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    1983 Hamner Ave Norco, CA 92860-2602
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    Property profile & analytics

    1983 Hamner Ave, Norco, CA 92860-2602

    View on Map
    • Retail space
    • 7,458 SF
    • 4.70 lot acres
    Off-Market
    Property ID
    US09-2756490
    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.
    Value Estimations
    $1,450,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Browning - Jeep / Car Dealership / Auto Repair Shop
    • Aaron Chrysler Dodge Jeep Ram / Car Dealership
    • Aaron Chrysler Dodge Jeep Ram Service Center / Auto Repair Shop
    • Aaron Chrysler Dodge Jeep Ram Parts Center / Auto Parts Store

    Property Details for 1983 Hamner Ave

    Year built
    1997
    Construction
    WOOD
    Lot size
    4.70 lot acres
    Property type
    Retail space
    APN
    125-090-047
    APU
    125090047

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 2, 2019 — Art Plaza INC — Deed · related $3M · Bank Of The West
    Aug 7, 2014 $5,475,000 Art Plaza INC Christopher Lee Frahm Grant Deed $2.2M · Wilshire Bank
    Mar 14, 2013 — Frahm Christopher L Frahm,mitchel L & Gayle Quit Claim Deed · related —
    Apr 28, 2011 — Mitchel L Frahm Frahm Living Trust Quit Claim Deed · related $7.7M · Us Bank NA
    Apr 28, 2011 $1,000,000 Frahm Living Trust Frahm L & S Living Trust Grant Deed · related —
    Aug 13, 2004 — Frahm,tr J & L Tr Quit Claim Deed · related —
    Apr 11, 2003 — Frahm,tr Frahm,louis H Quit Claim Deed · related —
    — — Art Plaza INC — Deed Of Trust · related $3M · Bank Of The West
    — — Mitchel L Frahm — Loan Modification · related $4.8M · Us Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,780,000
      6.5%
      $1,645,000
      7%
      $1,525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,974,000
      Market price range: $422k - $1.97M

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

    Location Insight

    • Map
    • Local Demand
    City
    Norco
    County
    Riverside
    State
    California
    Longitude
    -117.56
    Latitude
    33.9104
    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
    $72,382
    $2,411,945
    $4,039,156
    $6,451,101
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      2085 Riv Rd E E Ste

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    • Value Estimation by Request
      0.20 Acres

      1771 3rd St

      STORE, RETAIL OUTLET
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    • Value Estimation by Request
      2.39 Acres

      2195 Hamner Ave

      RETAIL STORES (PERSONAL SERVICES)
      2195 Hamner Ave, Norco, CA 92860-2606
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    • Value Estimation
      $1,725,000
      9,456 SF

      1900 Hamner Ave

      RETAIL STORES (PERSONAL SERVICES)
      1900 Hamner Ave, Norco, CA 92860-2601
      View Details
    • Value Estimation
      $1,020,000
      7,250 SF

      1660 Hamner Ave

      RETAIL STORES (PERSONAL SERVICES)
      1660 Hamner Ave, Norco, CA 92860-2929
      View Details
    • Value Estimation by Request
      1,260 SF

      3394 Hamner Ave

      RETAIL STORES (PERSONAL SERVICES)
      3394 Hamner Ave, Norco, CA 92860-1940
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Smog Testing Station Business Opportunity

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      Smog Testing Station For Sale

      Operating smog testing station with regular clientele near Freeway 15.
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      Commercial Lot in High-Traffic Area

      Commercial lot with utilities in high-visibility Norco location.
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      Norco Commercial Land For Sale

      8.87 acres of commercial land in Norco, California.
      3480 Hamner Ave, Norco, CA 92860
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Busy Center

      Retail space available in shopping center near 91 and 15.
      1411 Hamner Ave, Norco, CA 92860
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    • Contact for pricing

      Retail Space in Norco Center

      Retail space available in Norco neighborhood shopping center.
      1999 River Rd, Norco, CA 92860
      View Details
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      2,265 SF

      Office/Showroom Space Available

      Multi-tenant building with office/showroom space, available December 1, 2025.
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      Norco Office Space For Rent

      Single tenant office building with 7,336 square feet available.
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      121,343 SF

      Industrial Building Planned for Rent

      Planned industrial building with 121,343 square feet for rent.
      2nd St. & Mtn Ave, Norco, CA 92860
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    • $0.99 SF/Yr
      72,245 SF

      Norco Warehouse Space Available

      72,245 sqft warehouse space for lease in Norco.
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      View Details

    Property Visit Statistics

    • Visits by month
      7.2k
    • Visitors by month
      5.0k
    • Avg Time on site
      28 min
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    Norco, CA 92860-2602
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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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