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    2223 Locust Ave Rialto, CA 92377-4113
    Property profile & analytics

    2223 Locust Ave, Rialto, CA 92377-4113

    View on Map
    • Warehouses
    • 44,340 SF
    • 4.68 lot acres
    Off-Market
    Last Sale May 9, 2022
    $14,500,000
    Property ID
    US10-1234938
    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
    $12,600,000
    Show details
    Cap Rate Potential
    3%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • RV & Boat storage of Rialto / Storage Facility
    • RC Construction Services, Inc. / General Contractor

    Property Details for 2223 Locust Ave

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.68 lot acres
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    1133-221-01-0000
    APU
    1133221010000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 9, 2022 $14,500,000 2271 Locust Xc LLC Locust Building LLC Grant Deed —
    Sep 24, 2019 — Locust Building LLC — Deed · related $1M · Pacific Wstrn Bk
    Nov 26, 2018 — Locust Building LLC Clapper Family Trust Quit Claim Deed · related —
    Jun 11, 2018 — Robert W Clapper — Deed · related $675k · Pacific Western National Bank
    Apr 3, 2017 — Robert W Clapper — Deed · related $2M · California United Bank
    Jun 2, 2006 — Clapper Family Trust — Trustees Deed · related $4.6M · Pff Bank & Trust
    Mar 4, 2004 — Clapper,tr Rashkovan,tr Grant Deed · related $375k · Pff Bank & Trust
    Nov 8, 1993 — Eduard Etal Rashkovan Rashkovan,eduard Quit Claim Deed · related —
    — — Clapper Family Trust — Loan Modification · related $3.2M · Security Bank Ca
    — — Locust Building LLC — Loan Modification · related $1M · Pacific Wstrn Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,880,000
      ML approach
      $9,760,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $11,300,000
      Current use
      RESTAURANT
      $20,840,000
      Change: +84% Conversion: Difficult
      OFFICE BUILDING
      $19,275,000
      Change: +71% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $15,255,000
      Change: +35% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $13,500,000
      Change: +19% Conversion: Easy
      MEDICAL BUILDING
      $12,830,000
      Change: +14% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $11,935,000
      Change: +6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Rialto
    County
    San Bernardino
    State
    California
    Longitude
    -117.409
    Latitude
    34.14
    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
    $183,268
    $15,085,800
    $0.00
    $15,085,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,980,000
      32,970 SF

      2823 Locust Ave

      MINI-WAREHOUSE, STORAGE
      2823 Locust Ave, Rialto, CA 92377-4165
      View Details
    • Value Estimation
      $19,055,000
      147,210 SF

      1892 Casmalia St

      MINI-WAREHOUSE, STORAGE
      1892 Casmalia St, Rialto, CA 92377-4112
      View Details
    • Value Estimation
      $2,435,000
      20,908 SF

      2591 Riverside Ave

      MINI-WAREHOUSE, STORAGE
      2591 Riverside Ave, Rialto, CA 92377
      View Details
    • Value Estimation
      $2,025,000
      17,000 SF

      2020 Lowell St

      MINI-WAREHOUSE, STORAGE
      2020 Lowell St, Rialto, CA 92377-3722
      View Details
    • Value Estimation
      $2,680,000
      23,156 SF

      2571 Riverside Ave

      MINI-WAREHOUSE, STORAGE
      2571 Riverside Ave, Rialto, CA 92377
      View Details
    • Value Estimation
      $745,000
      5,000 SF

      3047 Locust Ave, Unit B

      MINI-WAREHOUSE, STORAGE
      3047 Locust Ave, Rialto, CA 92377-3707
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      378,500 SF

      Planned Class A Warehouse Facility

      Planned warehouse facility with office space and ample parking.
      2175 Linden Ave, Rialto, CA 92377
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    • Contact for pricing

      Rialto Warehouse For Sale

      Warehouse property for sale in Rialto, California.
      2133 W Casmalia St, Rialto, CA 92377
      View Details
    • Contact for pricing
      217,800 SF

      Rialto Fenced Lot for Lease

      Paved and fenced lot with favorable outdoor storage zoning.
      2239 W Stonehurst Dr, Rialto, CA 92377
      View Details
    • Contact for pricing
      132,422 SF

      Rialto Trailer Storage Facility

      3.04 acre trailer storage facility with immediate freeway access.
      2116-2160 Stonehurst Dr, Rialto, CA 92377
      View Details
    • $899,000
      30,000.00 Acres

      Rialto Industrial Land Opportunity

      Flat industrial lot in North Rialto near Renaissance Marketplace.
      Rialto, CA 92377
      View Details
    • Contact for pricing
      94,677 SF

      Rialto Land Near Freeways

      2.17 acres of land near 210 and 5 freeways.
      5250 N Locust Ave, Rialto, CA 92377
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      401,914 SF

      Rialto Commerce Center Space

      Industrial space with office, dock doors, and truck court.
      2415 N Locust Ave, Rialto, CA 92377
      View Details
    • Contact for pricing
      41,266 SF

      Rialto Warehouse with Freeway Access

      Freestanding warehouse with ESFR sprinkler system and excellent freeway access.
      1595 W Casmalia St, Rialto, CA 92377
      View Details
    • Contact for pricing

      Container-Ready Industrial Land For Lease

      Paved, gated industrial land with container stacking approval for lease.
      2010 West Stonehurst Dr, Rialto, CA 92377
      View Details
    • Contact for pricing

      Rialto Retail Space For Rent

      Retail space with excellent highway exposure in Rialto, California.
      210 Hwy & Riverside Ave, Rialto, CA 92377
      View Details
    • Contact for pricing
      82,764 SF

      Rialto Land with Buildings For Rent

      1.9 acres with buildings and immediate freeway access.
      2271 Stonehurst Dr, Rialto, CA 92377
      View Details
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    Rialto, CA 92377-4113
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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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