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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2359 Main St Riverside, CA 92501-2216

    • Retail space
    • 5,000 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Dec 26, 2024
    $1,450,000
    Value Estimations
    $1,365,000
    Show details
    Cap Rate Potential
    4.9%
    Retail space
    Location Intelligence
    Property ID
    US09-2216208
    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

    • World Class Restoration / Auto Body Shop / Car Repair And Maintenance Service

    Property Details for 2359 Main St

    Year built
    1946
    Construction
    TILT-UP CONCRETE
    Lot size
    0.19 lot acres
    Property size
    5,000 SF
    Zone code
    M1
    Property type
    Retail space
    APN
    209-114-009
    APU
    209114009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,450,000
      ML approach
      $1,450,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,195,000
      6.5%
      $1,105,000
      7%
      $1,025,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,340,000
      Current use
      RESTAURANT
      $2,370,000
      Change: +77% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,215,000
      Change: +65% Conversion: Difficult
      MEDICAL BUILDING
      $1,460,000
      Change: +9% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,400,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.366
    Latitude
    33.9948
    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
    $1,162
    $36,599
    $59,186
    $95,785
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      3506 9th St

      RETAIL STORES (PERSONAL SERVICES)
      3506 9th St, Riverside, CA 92501-3602
      View Details
    • Value Estimation
      $365,000
      0.65 Acres

      3663 Main St Ste C

      RETAIL STORES (PERSONAL SERVICES) • 0.65 Acres
      3663 Main St Ste C, Riverside, CA 92501-2866
      View Details
    • Value Estimation
      $335,000
      0.19 Acres

      2585 Main St

      RETAIL STORES (PERSONAL SERVICES) • 0.19 Acres
      2585 Main St, Riverside, CA 92501-2238
      View Details
    • Value Estimation
      $510,000
      1,960 SF

      333 La Cadena Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,960 SF
      333 La Cadena Dr, Riverside, CA 92501-1252
      View Details
    • Value Estimation
      $395,000
      3,500 SF

      1223 La Cadena Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,500 SF
      1223 La Cadena Dr, Riverside, CA 92501
      View Details
    • Value Estimation
      $290,000
      1,680 SF

      1253 La Cadena Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,680 SF
      1253 La Cadena Dr, Riverside, CA 92501-1629
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      50,000 SF

      Retail Building with Venue

      Retail building featuring a basement venue, showroom, and coffee shop.
      3700 Main St, Riverside, CA 92501
      View Details
    • $2,600,000
      6,440 SF

      Riverside Commercial Property For Sale

      Commercial building for sale in Riverside, California, near freeway.
      387 W La Cadena Dr, Riverside, CA 92501
      View Details
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      8,259 SF

      Riverside Commercial Property For Sale

      Single-tenant retail building leased to Family Dollar in Riverside, CA.
      1710 Main St, Riverside, CA 92501
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      6,000 SF

      Downtown Riverside Building For Sale

      Downtown Riverside building with approved plans and parking lot.
      3750-3760 10Th St, Riverside, CA 92501
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      800 SF

      Riverside Commercial Property with Redevelopment Potential

      Prime location with redevelopment potential in Riverside's North Main District.
      2350 Main St, Riverside, CA 92501
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      Auto/Body and RV Repair Shop

      Premier auto/body and RV repair shop with property for sale.
      2822 Main St, Riverside, CA 92501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,500 SF

      Riverside Retail Outparcel Opportunity

      High-traffic retail space, 1,000-12,000 SF
      CA-60 And Ca-91 / I-215, Riverside, CA 92501
      View Details
    • Contact for pricing
      3,100 SF

      Main Street Retail/Office Space

      First floor retail/office space on Main Street promenade.
      3870 Main St, Riverside, CA 92501
      View Details
    • $2 SF/Yr
      8,160 SF

      Historic Building in Central Business

      Iconic property undergoing restoration for office and retail tenants.
      4001 Main St, Riverside, CA 92501
      View Details
    • $2 SF/Yr
      15,527 SF

      Mission Lake Center: Riverside Offices

      Downtown Riverside Executive Suites Available
      3600 Lime St, Riverside, CA 92501
      View Details
    • Contact for pricing
      307,394 SF

      Riverside Logistics Center Freestanding Building

      Freestanding logistics building with immediate freeway access in Riverside, CA.
      3650 Center St, Riverside, CA 92501
      View Details
    • $0.25 SF/Yr
      244,807 SF

      Riverside Land Parcel For Lease

      Land available for lease in Riverside, California.
      400-424 Main St, Riverside, CA 92501
      View Details
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    2359 Main St
    Riverside, CA 92501-2216
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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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