Individually Owned Property summary
AI-generated overview
This 805-square-foot commercial building in downtown Perris, California, presents a compelling investment opportunity. Built in 1954, the single-story structure sits on a sizable 0.34-acre lot (14,810 square feet) and is zoned C1. Currently leased month-to-month for $1,100 per month gross, the property is ideal for a variety of uses, including real estate, beauty salons, accounting, or legal practices. Its location in Perris' urban village offers significant upside potential for future development. The property's convenient access to the city center and the Metrolink Station enhances its appeal. The asking price has been reduced to $399,000, representing a significant value proposition. The property's APN is 310-023-013. This is a rare chance to acquire a well-located commercial building in a growing California market. The building's single-story design and ample lot size provide flexibility for various business needs and potential expansion. This property offers a blend of immediate income generation and long-term development prospects, making it an attractive investment in Perris' thriving urban core. The address is 230 E 3rd St, Perris, CA 92570.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Construction
TILT-UP CONCRETE
Total area
805 SF
Lot
0.34 ac (14,810 SF)
Zoning code
M1
APN
310-023-013
UPID
US09-1010976
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tax Preparation
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$235k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$235k
Owner & transaction history
since 2025
Last sale
$350,000
7 recorded transactions
Zoning & alternative use
M1 · Perris, CA
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.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$235k
Value range
$212k – $259k
±10% around blend
Estimated value / SF
$292 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
50
$212k
blend $235k
$259k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
805 SF
Lot area
0.34 ac
Year built
1954
Stories
1
APN
310-023-013
Zoning
M1
Assessed value
$172,537
Annual tax
$1,987
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$408k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
20.5 mi away · 1,000 SF
39.2 mi away · 614 SF
47.2 mi away · 644 SF
48.4 mi away · 947 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$235k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 622 sales
$272
+7%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $292/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
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.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$350k
Move the market yield to see immediate price impact.
Value / SF
$435
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
5.00%7.00%9.00%
$22k
$441k
$315k
$245k
$25k
$490k
$350k
$272k
$27k
$539k
$385k
$299k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$250k
15.9 mi · Jan 2026 · $381/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$1,987
Tax year 2024
Assessed value
$172,537
Assessed 2024
Previous assessed
$172,537
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$72,459
Assessed improvement
$100,078
Applied tax rate
8.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1954
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
10
Bathrooms
1
Total area
805 SF
Lot
0.34 ac (14,810 SF)
Zoning code
M1
APN
310-023-013
UPID
US09-1010976
Jurisdiction
RIVERSIDE
Zoning & alternative use
M1 · Perris, CAZoning M1 · permitted uses
M1 · Perris, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1954
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
10
Bathrooms
1
Lot
0.34 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M1
Jurisdiction
Perris, CA
Recorded code
M1
Ownership Intelligence
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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
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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