Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2002 Locust Ct Ontario, CA 91761-7617

    • Flex space
    • 7,987 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-1046566
    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

    • Light Vision Co / Lighting Store
    • B & M Enterprises / Wholesaler
    • Expocell Group Inc / Health
    • A2V Power, Inc. / Electronics Store
    • Genki Tuning / Auto Parts Store / General Contractor

    Property Details for 2002 Locust Ct

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Property size
    7,987 SF
    Property type
    Flex space
    APN
    0113-395-22-0000
    APU
    113395220000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $248,000
      Market price range: $207k - $816k

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

    Location Insight

    • Map
    • Local Demand
    City
    Ontario
    County
    San Bernardino
    State
    California
    Longitude
    -117.606
    Latitude
    34.045
    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
    $7,065
    $122,961
    $537,947
    $660,908
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $295,000
      0.35 Acres

      2041 Baker Ave

      LIGHT INDUSTRIAL • 0.35 Acres
      2041 Baker Ave, Ontario, CA 91761-8027
      View Details
    • Value Estimation
      $150,000
      11.79 Acres

      4651 Brickell St

      LIGHT INDUSTRIAL • 11.79 Acres
      4651 Brickell St, Ontario, CA 91761-1542
      View Details
    • Value Estimation
      $315,000
      6.37 Acres

      1500 Hellman Ave

      LIGHT INDUSTRIAL • 6.37 Acres
      1500 Hellman Ave, Ontario, CA 91761-7634
      View Details
    • Value Estimation
      $250,000
      7.09 Acres

      4750 Zinfandel Ct

      LIGHT INDUSTRIAL • 7.09 Acres
      4750 Zinfandel Ct, Ontario, CA 91761-2309
      View Details
    • Value Estimation
      $275,000
      0.31 Acres

      539 Main St

      LIGHT INDUSTRIAL • 0.31 Acres
      539 Main St, Ontario, CA 91761
      View Details
    • Value Estimation
      $440,000
      9,464 SF

      1525 Baker Ave

      LIGHT INDUSTRIAL • 9,464 SF
      1525 Baker Ave, Ontario, CA 91761-7797
      View Details

    Similar Nearby for Sale

    • $1,968,000
      5,338 SF

      Prime Ontario Flex Space For Sale

      High-end, vacant flex condo; ideal owner-occupier.
      1600 Grove Ave, Ontario, CA 91761
      View Details
    • Contact for pricing
      19,000 SF

      Hellman Business Park For Sale

      19,000 +/- SF flex/industrial/warehouse space in Hellman Business Park.
      2049 S Hellman Ave, Ontario, CA 91761
      View Details
    • $1,868,000
      5,338 SF

      High Image Office/Warehouse Space

      Office and warehouse space with high-image buildout and mezzanine.
      1600 S Grove Ave, Ontario, CA 91761
      View Details
    • $2,750,000
      11,440 SF

      Ontario Industrial Units For Sale

      Five industrial units with secured yard and office space.
      602 S Hope Ave, Ontario, CA 91761
      View Details
    • $1,298,000
      3,308 SF

      Renovated Commercial Space in Ontario

      Commercial space with offices and warehouse in Belmont & Grove Business Park.
      1115 S Grove Ave, Ontario, CA 91761
      View Details
    • $13,000,000
      11,655 SF

      Ontario Warehouse on 3.65 Acres

      11,655 SF warehouse with quick freeway access.
      1856 Bon View Ave, Ontario, CA 91761
      View Details

    Similar Nearby for Lease

    • $1.35 SF/Yr
      74,887 SF

      Ontario Industrial/Office Flex Space

      Industrial/office flex space available for lease in Ontario, CA.
      3100 Cedar St, Ontario, CA 91761
      View Details
    • $1.45 SF/Yr
      5,119 SF

      Ontario Flex Space Available

      Multi-tenant building with office space and loading door.
      2010-2054 E Francis St, Ontario, CA 91761
      View Details
    • $1.40 SF/Yr
      13,634 SF

      Ontario Flex Space Available

      Multi-tenant flex space with freeway access in Ontario, California.
      1910-1960 Carlos Ave, Ontario, CA 91761
      View Details
    • $1.35 SF/Yr
      3,000 SF

      Ontario Business Park Flex Space

      Multi-tenant building with 16' clear height and 300 SF office.
      1518 E Francis St, Ontario, CA 91761
      View Details
    • Contact for pricing

      Industrial Unit Available for Lease

      Well-maintained industrial unit in multi-tenant business park available for lease.
      4295 Jurupa St, Ontario, CA 91761
      View Details
    • $1.45 SF/Yr
      8,885 SF

      Ontario Industrial Flex Space

      8,885 SF Flex Space For Lease
      1551 Vineyard Ave, Ontario, CA 91761
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2002 Locust Ct
    Ontario, CA 91761-7617
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.