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Property profile & analytics
FOR LEASE
Office buildings
2038 Iowa Ave Riverside, CA 92507
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0176001
For Lease
Contact for pricing
2038 Iowa Ave, Riverside, CA 92507
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Construction
TILT-UP CONCRETE
Total area
18,816 SF
Lot
0.53 ac (23,086 SF)
Zoning code
BMP
APN
249-140-037
UPID
US09-0176001
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
SGI-USA Riverside Buddhist Center Charitable Organization Social Service Agency
-
ComputerWorks NFP Solutions Consultant
-
California Telephone Access Program Telecommunications Service Electrical Service
-
American English Institute Language School
-
Riverside Buddhist Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Dunbar Summit LLC · 1 yrs held
Dunbar Summit LLC
since 2024
Last sale
$19.0M
7 recorded transactions
Zoning & alternative use
BMP · Riverside, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Riverside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverside submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$14,261
Tax year 2024
Assessed value
$2,573,281
Assessed 2024
Previous assessed
$2,573,281
+0.0% YoY
Effective rate
0.55%
On assessed value
Assessed land
$246,604
Assessed improvement
$2,326,677
Applied tax rate
9.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1989
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
18,816 SF
Lot
0.53 ac (23,086 SF)
Zoning code
BMP
APN
249-140-037
UPID
US09-0176001
Jurisdiction
RIVERSIDE
Zoning & alternative use
BMP · Riverside, CA
Zoning BMP · permitted uses
BMP · Riverside, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riverside. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1989
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.53 ac
Current owner
From public records · entity-resolved
Dunbar Summit LLC
Entity
Mailing address
19762 MACARTHUR BLVD STE #300, IRVINE, CA 92612-2498
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2024
$19,028,500
Dunbar Summit LLC
Summit Business Center LLC
Grant Deed
$12,500,000 · United Of Omaha Life Insurance Comp
Oct 17, 2019
—
Summit Business Center LLC
—
Grant Deed
related
$58,600,000 · Miscellaneous Ins Co
Jun 14, 2017
$12,000,000
Summit Business Center Lc
Bv/cip Sbc LLC
Grant Deed
$10,840 · Pfp Holding Co V LLC
Apr 6, 2012
—
Bv Of Cip Sbc LLC
—
Deed Of Trust
related
$3,840,000 · Pacific Trust Bank
Nov 22, 2011
$6,500,000
Bv Of Cip Sbc LLC
Cb Summit Business Center LLC
Grant Deed
—
Dec 15, 2010
$9,500,000
Cb Summit Business Center LLC
Chicago Title Co
Trustees Deed
related
—
Feb 23, 2007
—
Pccp Lincoln Summit LLC
Iowa Ave Holdings II LLC
Grant Deed
$19,450,000 · Capmark Bank
Feb 22, 2006
—
Iowa Ave Holdings II LLC
Iowa Ave Holdings LLC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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