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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1851 California Ave Corona, CA 92881-6477

    • Manufacturing properties
    • 203,207 SF
    • 10.15 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2025
    $43,250,000
    Value Estimations
    $38,735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3012279
    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

    • Amerisource Bergen / Factory / Production Facility

    Property Details for 1851 California Ave

    Year built
    1991
    Construction
    WOOD
    Lot size
    10.15 lot acres
    Property size
    203,207 SF
    Property type
    Manufacturing properties
    APN
    107-170-042
    APU
    107170042

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $31,475,000
      6.5%
      $29,055,000
      7%
      $26,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $39,375,000
      Market price range: $39.4M - $69.4M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $51,690,000
      Current use
      OFFICE BUILDING
      $61,565,000
      Change: +19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Riverside
    State
    California
    Longitude
    -117.538
    Latitude
    33.8562
    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
    $145,568
    $3,917,809
    $8,890,440
    $12,808,249
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,305,000
      44,833 SF

      3 Latitude Way

      MANUFACTURING (LIGHT) • 44,833 SF
      3 Latitude Way, Corona, CA 92881-4912
      View Details
    • Value Estimation
      $3,065,000
      31,895 SF

      1691 California Ave

      MANUFACTURING (LIGHT) • 31,895 SF
      1691 California Ave, Corona, CA 92881-3375
      View Details
    • Value Estimation
      $1,855,000
      14,410 SF

      1751 California Ave

      MANUFACTURING (LIGHT) • 14,410 SF
      1751 California Ave, Corona, CA 92881-3309
      View Details
    • Value Estimation
      $4,280,000
      44,682 SF

      1120 California Ave

      MANUFACTURING (LIGHT) • 44,682 SF
      1120 California Ave, Corona, CA 92881-3324
      View Details
    • Value Estimation
      $600,000
      3,259 SF

      1231 Carbide Dr

      MANUFACTURING (LIGHT) • 3,259 SF
      1231 Carbide Dr, Corona, CA 92881-7269
      View Details
    • Value Estimation
      $1,150,000
      9,053 SF

      1260 Graphite Dr

      MANUFACTURING (LIGHT) • 9,053 SF
      1260 Graphite Dr, Corona, CA 92881-3308
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6 SF

      South Corona Business Park Land

      Five parcels in master-planned business park, great South Corona location.
      Carbide Dr & Boron Dr, Corona, CA 92881
      View Details
    • $299,000
      2,000 SF

      Established Japanese Restaurant Business Opportunity

      Profitable, turnkey Japanese restaurant for sale in Corona, California.
      2347 California Ave, Corona, CA 92881
      View Details
    • $139,999
      2,200 SF

      Turnkey Restaurant Opportunity in Corona

      Fully equipped restaurant with beer and wine license for sale.
      2363 California Ave, Corona, CA 92881
      View Details
    • $1,775,000
      1,300 SF

      Corona Mixed-Use Commercial Property

      High-traffic location, versatile space, great potential.
      19594 Temescal Canyon Rd, Corona, CA 92881
      View Details
    • $40,347
      15,341 SF

      High-Visibility Corona Retail Center

      Prime location, high traffic, 15,341 sqft
      910 Aven Ct, Corona, CA 92881
      View Details
    • $1,200,000
      40,075.00 Acres

      South Corona Gated Community Lot

      Nearly 1 acre lot in exclusive gated community in Corona.
      1127 Casper Cir, Corona, CA 92881
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      206,024 SF

      Corona Industrial Space Available

      87,248 SF Warehouse, Excellent Location
      1241 Old Temescal Rd, Corona, CA 92881
      View Details
    • $0.99 SF/Yr
      78,327 SF

      New Warehouse with Freeway Frontage

      Brand new, state-of-the-art warehouse with excellent freeway visibility.
      14 Longitude Way, Corona, CA 92881
      View Details
    • Contact for pricing

      Warehouse and Office Space Available

      Flexible warehouse and office space in Corona's commercial corridor.
      2079 Compton Ave, Corona, CA 92881
      View Details
    • Contact for pricing
      9,364 SF

      Industrial Warehouse with Freeway Access

      High image industrial building with excellent freeway access.
      2066 California Ave, Corona, CA 92881
      View Details
    • Contact for pricing
      127,821 SF

      Warehouse/Distribution Space Available

      Excellent warehouse/distribution space with fenced yard and fire sprinklers.
      1241 Old Temescal Rd, Corona, CA 92881
      View Details
    • $1.25 SF/Yr
      22 SF

      Industrial Building with Secured Yard

      Industrial building featuring office space, high ceilings, and secured yard.
      1160 California Ave, Corona, CA 92881
      View Details
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    1851 California Ave
    Corona, CA 92881-6477
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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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