19972 Patterson Ave Perris, CA 92570-9708
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Estimated value (blended)
$36.56M
Range $32.90M – $40.22M (±10%)
Implied cap rate
3.40%
In-place · NOI ÷ last sale
Property ID
US09-3486641
Property summary
AI-generated overview
This exceptional 199,932-square-foot warehouse, situated on a generous 9.43-acre lot in Perris, California, presents a unique leasing opportunity. Built in 2021, the property boasts a modern design and is currently entirely vacant, offering immediate occupancy for a single tenant. The warehouse features a substantial 32-foot ceiling height, providing ample vertical storage space. Access is facilitated by 28 dock-high doors and 2 drive-in doors, ensuring efficient loading and unloading operations. Ample parking is available with 126 spaces designated for the property. Located in Riverside County, at 19972 Patterson Avenue, Perris, CA 92570, this property offers excellent accessibility and is ideally suited for a variety of industrial uses. The property's size, modern features, and convenient location make it an attractive option for businesses seeking a large, functional warehouse space in Southern California. The property is ready for immediate occupancy. This is a single-tenant property.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2020
Construction
TILT-UP CONCRETE
Total area
199,477 SF
Lot
9.41 ac (409,899 SF)
APN
317-170-047
UPID
US09-3486641
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$25.20M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$36.56M
Owner & transaction history
since 2021
Last sale
$38.8M
4 recorded transactions
Zoning & alternative use
Top alternative use upside
Medical building
$54.5M
+30.3%
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.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$36.56M
Value range
$32.90M – $40.22M
±10% around blend
Estimated value / SF
$183 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
40
$32.90M
blend $36.56M
$40.22M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
199,477 SF
Lot area
9.41 ac
Year built
2020
Stories
1
APN
317-170-047
Assessed value
$40,367,520
Annual tax
$454,538
3
Income approach: direct capitalization
Partial preview
Income approach indication
$25.20M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$27.30M
@ 6.5% CAP return
$25.20M
@ 7% CAP return
$23.40M
4
Sales comparison
Partial preview
Sales approach indication
$37.28M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
16.6 mi away · 203,207 SF
16.6 mi away · 163,056 SF
22.2 mi away · 217,169 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$36.56M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 64 sales
$210
-13%
County 1211 sales
$223
-18%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $183/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+30%
vs current-use indication
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
3.40%
Implied, in-place cap rate for this manufacturing properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.40%
9.0%
NOI (est.)
$2.72M *
Last sale · Oct 2021
$38.80M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$79.88M
Move the market yield to see immediate price impact.
Value / SF
$400
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
2.90%3.40%3.90%
$2.44M
$84.29M
$71.89M
$62.68M
$2.72M
$93.66M
$79.88M
$69.64M
$2.99M
$103.02M
$87.87M
$76.61M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$44.28M
15.8 mi · Oct 2025 · $269/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$454,538
Tax year 2024
Assessed value
$40,367,520
Assessed 2024
Previous assessed
$40,367,520
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$12,276,720
Assessed improvement
$28,090,800
Applied tax rate
98.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2020
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
199,477 SF
Lot
9.41 ac (409,899 SF)
APN
317-170-047
UPID
US09-3486641
Jurisdiction
RIVERSIDE
Zoning & alternative use
Zoning · permitted uses
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
2020
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
9.41 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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 · 5 · 30 · 100 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.
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 19972 Patterson 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.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
