Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    23971 Newport Dr Menifee, CA 92587

    • Grocery and convenience stores
    • 1,085 SF
    • 0.12 lot acres
    For Sale
    View listing
    $525,000
    Value Estimation
    Last Sale
    Mar 15, 2023
    $290,000
    Location Intelligence
    Property ID
    US10-3224654
    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

    • Grocery and convenience stores

    Property Details for 23971 Newport Dr

    Year built
    1937
    Construction
    WOOD
    Lot size
    0.12 lot acres
    Property size
    1,085 SF
    Zone code
    C1/CP
    Property type
    Grocery and convenience stores
    APN
    350-285-010
    APU
    350285010

    Description

    This exceptional commercial property presents a rare opportunity in the burgeoning Menifee market. Located at 23971 Newport Drive, this 1,085 square foot office space has undergone a complete remodel, boasting newer windows, electrical system, energy-efficient LED ceiling lights, fresh drywall, paint, flooring, and fixtures. The property includes a detached two-car garage/workshop, ideal for storage or additional workspace. While currently utilized as a tax preparation business, its versatile layout lends itself to a variety of commercial uses. A significant advantage is the expansive lot size. Although the main building sits on a 0.35-acre parcel, the sale encompasses two additional connecting parcels, totaling 15,246 square feet of land. These additional lots are fully fenced, providing ample space for expansion, outdoor storage, or additional development. This property offers a unique blend of renovated interior space and substantial land area, making it an attractive investment in a rapidly growing area. The combination of a remodeled building and the significant additional land presents a compelling opportunity for both established businesses and forward-thinking entrepreneurs. The property's location in Menifee, CA, offers easy access to major transportation routes and a thriving community.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $315,000

    • CAP approach

      CAP return
      Estimation
      6%
      $280,000
      6.5%
      $295,000
      7%
      $280,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $235,000
      Geo Method
      $260,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $285,000
      Retail
      $305,000
      Mixed-Use
      $305,000
      Hospitality
      $285,000
      Educational
      $330,000
      Residential Income
      $295,000
      Energy
      $235,000
      Income-Based Land
      $310,000
      Food Service
      $250,000

    Location Insight

    • Map
    • Local Demand
    City
    Canyon Lake
    County
    Riverside
    State
    California
    Longitude
    -117.241
    Latitude
    33.7012
    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
    $2,873
    $25,500
    $219,300
    $244,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.82 Acres

      24370 Cyn Lk N Dr

      CONVENIENCE STORE • 0.82 Acres
      24370 Cyn Lk N Dr, Canyon Lake, CA 92587-8041
      View Details
    • Value Estimation by Request
      0.34 Acres

      23307 Cyn Lk S Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.34 Acres
      23307 Cyn Lk S Dr, Canyon Lake, CA 92587
      View Details
    • Value Estimation by Request
      14.35 Acres

      29201 Longhorn Dr

      RETAIL STORES (PERSONAL SERVICES) • 14.35 Acres
      29201 Longhorn Dr, Canyon Lake, CA 92587-7662
      View Details
    • Value Estimation by Request
      7,508 SF

      31740 Railroad Cyn Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,508 SF
      31740 Railroad Cyn Rd, Canyon Lake, CA 92587-9490
      View Details
    • Value Estimation by Request
      2,385 SF

      32160 Railroad Cyn Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,385 SF
      32160 Railroad Cyn Rd, Canyon Lake, CA 92587-9212
      View Details
    • Value Estimation
      $355,000
      2,496 SF

      31564 Railroad Cyn Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,496 SF
      31564 Railroad Cyn Rd, Canyon Lake, CA 92587-9447
      View Details

    Similar Nearby for Sale

    • $525,000
      1,085 SF

      Menifee Commercial Property - Huge Potential

      Prime Menifee location, remodeled office, large lot.
      23971 Newport Dr, Menifee, CA 92587
      View Details
    • $95,000

      Canyon Lake Land For Sale

      Land available in Canyon Lake, California.
      22871 Giant Fir Pl, Canyon Lake, CA 92587
      View Details
    • $420,000

      Commercial Land Parcel For Sale

      Large 0.65 acre commercial land parcel with utilities available.
      84 Goetz Rd, Sun City, CA 92587
      View Details
    • $79,000

      Menifee Land Parcel For Sale

      Land parcel available in Menifee, ready to build.
      28415 Mtn Vw Pl, Menifee, CA 92587
      View Details
    • $35,000
      9,583.00 Acres

      Residential Lot Near Canyon Lake

      Affordable residential lot with convenient freeway access.
      Strungle, Menifee, CA 92587
      View Details
    • Contact for pricing
      4,356.00 Acres

      Menifee Land Lot For Sale

      Vacant land in Menifee, great investment opportunity.
      San Jacinto Rd, Sun City, CA 92587
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23971 Newport Dr
    Menifee, CA 92587
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.