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Property profile & analytics
OFF-MARKET
Grocery and convenience stores

23971 Newport Dr Canyon Lake, CA 92587-9015

1,085 SF 0.12 ac lot Built 1937
Individually Owned 3-yr Hold Absentee Owner Free & Clear
Property ID
US10-3224654
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE
Year built 1937
Construction WOOD
Total area 1,085 SF
Lot 0.12 ac (5,227 SF)
Zoning code C1/CP
APN 350-285-010
UPID US10-3224654
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
Michael A Serna · 3 yrs held
Michael A Serna
since 2023
Last sale
$290,000
7 recorded transactions
2025
Price N/A
2023
Price N/A
2022
$290,000
2015
$125,000
2015
Price N/A
2013
$277,823
2013
Price N/A
Zoning & alternative use
C1/CP · Canyon Lake, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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