Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Retail space
1608 Palmyrita Ave Riverside, CA 92507-1626
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-2736547
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1969
Construction
TILT-UP CONCRETE
Total area
2,450 SF
Lot
0.2 ac (8,712 SF)
Zoning code
M2
APN
249-022-012
UPID
US09-2736547
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
-
Pro Shop Noble Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$755k
CAP Approach
CAP
$490k
Comparable Approach
Comparable
$723k
Blend (final)
Blend
$765k
Owner & transaction history
Sterling Edge Holdings LLC
Sterling Edge Holdings LLC
since 2025
Last sale
$807,500
5 recorded transactions
Zoning & alternative use
M2 · Riverside, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+88.7%
Warehouse, storage
$795,000
+38.1%
Medical building
$715,000
+24.3%
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
$725,000
ML approach
$755,000
CAP Approach
CAP Return
Estimation
6%
$530,000
6.5%
$490,000
7%
$455,000
Alternative Use
Use
Estimation
RETAIL STORES
$575,000
Current use
AUTO REPAIR, GARAGE
$1,085,000
Change: +89% · Conversion: Difficult
WAREHOUSE, STORAGE
$795,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$715,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$490,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $808k (Jul 3 2025)
Last sale anchor
$808k
Jul 3 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
$312 / 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
$7,796
Tax year 2024
Assessed value
$702,270
Assessed 2024
Previous assessed
$702,270
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$156,060
Assessed improvement
$546,210
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1969
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
2,450 SF
Lot
0.2 ac (8,712 SF)
Zoning code
M2
APN
249-022-012
UPID
US09-2736547
Jurisdiction
RIVERSIDE
Zoning & alternative use
M2 · Riverside, CA
Zoning M2 · permitted uses
M2 · Riverside, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riverside. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$575,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$795,000
MEDICAL BUILDING
Est. value
$715,000
OFFICE BUILDING
Est. value
$490,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
MEDICAL BUILDING
OFFICE 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
1969
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Sterling Edge Holdings LLC
Entity
Mailing address
24032 PIRAGUA PL, LAGUNA NIGUEL, CA 92677-4233
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2025
$807,500
Sterling Edge Holdings LLC
The Ranauro Family Trust
Grant Deed
$417,000 · Harvest Small Business Finance LLC
Oct 3, 2025
—
We R Builders
Sterling Edge Holdings LLC
Deed
$343,000 · The Mortgage Capital Development Corpora
Mar 31, 2022
—
Mark R Ranauro
—
Deed
related
$347,000 · Us Bank NA
Mar 7, 2022
$675,000
Mark R Ranauro
Golden Years Services INC
Grant Deed
—
May 25, 2021
$515,000
Golden Years Services INC
Stephen F Jones
Grant Deed
$437,800 · First Choice Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1608 Palmyrita Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
