
$325k
$6.51M
$4.65M
$3.62M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$12.00M
14.5 mi · Jan 2026 · $592/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$31,789
Tax year 2024
Assessed value
$2,884,219
Assessed 2024
Previous assessed
$2,884,219
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$527,521
Assessed improvement
$2,356,698
Applied tax rate
9.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
24,164 SF
Lot
1.13 ac (49,222 SF)
Zoning code
MPBP
APN
249-120-018
UPID
US10-2963587
Jurisdiction
RIVERSIDE
Zoning & alternative use
MPBP · Riverside, CAZoning MPBP · permitted uses
MPBP · Riverside, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
1.13 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
MPBP
Jurisdiction
Riverside, CA
Recorded code
MPBP
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MPBP in Riverside, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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