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    Property profile & analytics

    23701 Meyer Dr Riverside, CA 92518-2066

    • Retail space
    • 309.49 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3595165
    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

    • Path of Life Ministries / Government Office

    Property Details for 23701 Meyer Dr

    Lot size
    309.49 lot acres
    Property type
    Retail space
    APN
    009-618-679
    APU
    9618679

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.267
    Latitude
    33.8912
    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
    2015
    $0.00
    $135,461
    $406,394
    $541,855
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,765,000
      6,300 SF

      22430 Van Buren Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,300 SF
      22430 Van Buren Blvd, Riverside, CA 92518-2709
      View Details
    • Value Estimation
      $5,125,000
      6,850 SF

      22420 Van Buren Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,850 SF
      22420 Van Buren Blvd, Riverside, CA 92518-2711
      View Details
    • Value Estimation by Request

      14427 Meridian Pkwy E E Ste

      STORE, RETAIL OUTLET
      14427 Meridian Pkwy E E Ste, March Air Reserve Base, CA 92518-3015
      View Details
    • Value Estimation
      $300,000
      2.43 Acres

      Riverside, CA 92518

      RETAIL STORES (PERSONAL SERVICES) • 2.43 Acres
      Riverside, CA 92518
      View Details
    • Value Estimation
      $640,000
      3,102 SF

      March Air Reserve Base, CA 92518

      CONVENIENCE STORE (W/FUEL PUMP) • 3,102 SF
      March Air Reserve Base, CA 92518
      View Details
    • Value Estimation
      $485,000
      2,955 SF

      20631 Van Buren Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,955 SF
      20631 Van Buren Blvd, Riverside, CA 92518-1534
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45 SF

      Planned Class A Industrial Development

      Class A industrial buildings planned for completion in early 2026.
      14635 Meridian Pkwy, March ARB, CA 92518
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    • $4,169,835
      14,631 SF

      Meridian Industrial Warehouse For Sale

      Industrial warehouse in Meridian Master Plan Development, Riverside, CA.
      14020 Meridian Pky., Riverside, CA 92518
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      21,907 SF

      Industrial Building Near Freeways

      21,907 SF industrial building with freeway access.
      14078 Meridian Pkwy, Riverside, CA 92518
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    • $4,650,000
      17,250 SF

      Falcon Business Park Freestanding Building

      Freestanding building with mezzanine, office, lab, and loading area.
      14538 Meridian Pkwy, March Air Reserve Base, CA 92518
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    • Contact for pricing
      11,787 SF

      Free Standing Industrial Building

      Industrial building featuring office space, loading docks, and clear height.
      14068 Meridian Pkwy, Riverside, CA 92518
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      24,612 SF

      Free Standing Warehouse Building

      24,612 SF warehouse with office space for sale.
      14645 Meridian Pkwy, Riverside, CA 92518
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    Similar Nearby for Lease

    • Contact for pricing

      Industrial Property Fully Leased

      Industrial building in Riverside, CA, currently 100% leased.
      21840 Van Buren Blvd, Riverside, CA 92518
      View Details
    • Contact for pricing
      277,270 SF

      Industrial Space with Ample Power

      277,270 SF industrial space with high power capacity.
      17101 Heacock St, Riverside, CA 92518
      View Details
    • $1.25 SF/Yr
      4,374 SF

      Riverside Warehouse with Office Space

      4,374 SF warehouse with office space for lease.
      14467 Meridian Pkwy, Riverside, CA 92518
      View Details
    • $1.00 SF/Yr
      13,500 SF

      Industrial Building with Freeway Frontage

      27,129 SF industrial building for lease with office space.
      21840-21842 Cactus Ave, Riverside, CA 92518
      View Details
    • $1.05 SF/Yr
      14,807 SF

      Industrial Building with Office Space

      Freestanding industrial building featuring office space and parking.
      14000 Meridian Pkwy, Riverside, CA 92518
      View Details
    • $1.30 SF/Yr
      5,050 SF

      Riverside Industrial Condo For Rent

      Industrial condo featuring office space and convenient freeway access.
      14427 Meridian Pkwy, Riverside, CA 92518
      View Details
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    23701 Meyer Dr
    Riverside, CA 92518-2066
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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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