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    Property profile & analytics

    1717 Via Del Rio Corona, CA 92882

    • Commercial real estate
    • 2.80 lot acres
    For Sale
    View listing
    $6,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5253600
    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

    • Iglesia Reformada La Senda / Reformed Church
    • Iglesia de Jesucristo Palabra Miel / Religious Destination

    Property Details for 1717 Via Del Rio

    Lot size
    2.80 lot acres
    Property type
    Commercial real estate
    APN
    103-200-088

    Description

    This exceptional 2.8-acre development site in Corona, CA, presents a lucrative investment opportunity. Located at 1717 Via Del Rio Ave (APN 103-200-088), this R-3 zoned property offers the potential to construct up to 82 residential units. Currently, a tentative tract map (37314) is underway with the city planning department, proposing a 48-unit townhouse development with strong projected cap rates. Previous plans also envisioned an 82-unit apartment complex, showcasing the site's versatility. The property's strategic location, just blocks from the 91 Freeway and minutes from Interstate 15, ensures excellent accessibility. Its proximity to an elementary school and an existing apartment complex further enhances its desirability. The area boasts several recently completed residential projects, demonstrating strong market demand and investor interest. All utilities are adjacent to the site, simplifying development. This high-density parcel is a rare find in this thriving market, offering significant potential for substantial returns. The asking price is $6,000,000. Don't miss this chance to capitalize on this prime development opportunity in Corona, CA, zip code 92882.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Riverside
    State
    California
    Longitude
    -117.6014461
    Latitude
    33.872256

    Comparable in this City

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      Flat Lot in Corona, CA

      Flat lot in Corona, CA, with easy freeway access.
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    Similar Nearby for Sale

    • $399,900
      7,405.00 Acres

      Corona Land/Lot R-3 Zoned

      Vacant lot in established neighborhood, ideal for multi-unit housing.
      1243 E St, Corona, CA 92882
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    • $1,900,000

      Commercial Land For Sale

      Commercial land available for sale.
      1066 W 6Th St, Corona, CA 92882
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    • $119,900

      Land For Sale

      Land available for sale.
      995 Pomona Rd Spc, Corona, CA 92882
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      Land For Sale

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      3933 Malaga St, Corona, CA 92882
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    • $499,000

      Land For Sale

      Land available for purchase.
      991 Norwich Way, Corona, CA 92882
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    • $185,000
      5,227.00 Acres

      Flat Lot in Corona, CA

      Flat lot in Corona, CA, with easy freeway access.
      112 N Merrill St, Corona, CA 92882
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    Similar Nearby for Lease

    • Contact for pricing
      2 SF

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      Industrial Flex Space Available

      Flex space available for sublease through November 30, 2025.
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    • $1,500 /Mo

      Versatile Office Space Available

      Office suites available, build to suit, gated parking.
      1245 W 6Th St, Corona, CA 92882
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    Request Owner's contact information
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    1717 Via Del Rio
    Corona, CA 92882
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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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