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    19985 Smith Rd Perris, CA 92570
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    Property profile & analytics

    19985 Smith Rd, Perris, CA 92570

    View on Map
    • Residential income homes
    • 6,800 SF
    • 14.77 lot acres
    Off-Market
    Property ID
    US09-0944805
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 19985 Smith Rd

    Lot size
    14.77 lot acres
    Property type
    Residential income homes
    APN
    285200001; 285190018

    Description

    This exceptional 15-acre property in Perris, CA, presents a unique investment opportunity. The offering encompasses five recently remodeled residential units, providing immediate rental income. The main house, a mid-century ranch style home, boasts 4 bedrooms, 2 bathrooms, a 2-car garage, and a large covered patio. Additional structures include a barn with enclosed stalls, a tack room, an office, and a 3/4 bath; an upstairs apartment with 2 bedrooms, 1 bath, and a den; and a detached 3-bedroom, 2-bathroom house with a 2-car garage. Further enhancing the property are two large unpermitted workshop/warehouse buildings, a detached 3-car garage, and an old tennis court with an office and 3/4 bath. Two additional 3-bedroom homes, one with 1 bath and the other with 2 baths, are situated on a separate 5-acre parcel. All units feature recent renovations, including new windows, cabinets, countertops, flooring, doors, paint, electrical and plumbing fixtures, and tile bath enclosures. The property also includes appealing outdoor amenities such as a forest area, open space, gazebos, ponds, and riding areas, presenting potential for further development. The property is zoned R-A-1 and has a total square footage of 6,800 across all structures. The asking price is $2,850,000. APN: 285200001; 285190018.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.356999
    Latitude
    33.829851

    Comparable in this City

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      Perris Land in Opportunity Zone

      1.45 acre mixed-use land parcel in an Opportunity Zone.
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      Perris Land in Opportunity Zone

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    • $980,000
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      Perris Land in Opportunity Zone

      5.3 acres in an Opportunity Zone near I-215.
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    • $600,000
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      Opportunity Zone Land Near Freeway

      3.08 acres in an Opportunity Zone near I-215.
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      6.73 Acres Heavy Industrial Land

      6.73 acres with heavy industrial zoning, income-producing RV park.
      190 Mapes Rd, Perris, CA 92570
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    Similar Nearby for Sale

    • $600,000
      96,703.20 Acres

      Perris Land in Opportunity Zone

      2.22 acre parcel near I-215 interchange, ideal for development.
      24003 Nuevo Rd, Perris, CA 92570
      View Details
    • $300,000
      63,162.00 Acres

      Perris Land in Opportunity Zone

      1.45 acre mixed-use land parcel in an Opportunity Zone.
      24001 Nuevo Rd, Perris, CA 92570
      View Details
    • $300,000
      71,002.80 Acres

      Perris Land in Opportunity Zone

      1.63 acre mixed-use land parcel in an Opportunity Zone.
      24002 Nuevo Rd, Perris, CA 92570
      View Details
    • $980,000
      230,868.00 Acres

      Perris Land in Opportunity Zone

      5.3 acres in an Opportunity Zone near I-215.
      24000 Nuevo Rd, Perris, CA 92570
      View Details
    • $600,000
      134,164.80 Acres

      Opportunity Zone Land Near Freeway

      3.08 acres in an Opportunity Zone near I-215.
      24001 Nuevo Rd, Perris, CA 92570
      View Details
    • Contact for pricing

      6.73 Acres Heavy Industrial Land

      6.73 acres with heavy industrial zoning, income-producing RV park.
      190 Mapes Rd, Perris, CA 92570
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      7.82 Acres Retail Opportunity

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      Retail/Drive-Thru Parcel Available

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      1,600 SF

      Freestanding QSR Opportunity

      Freestanding and interior QSR spaces available with ample truck parking.
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      Industrial Land with Buildings For Rent

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      19,000 SF

      Perris Retail Property For Rent

      Retail property with freeway visibility in Perris, California.
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    Perris, CA 92570
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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.

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    19985 Smith Rd, Perris, CA, 92570
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