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Property profile & analytics
OFF-MARKET
Estimated value
$28,920,000
Warehouses
23900 Brodiaea Ave Moreno Valley, CA 92553-8841
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-4757386
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2018
Construction
TILT-UP CONCRETE
Total area
104,282 SF
Lot
6.71 ac (292,287 SF)
Zoning code
BP
APN
297-170-078
UPID
US09-4757386
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
-
iGPS Logistics Freight Service Logistics Company
-
I GPS Logistics LLC Warehouse & Storage
-
Preferred Self Storage Unit Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.05M
Comparable Approach
Comparable
$20.10M
Blend (final)
Blend
$28.92M
Owner & transaction history
Areit Moreno Valley Dc LP · 3 yrs held
Areit Moreno Valley Dc LP
since 2023
Last sale
$33.4M
7 recorded transactions
Zoning & alternative use
BP · Moreno Valley, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$45.0M
+46.1%
Neighborhood: shopping center
$31.3M
+1.5%
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 Moreno Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Moreno Valley 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
Method
Estimation
Statistic approach
$36,295,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$19,550,000
6.5%
$18,045,000
7%
$16,755,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$30,810,000
Current use
AUTO REPAIR, GARAGE
$45,025,000
Change: +46% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$31,265,000
Change: +1% · Conversion: Moderate
RETAIL STORES
$29,700,000
Change: -4% · Conversion: Moderate
MEDICAL BUILDING
$28,505,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$28.92M
Range $26.03M – $31.81M · ±10% · vs last sale $33.38M (May 2 2023)
Last sale anchor
$33.38M
May 2 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$277 / SF
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
$385,279
Tax year 2024
Assessed value
$34,042,500
Assessed 2024
Previous assessed
$34,042,500
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$6,324,000
Assessed improvement
$27,718,500
Applied tax rate
21.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
104,282 SF
Lot
6.71 ac (292,287 SF)
Zoning code
BP
APN
297-170-078
UPID
US09-4757386
Jurisdiction
RIVERSIDE
Zoning & alternative use
BP · Moreno Valley, CA
Zoning BP · permitted uses
BP · Moreno Valley, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Moreno Valley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$30.8M
AUTO REPAIR, GARAGE
Est. value
$45.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.3M
RETAIL STORES
Est. value
$29.7M
MEDICAL BUILDING
Est. value
$28.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
6.71 ac
Current owner
From public records · entity-resolved
Areit Moreno Valley Dc LP
Entity
Mailing address
1200 17TH ST STE #2900, DENVER, CO 80202-5831
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2024
—
Areit Moreno Valley Dc LP
—
Deed
related
—
May 2, 2023
$33,375,000
Areit Moreno Valley Dc LP
Sif II Brodiaea Industrial Center L
Grant Deed
—
Mar 16, 2022
$27,000,000
Sif II Brodiaea Industrial Center L
Bartlett Properties LLC
Grant Deed
—
May 27, 2021
—
Bartlett Properties LLC
—
Deed
related
$1,630,000 · Pacific Premier Bank
Aug 18, 2020
—
Bartlett Properties LLC
—
Deed
related
$4,541,000 · Ampac Tri-st Cdc
Nov 9, 2018
$11,895,500
Bartlett Properties LLC
Brodiaea Industrial Center LLC
Grant Deed
$7,817,343 · Pacific Premier Bank
Feb 15, 2018
—
Brodiaea Industrial Center LLC
—
Deed
related
$5,800,000 · Manufacturers Bank
Dec 21, 2016
$1,360,000
Brodiaea Industrial Center LLC
Prologis Uslv Trs Casub LLC
Grant Deed
—
Jun 2, 2015
$986,500
Prologis Uslv Casub LLC Tr
Ktr Ie Six LLC
Grant Deed
—
Mar 17, 2015
$4,352,000
Ktr Ie Six LLC
Ridge Moreno Valley LLC
Grant Deed
—
—
—
Bartlett Properties LLC
—
Deed Of Trust
related
$4,541,000 · Ampac Tri-st Cdc
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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